Bad experiences with Direct Sales?

What are strategic plans, advice, and experiences regarding sales and approaching new customers?

• Answer:

  Your best starting point is to understand the true nature of market  research and understand the requirements for a marketing plan. TASTE, TRENDS AND TECHNOLOGY What   does your research indicate is the trend in your field? Will it stay   the way you are currently offering supplies and services or will it   change? This item covers the developments you expect for the next few years. Evan a 'perfect' business can become obsolete overnight due to future developments. Specify a 5 year forecast of your field in your area.  Below is a link to assist you in understanding the true nature of market research: http://www.wired.com/2013/09/why-do-research-when-you-can-fail-fast-pivot-and-act-out-other-popular-startup-cliches/ SALES REVENUE FORECAST Have  you developed these targets? This section shows your estimates of  future sales revenue for your business. Your strategic plan, needs to  spell out the specific actions you will take to achieve your forecast  sales revenues. DIFFERENTIATE YOUR BUSINESS FROM THE COMPETITION How   does your business differ from the competition's strong and weak   points. Again, remember to carefully look at your business from the   customer's perspective. If you're not sure how your pricing policies   compare to the competition, here are some guidelines. Most people  associate high prices with high quality and  extra service, while they  associate low prices with low or average  quality and minimum service.  Make sure you provide extra quality and  service if your prices are  higher than your competition or make sure  that your prices are lower if  your quality is average and your service  is minimum. DECIDE HOW TO REACH CUSTOMERS Once  you describe  your target customer, it's easier to create a list of  possible ways to  reach that person. One of your jobs as a  businessperson is to decide  which of all the possible methods of  communication will give you the  most exposure for the least cost in  money or time. EVALUATE THE RISKS FACING YOUR BUSINESS       COMPETITION: Most businesses have competition. How will your business   differ in significant and positive ways from your competition? If your   competition is strong, don't minimize that fact, but figure out ways  you  will adjust to or use that strength. For example, if you plan to  open a restaurant next to an extremely popular one, part of your   strategy might be to cater to the overflow. Another might be to open on   days or evenings when the other restaurant is closed.       PIONEERING: If you anticipate no direct competition, your business   probably involves selling a new product or service, or one that is new   to your area. How will you avoid going broke trying to develop a market?       CYCLES AND TRENDS: Many businesses have cycles of growth and decline   often based on outside factors such as taste, trends or technology.  What  is your forecast of the cycles and trends in your business? For   example, if your forecast tells you that the new electronic product you  plan to manufacture may decline in three years when the market is  saturated, can you earn enough money in the meantime to make the venture  worthwhile?      SLOW TIMES: Every business  experiences ups and downs. Is your business  small and simple enough, or  capitalized adequately enough, to ride out  slow times? Or do you have  some other strategy, such as staying open long hours in the busy season  and closing during times of the year when business is slow.     OWNERS EXPERTISE: Nobody knows everything. How do you plan to compensate for the knowledge you're short on? Write  your risk analysis by first thinking of the main dangers your business   faces. This shouldn't be hard, as you have probably been concerned  about  them for some time. Some of these may be on the list set out  above; others will be unique to  your business. Once you have identified  the principal risks facing your  business, write out a plan to counter  each. But don't bog yourself down worrying about all sorts of unlikely  disasters.