PRESENTING YOUR PRODUCT OR SERVICE SO PROSPECTS BUY
What makes your business different? What is so good about what
you offer that people would feel foolish doing business with any-
one else, regardless of price? In most cases, despite the existence
of e-mail and the Internet, the telephone probably will be your
most important sales tool. Expect to spend 10 to 20 hours per week
making phone presentations to prospective customers. The
amount of time you spend at this is self-regulating because the less
business you have, the more time you devote to finding new cus-
tomers, and vice versa.
PRODUCING YOUR PRODUCT OR SERVICE, DELIVERING IT,
AND COLLECTING PAYMENT
The smaller your business, the greater the importance of personal
service. Although you may never compete with a major corporation
based on price or efficiency, customer service is where a small busi-
ness can shine. Remember, it is almost always easier to keep a cur-
rent customer than it is to find a new one. The customer from hell
is the exception. Let your competition deal with customers who
consistently demand price concessions and pay slowly or not at all.
Perhaps you can’t afford to turn away business at the outset, but af-
ter a while you will discover that 20 percent of the customers create
80 percent of the problems. Unless your business is a regulated util-
ity, you can choose your customers. Your business will profit and
your peace of mind will increase after you politely decline business
from the problem creators.
FOLLOW-UP
Turn your customers into salespeople. Always ask for referrals and
references. There is nothing wrong with asking your satisfied cus-
tomers to put in a good word for you. Not all will agree to do so,
but some will. It is almost always appropriate to ask your cus-
tomers if they know other people or businesses that can use what
you are selling.
Hiring Your First Employee
Success will make you busy. Unless you learn to delegate tasks, your
income will become very limited by the number of working hours
in a week. When you’re working 60 hours a week, even earning the
income you want from work you love gets to be a drag.
Hiring Your First Employee 181