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Tip of the Day Index Funds are Your Friend

Index Funds are Your Friend - Every stock market or stock exchange offers indexed funds and these index funds are more beneficial to you as a new investor as they...

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New Business Marketing

Q:Information required: I have a transporation logistics company that was recently created from 25 years experience. How do I combat questions such as: "How do we know if your going to be around after the first year?" How do I get across to people that my experience is more important than how long the business has been operational? I have a lot to offer but how do I get the message across?

A:A new business can offer many benefits to a client. "Because we are relatively new, we can give you more personalized attention." "Because we are new we will work extra hard because we need quality referals." "Because we are new we can approach your problems with a fresh prespective, not a cookie cut answer." Use your newness as a benefit in your pitch, not a hinderance. Speak of it as a matter of fact, not as a negative. It is just one objection. In the end people will do business with your firm based on what you are, not how long you have been around. Create an executive summary of your business plan and include it in your proposals. Partner with others, and use their credibility to establish yours. How do we know if ANYBODY is going to be around after another year? You could say that you've been doing this kind of work for 25 years, and you see no indications of leaving the field any time soon. Be sure to emphasise what advantages the prospect is going to gain from doing business with you. Do everything so professionally, look so good, that people will not be thinking about how long you've been in business, but are more immediately concerned with how their lives are going to be improved by doing business with you. I dealt with the same questions when I first started. There were several tips I was given by other entrepreneurs which greatly helped me: 1. Tell them straight up that you obviously can't predict the future, but that you went into business for the long run, not the short term. You are dedicating all your energy and resources to make this business work, and know that your first clients/customers are the most important. Therefore, they will probably get more value now than in the future. 2. If you have a business plan, edit it for their use - this is a very underrated purpose of business plans, but often extremely effective. 3. Give references of people who will vouch for your 'experience' to give prospective clients confidence. 4. If you are able to, do some pro bono work to get client references under your belt. 5. Explain that all businesses must start somewhere, and you only started this business because you had the confidence in your skills, abilities, and potential. The biggest key is that you are very positive and confident. Many people would crumble if placed into a defensive position like you have described. If you can make it out of there without their further questioning, you most likely overcame their concerns.

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Definition of the Day Proof Of Concept

Proof Of Concept – (Proof-of-concept) Referring to the types and applicability, reliability or evidence, verification, confirmation and corroboration, even substantiation, or resilience of data, fact etc. Also called POC, showing its usefulness and applications, features and possibilities, allowing to an extent no to low risk exposure and exploration, prospecting if...

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