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Imagine networking and sharing ideas with other businesses in Pittwater:

  • listening to business leaders and experts who want to help your business grow
  • Increasing sales through a member discount program
  • with a low membership fee to join!

Would your business benefit from that? If so, please click on "Member Button" to become a member now.

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PBL Articles

Global Economic Downturn

The papers are full of it - the news bombards us with yet another multinational corporation losing half its stock market value, confidence is down, the housing market is stalled and there is a global credit crunch hurting everything.

But is it all doom and gloom and should we all throw our hands in the air and hit the beach (we might as well go broke there, right?)? Or is there more noise than there should be and is there something we can do to protect ourselves and even prosper while all the sheep run around with their heads cut off panicking and mixing their metaphors?

The companies failing seem to be the ones who allowed greed and hubris to guide their business strategies – and had high risk practices. Retail confidence is down but isn’t that why we have had interest rate rises – to slow down our screaming economy? The housing market is stalled but, again, much of the damage is in those outer suburbs where people have been enticed to overstretch themselves with cheap and large mortgages – risky practice, greed and interest rate rises again.

So, is it as bad as the media suggest? I don’t know, I’m a business coach not an economist but I don’t think we should be panicking.

Whether we are in a crisis situation or not and whether or not the economy is being slowed down on purpose by our vigilant central bank, it is clear that we are not in a booming economy at the moment. For those of us in small business, it is a good time to think about what we’re doing.

So what should we be doing?

I’m running out of space, so here’s a short list:

Keep marketing for goodness sake – if you lose customers and don’t keep marketing, the downward spiral is fast and nasty – keep the pressure on your marketing and your selling

Pay attention to collecting your money – don’t leave it to chance, like most of us do – call when invoices are due and ask, directly, for payment. Or demand cash with order!

See if you can lift your prices a little without losing business (it is not true that all your customers make their buying decisions on price alone!)

Have a go at your suppliers and see if you can squeeze them a little – for better prices or better credit terms, delivery terms or another non-price benefit.

Focus on your loyal customers and find ways to keep them loyal (by giving them something excellent but that doesn’t cost you the earth)

It’s a short list, sorry. If you want more help you know where to find us! (www.sfbc.com.au)

As the man says: "stopping advertising to save money is like stopping your watch to save time" William Bernbach, Advertising guru who is in the American Advertisers Hall of Fame

By Jon Dale, Small Fish Business Coaching
www.sfbc.com.au


Sales is not a dirty word

Author: Jon Dale

It’s a common perception that salesmen are somehow despicable and dishonest.

This is born of our cultural experience of snake oil salesmen and door-to-door spruikers using high pressure techniques. Think of carpet steamers and time-share.

We forget all the other times we spend money in exchange for goods or services – often quite excellent ones we want or need. In every case, we are buying and someone else is selling – yet we don’t think of them as salespeople or as what they do as “selling”.

Fair enough, but they are selling and we are buying.

The problems occur when you try to run a business without properly making sure your products and services are sold – in other word without selling. Selling is an important part of business – no transaction occurs without it – and without doing it properly, you are leaving your business’s success to chance.

Please, please don’t think that the quality of your product or service will shine through and that people will come and buy it because it’s excellent. The world is full of excellent products that died on the vine – Betamax video is one example.

People need to be made aware of your product, shown what it can do for them or what problems it can solve for them and why they should buy it. Then they need to be asked to make a decision – buy it or not.

Don’t panic! You don’t have to go and buy a shiny suit and get your teeth whitened! You can sell professionally without betraying your integrity and without people thinking of you in that way! (No, really, you can!)

I can’t explain it all in one short article and I’m running out of space, but have a good look at your business and ask yourself the following:

• Am I letting my market know about my products?
• Do I make sure they get to see why my products are good for them?
• Does my business engage with them, so we can exchange information and decide whether we like each other enough to do business?
• Do they get asked to decide?

Suck it in, you have to do selling – without it, nobody buys!

Jon Dale is a local Business Coach. He often meets people who will do anything rather than ask people to buy. Jon is a member and Director of Pittwater Business Limited, which exists to connect, promote and develop our businesses by networking, education and socialising."




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