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Dear Sellers - Stop Hurting Your Business!

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Dear Sellers,

Stop hurting your business! These are what you are doing wrong. As a business owner and a 9to5 business development person myself, here are free pointers for you to rectify as a matter of urgency to save your business.

Be it a new business or desire to enhance your existing business model, the pointers below are useful for you.

Advertising your products without prices is a no no in business, especially for a small business. You are investing more time into answering queries and playing a ping pong messaging game with potential clients who might end up not buying and time being wasted on both sides.

This is what you are missing with the above approach, real buyers in most cases are silent, they view from afar and make their decision with price. With your approach, you have eliminated this possibility and limited your sales potentials.

Using your business profile to share your political and religion views, you can’t be trading general products and be attacking people of opposing faith or association, it’s sadly a self-shot. Everybody is your potential customer - I am not sure how anyone can miss that.

You are NOT your business, separate yourself from your brand. The same Facebook account you use in promoting APC can’t be the same one to use to advertise your business, except of course if you are not expecting potential clients from the camp of PDP. Think like your potential customers to understand them.

Another mistake - doing what all sellers are doing! A very wrong way of doing business, to have a different result, you as a seller is expected to inject something new entirely. Because Mr.A is doing well doesn’t mean you have the capability to pull the same off. What could be new? Better quality! A brand new product in design entirely! Competitive pricing? Customers love bargains!

It’s your place to carry out a feasibility study before embarking on a business and the output of that study should have pointed out your risks, competitors, and how to mitigate risks and maximize profit. Identify loopholes and fill them! Provision of solution to a known or hidden challenge/problem is how you make money.

You can’t be emotional as a business person, the one that’s not buying today may return because of your approach and patience, everybody contacting you doesn’t have to be immediate customer. In big businesses, those are called sales leads/data to explore to your business benefit in the future.

Stocking products because you like them? Are you the buyer? You don’t want to end up with 100 ladies bags in your wardrobe because you couldn’t sell them! You stock what is sellable and with the potential to sell.

Pricing - Your idea should be how to sell 1000 units of your product with 5% profit and not selling 10 units because of 50% profit. The actual profit is in the units and how fast the turnaround is, you have maintenance costs remember?

I hope this is helpful.

Now amend and go make that cash legally. Money is out there to be made but you need to offer something special and different.

Good luck.

#business
#businessdevelopment
#businessmodel 
#BusinessAssessment

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