Are you a small business owner who wants to grow your business? Can’t afford the risk of expensive marketing campaigns that may not work? In Part 1 of our video series “How to Grow Your Business on a Limited Budget,” we will look at as a business owner why it pays to be excellent at selling.
Why it pays to be excellent at selling: The basics
Going back to business basics, your business comprises two primary components: finding customers, and serving customers. Under the finding customers banner are two further categories: Sales and Marketing. Both have their advantages and disadvantages. However for the small business owner it can be challenging to invest time and effort into marketing, which in my experience can bring about little to no return. This is the reason we are focusing our discussion on sales.
Sales is the lowest cost strategy that you can implement immediately. All you need is a phone to get started. It also offers you the greatest control over the sales process. This increases the probability of deals closing (vs. exclusively online interactions). In the process of selling, you will develop deeper and closer relationships with your customers, increasing the chance that they will continue buying from you and recommending their friends. Furthermore, sales as a skill greatly complements marketing.
Imagine if you were to run a successful campaign, and people begin calling you to enquire. You still need the right skills to properly qualify the prospect. This will make sure your product is a good fit for their needs. In addition, you still need to persuasively present your offering and demonstrate why they will benefit. You still need to close the sale. Perhaps more importantly, when you invest in your and your staff’s sales skills, you are making a long-term investment into your business with guaranteed returns. Unlike a marketing campaign, even after your training you will continue to increase sales.
Why it pays to be excellent at selling… The late Jim Rohn said it best: “Work harder on yourself than at your job.” By this he simply means to invest in your most valuable asset: you. While the day-to-day aspects of your business will help run the business, an investment in yourself will ensure success in the long-term. Your business will grow in direct proportion to your personal growth.
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