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In sales and in life everything matters, what you do and what you don’t do. Let’s look at some errors by action and omission, which will cause your sales to collapse.
If they gave me a dollar for every time someone asked me “Is it a good business idea? The problem is that unless I write a business plan, I have no idea, and neither will you. That’s the main purpose of a business plan. There are other good reasons, too.
Yes, it takes a lot of time and requires a lot of research, but investing time now will save you a lot of time and money later on.
“Do what you love” is a business advice that’s been handed out ad nauseam. But for many people, it’s a big business mistake.
The reality is that there are a lot of people who love things they are not good at. I bet you can name a few that you know firsthand. The person who thinks she’s a great cook, but she’s not. The person who thinks he can fix anything pretty well, but he can’t.
My official advice to start a business? Don’t do what you love; do what you’re good at and what people will pay you (well). It’s not so flashy, but it’s much more profitable – and isn’t profit making the reason you’re opening a business?
I see an increasing number of people starting businesses without bothering to do any of this, and then breaking their hearts when their new business, in which they have invested so much time and money, collapses. Test your products and services before you start a business. If you don’t, you have no idea if people are going to want to buy them. You may think you make the tastiest pierogi in the world. But will someone else?
Ignoring the competition is another potentially fatal commercial error.
Simple Question #1: If you are selling your stuff for $10.00 each and (seller X) on the street is selling your stuff for $6.00 each, how many things are you going to sell?
What if (seller x ) things look, smell, feel and taste better than yours?
Another aspect of competition that you must understand is market saturation. The cake is not so big, so to speak, for every product or service. So, for example, if you want to open a dog grooming business, there may not be room left in your local area to do so because of the number of dog grooming businesses that already exist; the market is already “saturated” with this type of business.
We all do. Unfortunately, sometimes our strengths or weaknesses do not fit well with the business model we want to use, leading to disastrous results. For example, if you are not a friendly, outgoing type of person with good people skills, retail is not for you. No matter how many years you’ve dreamed of opening that ice cream shop or bookstore, it’s not for you.
That doesn’t mean you can’t buy that kind of business or start one yourself, but for you to be successful, you must keep in mind that working behind the counter isn’t something you should be doing; you’ll have to hire staff right away.
Helena Rubinstein, the first self-made millionaire woman, did not become rich by selling face cream; she became rich by selling beauty. “(“There are no ugly women,” she used to say, “just the lazy ones.) If your new business is going to succeed, you need to know what you’re really selling and develop your sales pitch.
Understanding what is being sold implies, believing in what is being sold and transmitting to others that you know what you are selling, that you can solve the problem and can advise your clientele on what they need, that is, assist and accompany them in the process.
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