Entrepreneurship is all about juggling a lot of balls in the air --all at the same time. Managing the business, the people, the space, the R&D of the product and/or service, the marketing (including the website) and YES - most importantly, the sales.
Women entrepreneurs, particularly, must understand the significance of sales on their business success. As a business coach, I work too often with women entrepreneurs who spend their time improving all the other aspects of their business while mistakenly thinking sales is a "build it and they will come" strategy.
Without sales you have no business. The true definition of business is an organization engaged in the trade of goods, services or both to consumers. (wikipedia) and trade is the action of buying and/or selling services. It begins and ends with sales.
Pictured is a woman entrepreneur who knows she must produce her wares and do whatever it takes to make it available to her customer. In many countries around the world, women entrepreneurs, like you and me, do whatever it takes to increase sales.
Here are my 3 tips to increase your sales:
(1) Your current customers are your best advantage. Treat them well. The 80/20 rule is true across industries. 20% of your customers should be 80% of your sales - if not, start NOW. This is called upselling. Your current customers are also your best source for referrals - ASK for referrals - offer discounts or added incentives.
(2) Know your TARGET market. You've heard this before, but perhaps don't understand the concept. Sit down and create a profile of everything you know about your customer. Gender, age, residence, economic background, social life, habits etc. You'll find that your product/service appeals to a certain group. Once you have defined this group clearly you will be able to turn sales into a numbers game. Figure out how to reach this group and your success rate will increase.
(3) Listen to prospect's needs. You can't sell "ice to an Eskimo" or maybe YOU can...but unless you can provide a solution to a prospect's problem you are unlikely to make the sale. Once the prospect gives you the opportunity to have the conversation, you are more than 50% closer to a sale. The conversation itself opens the door to hearing what issue the prospect needs answered. Demonstrate to him/her how your product/service meets the need and you'll complete the sale.
No business is successful without a strong focus on sales. And whether or not you, the woman entrepreneur, do the selling youself, you are responsible for making sure that your company is taking advantage of every sales opportunity.
Pictured here, this Thai woman entrepreneur is not afraid to promote herself and her product to the American tourist missing her donut craving. She understands that her business depends on her ability to target her market, listen to needs and SELL! Now it's your turn!
