Getting and keeping that contract in tough times
Farrah Gray/NNPA Columnist
Issue date: 4/5/09 Section: Business
One natural business truth is that you have to sell if you want to stay in business. Currently, achieving sales success seems overwhelming given the reported sixth straight week of over 650,000 job losses and the U.S. Congressional Budget Office announcing estimates of the $9.3 trillion budget deficit for the next decade. We are witnessing the world's largest economy appearing to shrink by over 2.5 percent this year alone, the most since 1946.
However, as companies continue to cancel orders, return goods to vendors, cutting jobs and overhead expenses. Many opportunities exist for high-quality, home-based business entrepreneurs that offer cost-effective niche products or services.
Increasing sales during economic crisis particularly for the home-based business entrepreneur may be the single most important learned skill of any business survival plan.
Every contact, large or small, during a tough economy is a potential new sale. Customers are responding to discounts seeking the "most bang for the buck," cutting expenses across the board. Take heart entrepreneurs: sales is a craft, not an art. It can be learned.
During competitive economic climates, first think in terms of building personal relationships - "people do business with other people.'' Consider the ''lifetime value'' of a customer, not just a one-time sale. Finding money takes consistent efforts practiced overtime. Don't be fearful; always ask for the sale when the moment is right. Learn the sales skills that can increase your bottom line.
Listening: A great salesperson hears what the customer wants - their concerns and priorities. When calling on a customer, listen so you can understand how your product or service meets the customer's budget needs better than a competitors.
Ask questions: Ask the customer relevant questions to draw them out. ''What do you like in your current situation?'' ''What don't you like?'' ''What features are the most important?''
Present clear benefits, not what you do: You work with your product or service every day, so it's natural to focus on the details of your work. But customers don't always want to know the ins-and-outs of your business; they want to know how you save them money while meeting their needs.
However, as companies continue to cancel orders, return goods to vendors, cutting jobs and overhead expenses. Many opportunities exist for high-quality, home-based business entrepreneurs that offer cost-effective niche products or services.
Increasing sales during economic crisis particularly for the home-based business entrepreneur may be the single most important learned skill of any business survival plan.
Every contact, large or small, during a tough economy is a potential new sale. Customers are responding to discounts seeking the "most bang for the buck," cutting expenses across the board. Take heart entrepreneurs: sales is a craft, not an art. It can be learned.
During competitive economic climates, first think in terms of building personal relationships - "people do business with other people.'' Consider the ''lifetime value'' of a customer, not just a one-time sale. Finding money takes consistent efforts practiced overtime. Don't be fearful; always ask for the sale when the moment is right. Learn the sales skills that can increase your bottom line.
Listening: A great salesperson hears what the customer wants - their concerns and priorities. When calling on a customer, listen so you can understand how your product or service meets the customer's budget needs better than a competitors.
Ask questions: Ask the customer relevant questions to draw them out. ''What do you like in your current situation?'' ''What don't you like?'' ''What features are the most important?''
Present clear benefits, not what you do: You work with your product or service every day, so it's natural to focus on the details of your work. But customers don't always want to know the ins-and-outs of your business; they want to know how you save them money while meeting their needs.
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