Planning and setting up a business entails a lot of hard work especially if you are a first timer. The only question here is, are you up for a challenge? If yes, then continue with the plan. In contrast, if you have butterflies in your stomach and not yet serious with the responsibilities, make up your mind first. Don’t put into waste your hard-earned capital for the business. After the first phase of your business plan, you now have your product to market. When, Where, What, Why, and How to start are the questions you need to answer. If you have been attending seminars and trainings, that is a good foundation. You may not be able to put into practice all the wisdom that you have gained over time, but at least you have a knowledge on how to do what you need to do.
First and foremost, do you understand the kind of business that you are in? Do you know very well your products or the services that you offer? These are essential factors that you need to know fully. If your product is still vague or you have a little understanding about it, this is not the time to back out. Instead, use this to persevere and be vigilant in searching for more information about the products that you are presenting. If you already have a full grasp of your products, are you offering these to the right target market? If your sales are good, you are on a right track, but if you are still penniless after three months of operation, you must identify if you are barking on the wrong tree. Evaluate your clients well and list down those you need to prioritize. Ask what they need and if you can cater to that condition. They may need your products eventually, so keep them posted from time to time. As for now, look for a client who has a requirement of your products and send them a good proposal.
Be careful as well on giving price quotations. Make sure that your costs are competitive. Most times, consumers check on the costs before proceeding to other details. If you cannot get hold of a competitor’s price, at least be guarded of the market price. Do not forget to follow up as well once you have given your proposal. Some clients tend to forget that you have submitted a bid so make certain to follow up. Once you close a sale, ask for your client’s referrals. At least this is a good lead in networking. If you can ask for a recommendation and they can give one, grab it since it is a great opportunity and can open your doors to a lot of possibilities.
Join organizations for entrepreneurs and always have a calling card at hand. You’ll never know if a colleague might be needing your products or services or you can be partners in some projects. Just a reminder, if you are attending networking nights, throw away your sales pitch since this is the occasion to mingle with other members.
Lastly, send out press releases to every newspapers and magazines at bay. They usually accommodate your articles with no charge so this is good advertising. If you are Internet savvy, make your own website. You can use free hosting services for the meantime. This way, you can truly market your business.