Many businesses are successful not because they have a unique product or service but because they have a unique or effective way to distribute their products or services. If you have ideas for distributing the products to new markets such as exporting, importing or selling to the government you do not need a unique product. You can actually make money selling and distributing others products just by understanding the product and the need for it.
A start up business should however concentrate more on public relations, sales promotions and personal selling than advertising. Any activity performed by your business or those representing your business is an opportunity for publicity. The goal is to convey a positive image through favorable impressions that eventually increase sales and profits. Please remember that the positive image generated by good public relations including publicity is more believable than that generated by advertising.
Ways to Market your product or services
1) Party Plan- One of the cheapest and easy way to market is from your home. In this method you invite a group of people to a home party for demonstration of the product or service.
2) Direct Mail- This will only succeed with a good product, a good offer and a good mailing list. To get the list you have to spend some money, so plan for it.
3) Internet- This is a method that is cost effective and far reaching. This method helps you open up your product to the international market and rural areas that would be impossible in the traditional way.
4) Distribution Channels;
a) The first would be the department store- before engaging in this method, determine first what department within the store your product best fits and talk with the buyer for the department.
b) The independent sales representative- the reps work on commission and do not take title other than being an order taker. You only pay the sales rep their commission after the sale is completed
c) Wholesalers and jobbers- these differ form sales Reps in that they own and warehouse your product. You have less profit selling to a wholesaler but less risk.
Read more: http://bizcovering.com/opportunities/seven-ways-to-market-your-products-or-services/
Friday, June 4, 2010
10 Factors necessary to succeed as your own employer
Times are hard and many people are struggling to make ends meet. The traditional way of doing things for most people has been to get a good education which they hoped would guarantee a good job. However the difficult economic situations we find ourselves in today have shown us that there is no guaranteed way to do things. There are few jobs to go by these days and it is affecting all even those highly educated.
Perhaps it is time for people to consider other ways to manage life. This brought me to thinking that perhaps a lot more people could be self employed if they thought outside the box. We may not all be millionaires but we can find ways to survive and provide for our families. This is where the issue of entrepreneurship comes in. How do you become an entrepreneur and how can you ensure success?
What is entrepreneurship?
Before we discuss what you need to succeed as an entrepreneur, it is important to define what entrepreneurship is. Howard Stevenson suggests that Entrepreneurship is the recognition and pursuit of opportunity without regard to the resources you currently control with the confidence that you can succeed with the flexibility to change course as necessary and with the will to rebound from setbacks.
The making of an entrepreneur occurs by accumulation of relevant skills, knowledge, experience and contacts over a period of years. If you can recognize the difference between an idea that you have and an opportunity and you are able to visualize potential then you are likely to succeed in your endeavor. A successful entrepreneur will take careful calculated risks while trying to influence the odds. This they do by getting others to share the risk with and by avoiding or minimizing risks.
Read more: http://bizcovering.com/opportunities/10-factors-necessary-to-succeed-as-your-own-employer/
Perhaps it is time for people to consider other ways to manage life. This brought me to thinking that perhaps a lot more people could be self employed if they thought outside the box. We may not all be millionaires but we can find ways to survive and provide for our families. This is where the issue of entrepreneurship comes in. How do you become an entrepreneur and how can you ensure success?
What is entrepreneurship?
Before we discuss what you need to succeed as an entrepreneur, it is important to define what entrepreneurship is. Howard Stevenson suggests that Entrepreneurship is the recognition and pursuit of opportunity without regard to the resources you currently control with the confidence that you can succeed with the flexibility to change course as necessary and with the will to rebound from setbacks.
The making of an entrepreneur occurs by accumulation of relevant skills, knowledge, experience and contacts over a period of years. If you can recognize the difference between an idea that you have and an opportunity and you are able to visualize potential then you are likely to succeed in your endeavor. A successful entrepreneur will take careful calculated risks while trying to influence the odds. This they do by getting others to share the risk with and by avoiding or minimizing risks.
Read more: http://bizcovering.com/opportunities/10-factors-necessary-to-succeed-as-your-own-employer/
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