HOW TO GROW YOUR BUSINESS
With less and less jobs, more and more people are joining the race to start their own businesses. The latest survey shows that since Corona hit our country, we have registered the highest number of company registrations and business name applications. Even the employed people are starting side hustles to complement their salaries. This article is for you.
How can one start and grow a business successfully? Before we answer that question, we must ask ourselves this question, which is the most important department in a business set up? Is it accounting? Finance? Human resource? Insurance? Banking?Marketing? Or sales?
The most important department is sales department. All the other departments depend on sales department. It is the department that produces revenue and income to the business. It is the one that ensures cash inflows exceeds cash outflows.
Big organisations have hired sales people. On the other hand, for solopreneurs (the only owner of a business) they are the ones who do sales.
In this article I will explain how you will grow your business.
The sales cycle comprises of four steps:
In sales language, a suspect is anyone who you think needs your goods or services. Might be your relative, friend or neighbour.
A prospect is a converted suspect. It is anyone who you think needs your goods or services and you’ve gotten in touch with them to ask if they might need it. The prospect might be;
~Buyer initiated – the buyer looks for the seller.
~Seller initiated – the seller looks for the buyer.
~Referral oriented – the buyer gets in touch with the seller after being told about the seller by a former buyer.
Always ensure one job gives you atleast three more jobs, don’t be scared to ask for referrals.
To learn prospecting, one must master the art of cold-calling. Cold calling is calling a stranger with the intention of asking them to buy your product. For cold calls, you need greeting, benefit and request.
3. Sales presentation.
This comes after you have cold called and requested for an appointment with the prospect. Sales presentation comes during the appointment. This is the time when the seller explains the values and benefits of the product. During the appointment, the seller must be careful about the smile, dressing and handshake. The seller should give the prospect insights and not just information.
During the sales presentation, the prospect will give out objections including:
Remember, people work with people they know, like and trust. So build rapport, build relationship, build trust.