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Digg it UP - Deadly Mistake No 1
Quite a few clients have told me that marketing is difficult for them. It is difficult to get started with marketing; it is difficult to figure out how to market, and it is difficult to understand how to market effectively. Even if you are already using marketing techniques to promote your business, there is no guarantee that your marketing efforts will bring the results you ar
Don’t bother to calculate – here is the answer: if YOUR colour is A, you’ll sell 3 pieces (success rate of 30%), 2 pieces if your stock is in colour B or C, and only one piece (or none) of any other colour.
In any business it's very difficult to successfully do everything yourself. A carpenter might have the practical skills to start his own furniture business but lack the financial or marketing skills to make it a success. Somebody with a keen business brain might spot an opening for a classy restaurant but lack any culinary knowledge with which to create the actual menu or food
The deadliest of all mistakes is Business Mistake Number 1:
“ I don’t like it, therefore I will not sell it .”
Before we go any further, let me just make clear that I am not talking about doing something you don’t like or running a business that you are not committed to or passionate about. This is about a very common misconception - that you should only sell product YOU personally like and adore.
Here is a small illustration.
Let’s say you are in a room with 10 people. You ask each one of them a simple question: What is your favourite colour? Now, do you expect that all 10 of them will tell you their favourite colour is red? Absolutely not. Would it be reasonable to expect that 5 would go for red and 5 for blue? Very unlikely.
So what would be a realistic response to your question? Probably something like this: 3 people would choose colour A, 2 colour B, another 2 colour C and colours D, E and F would have one vote each.
Let’s move to the next step.
Say these 10 people are your customers and each one of them has decided to buy only one piece of jewellery in her favourite colour. Let’s also assume that your stock consists only of jewelery in YOUR favourite colour. How many pieces would you sell to that group?
Don’t bother to calculate – here is the answer: if YOUR colour is A, you’ll sell 3 pieces (success rate of 30%), 2 pieces if your stock is in colour B or C, and only one piece (or none) of any other colour.
When you have goals for your business, you expect your employees to work toward those goals. However, more often what is occurring is that work time is becoming a social hour. When you look around and see employees hanging around chatting and not getting their work done, it can be extremely frustrating. There are things that can be done to eliminate the downtime of your office.
Here is a small illustration.
Let’s say you are in a room with 10 people. You ask each one of them a simple question: What is your favourite colour? Now, do you expect that all 10 of them will tell you their favourite colour is red? Absolutely not. Would it be reasonable to expect that 5 would go for red and 5 for blue? Very unlikely.
So what would be a realistic response to your question? Probably something like this: 3 people would choose colour A, 2 colour B, another 2 colour C and colours D, E and F would have one vote each.
Let’s move to the next step.
Say these 10 people are your customers and each one of them has decided to buy only one piece of jewellery in her favourite colour. Let’s also assume that your stock consists only of jewelery in YOUR favourite colour. How many pieces would you sell to that group?
Don’t bother to calculate – here is the answer: if YOUR colour is A, you’ll sell 3 pieces (success rate of 30%), 2 pieces if your stock is in colour B or C, and only one piece (or none) of any other colour.
When a teaching vacancy is advertised, it may elicit hundreds of responses from well qualified candidates with a keen interest in the position. That's why it's so important to write a cover letter that instantly commands attention and persuades the recipient to give your resume the attention it deserves.Cover letters in the teaching profession usually follow the same fun 10 people. You ask each one of them a simple question: What is your favourite colour? Now, do you expect that all 10 of them will tell you their favourite colour is red? Absolutely not. Would it be reasonable to expect that 5 would go for red and 5 for blue? Very unlikely.
So what would be a realistic response to your question? Probably something like this: 3 people would choose colour A, 2 colour B, another 2 colour C and colours D, E and F would have one vote each.
Let’s move to the next step.
Say these 10 people are your customers and each one of them has decided to buy only one piece of jewellery in her favourite colour. Let’s also assume that your stock consists only of jewelery in YOUR favourite colour. How many pieces would you sell to that group?
Don’t bother to calculate – here is the answer: if YOUR colour is A, you’ll sell 3 pieces (success rate of 30%), 2 pieces if your stock is in colour B or C, and only one piece (or none) of any other colour.
The authority over federal payroll tax in the United States is the Internal Revenue Service (IRS that determines the percentage of payroll tax withheld from an employee's wages, the formalities to be fulfilled by an employer and any other issues relating to federal social security, Medicare and unemployment taxes.Federal payroll tax withheld from an employee's wages and on? Probably something like this: 3 people would choose colour A, 2 colour B, another 2 colour C and colours D, E and F would have one vote each.
Let’s move to the next step.
Say these 10 people are your customers and each one of them has decided to buy only one piece of jewellery in her favourite colour. Let’s also assume that your stock consists only of jewelery in YOUR favourite colour. How many pieces would you sell to that group?
Don’t bother to calculate – here is the answer: if YOUR colour is A, you’ll sell 3 pieces (success rate of 30%), 2 pieces if your stock is in colour B or C, and only one piece (or none) of any other colour.
Most of us spend more time AT WORK then elsewhere. If you're like the rest of the working stiffs... it's about 60% up to 70% or more of your time either traveling back and forth plus 8 to 12 hours on the job for your employer. We call that full-time.One thing is SURE... it's nice to have a career path that challenges your best self and gives you joy as you work. Moneye that your stock consists only of jewelery in YOUR favourite colour. How many pieces would you sell to that group?
Don’t bother to calculate – here is the answer: if YOUR colour is A, you’ll sell 3 pieces (success rate of 30%), 2 pieces if your stock is in colour B or C, and only one piece (or none) of any other colour.
However ff you stock product in both your favourite colour and a few more colours that you dislike, you will sell significantly more pieces. Clearly the seller with a wider range of goods in various colours, shapes, sizes and styles is the one that caters for a wider audience and, therefore, will satisfy the needs of a larger number of potential buyers.
If you decide to stock only goods that YOU like, then you are automatically limiting yourself to a very small section of the market. Some retailers are so good at selling so little, that when they eventually go out of business they would rather blame trends, ignorant buyers, the economy, fashion, suppliers or even the Tax Office. Anyone but themselves and their lack of vision.
We come in different packaging; some of us are tall, others are petite, and some of slightly more solid build. Some are sophisticated and always on the cutting edge, others are completely unable or unwilling to follow fashion trends. But all of us have one need : to feel better and look beautiful by buying a product that will satisfy OUR spoken or unspoken needs.
Therefore, when it comes down to a choice between selling what you like and selling what your customers want, make sure to be open-minded about your product and remain customer focused at all times.
Ta
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