|
Thinking of Investing in a Business? |
 |
|
With today's economy, it appears that many more people are looking into starting their own businesses, buying a franchise, or adding a side businesses to what they already do.
I've seen the ads, the emails, and I've heard the stories from others who have bought into the idea. Should you take the plunge, too?
Personally, I think you will be successful if you:
1. Believe in the product (would you buy it yourself?)
2. Understand the new business (before investing, research thoroughly and get related experience to make sure it's a good fit for you)
3. Understand products don't sell themselves - you have to market it well (and that takes time and money)
4. Are willing to take risks and put yourself in uncomfortable situations (hey, it's new to you, right? anything new can be uncomfortable)
Tell me about the business that you've started. Email me, I'd love to hear from you!
|
|
|
Greetings!,
You know me...I always try to stay optimistic. While business  has really picked up recently, there had been some much slower months. I took this time to "Sharpen the Saw" (as Steven Covey discussed in his book, 7 Habits of Highly Effective People). This included catching up on reading - and putting some things into practice. Read the article below about selling more with benefits (rather than features).
Business is really picking up for me - August was my most profitable months ever! Hopes it's the same for you.
Dr. Jo
|
 |
Sell More with Benefits, Not Features |
|
Do you sell stuff? Books? Articles? Counseling sessions? Consulting? Speaking engagements? Want to sell more? Then, stop selling the stuff!
Ok, I'm not suggesting that you go out of business. But, people really don't want STUFF. They want SOLUTIONS!
They don't want my BOOK on eating healthy in restaurant (Dining Lean), they want someone to help them make healthy choices in a restaurants. They don't want my KEYNOTE presentation, they want someone to motivate and educate their audience. And, they don't want your counseling sessions, they want to lose weight.
So, when you're marketing your stuff, make sure you tell them the benefits of your products. To get thinking in this way, check out some well-known magazines including Herrington, Brookstone and Solutions.
They don't sell outdoor speakers, they sell:
- "Weather-Resistant Indoor/Outdoor Wireless Speaker. Enjoy your music anywhere, indoors or out-without running wires"
Instead of headphones, they sell:
- "Noise Canceling Headphones: A Sonic Sanctuary Where You Can Read, Listen to Music, or Doze - Without Jet Drone Wearing You Down!"
No, it's not a funky brownie pan, it's:
- A baker's dream: deliciously chewy edges for every piece!
There's a great article in Entrepreneur magazine that offers a step-by-step approach on figure out the benefits of your products. Read the Entrepreneur article here. |
|
Quote of the Week
|
The way to get good ideas is to get lots of ideas, and throw the bad ones away."
Linus Pauling,
American scientist
|
Any questions? Please send them my way and I'll try to answer them in a future newsletter! Dr Jo
| |
|
|
|
