strategy(2/0)
Customer knowledge affects sales strategy
One of the chief suspicions aroused in a customer when he’s sold to is, “What do they know that I don’t?” If the item is a bargain, it must have a defect. If it’s more costly, the seller’s trying to rip him off. With greater complexity and a higher cost comes higher suspicion. A car sale is more suspicious than a rummage sale. Companies have adopted ways to encourage customers to take the risk by offering money-back guarantees, warranties, and test drives, and.…
Launch your business with an exit plan
Have an exit strategy in mind. As Steingold poignantly asserts, “a new business doesn’t come with a guarantee (pg. 359).” Whether you ascribe to the optimist’s can-do attitude or the pessimist’s arguments for low success rates, all agree that entrepreneurship isn’t the path of those who wish for structure and security. This reality shapes the way entrepreneurs must think about entering into their venture. An individual who accepts a salaried position at a local business need not plan an exit strategy to protect herself from losing her life’s savings, but every entrepreneur ought to.…