Points: 1. Excess inventory 2. Customer list 3. Dead list 4. Excess time Excess inventory- during my 20 years of working with all kinds of small businesses I found that most have inventory they either have forgotten about because it is either out of date or out of style, or an ordering mistake. If that inventory has been laying around in a corner for years covered up by other junk, take a look at it, it is an asset that is worth something. Example: years ago when I was working in the radio business […]
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Killer Tactics Part 2
Offer what the competition can’t. Example: replacement guarantee.  Extend warrantee: Grandfather clock, the manufacturer offered a one year warrantee. The grandfather clock offered a three year warrantee because he knew very little chance of things going wrong. No haggle car buying. Tell sales person at the beginning how much they can discount the car to the customer. Let him make the decision. Create your USP: Make your business different from the competition. Most businesses in a category are pretty much the same. (Check out dentists in yellow pages) Example: Toothpaste example, […]
Killer Tactics to Use on Your Competition
Shop the competition: where are they strong, where are they weak? What do you know about your competition? What do they sell, what do they do? What are the strong points? Why do people buy from them? How are their prices? What are their policies, procedures, guarantees, etc. If you don’t know your competition very well, they will kill you. Don’t let your assumptions blind your judgment. Example: A printer I know that found out a competitor was charging much less than they, and said, “They can’t [possibly sustain that […]
Yellow Pages
1. What are the yellow pages? The yellow page directory lists all the businesses in a geographical area. It is one of the most powerful medium there is. 2. Why advertise in the yellow pages? Yellow page ads are always there when people are ready to buy. In addition, they have almost 100% coverage and distribution of directories in any market. Almost everyone uses the yellow pages. 3. What are the advantages and disadvantages of yellow page advertising? Advantages:  a. 100 % coverage of the market ( main major directory and the other independent […]
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