How do you go about setting the pricing for your products or services? Setting goods prices may seem easier because you have actual labor and manufacturing costs and the associated materials purchasing required to make the product. Those numbers are easier to see and calculate. Yet a first time entrepreneur can still make mistakes like Katie Danzinger, founder of Nomie Baby in Manhattan did when she began selling removable, washable infant car seat covers.
According to this article in the NY Times in the Small Business section titled Real-Life Lessons in the Delicate Art of Setting Prices, Ms. Danzinger thought she had all her bases covered but didn’t factor in enough for printing of marketing materials, shipping, storage, packaging or liability costs. But an increase of 6% in the selling price put her back on track.
Relationship marketing and building rapport with your prospect during the sales process is one key to good salesmanship. The relationship between you as the salesman and your prospect has to begin by building trust. You don’t ask someone to marry you on the first date, and you don’t ask for the sale before building a foundation of trust.
A Sales Strategy for Relationship Builders
While there are many, many, many of you who have chosen to be business owners, I would venture to guess that fewer of you have had formal sales training or had to develop a sales strategy. When you decided to become a business owner, you didn’t necessarily make that decision with all the facts in place. You did it out of passion for your work, which is great and I think more important really. Who doesn’t want to feel passionate about what they get to do at their job everyday, it makes life so much more enjoyable.
But once you open the doors to your business, you are suddenly responsible for everything which includes bringing in new business and that makes you the chief of sales strategy. I never worked for the type of company that had sales training so learning how to bring in business so that I would get the opportunity to do what I love was something I had to learn quickly. (more…)
Sales Training and Sales Tips That Build Business
Not all entrepreneurs have the great fortune to have been part of a large corporation where they received expert sales training. And that, my friends, is unfortunate. Because without sales there is no business.
No Sales = No Business = No Money
That’s a very simple equation.