Daily Biz Solutions

Selling yourself to businesses can certainly be a nerve-wracking experience.

Whether this be a boardroom-style pitch or simply a face-to-face meeting when applying for director jobs or other high-profile positions, you need to get your pitch right to create the best impression possible.

This is especially true in the current economic climate when work may be thin on the ground.

Know your target market

Learn everything you can about the business with whom you wish to do business. Learn about their products and services and figure out how you can best appeal to them. Learn about their values and culture and what exactly they want in a client.

Find the angle that will emphasise the positive things that a deal with you will bring.

Dress to impress

What this means can differ wildly according to the industry you’re in, but always dress appropriately and professionally.

Plan, plan, plan

You might have planned everything to the nth degree, but business people are prone to throwing curve balls into the mix that can throw off your pitch and ruin your chances of success. Make sure you know your figures and that you have everything covered adequately.

Confidence

If you don’t have confidence in yourself and in your pitch, then there is little chance that seasoned professionals will have any confidence in you or your ideas. Know your strengths and emphasise them to the maximum.

Set your goals…

… and keep your goals in mind at all times. Know your price, and leave room to manoeuvre in the midst of negotiations.

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As an entrepreneur, it’s important for you to be aware of the risks and benefits of credit. Whether you are just getting started in business or if your company has been up and running for a significant length of time, knowing how to get credit when you need it and managing it effectively once you use it are critical to your success as a small business owner.

Credit is something that many small business owners need to use; it can be a lifesaver during start-up, expansion, and when cash flow is slow. Credit can also, however, hurt your business in the long run if you don’t use it wisely and carefully. There are many important factors to consider regarding small business credit.

When you need to borrow money for your business, consider all sources carefully. While it may be easy to open a new credit card, that is not always the best option. Make sure you understand the interest charges and fees before going this route, paying particular attention to the terms and conditions associated with any special introductory offers.

A new business owner might find it hard to get credit for the business on a stand-alone basis. Instead, it’s likely that he or she will need to personally guarantee the debt, unless the money is being borrowed against capital investments that can be used as collateral to secure the loan. Signing for a loan or credit card is not necessarily a bad thing, but you need to carefully consider what your signature means before you make a final decision.

It’s also critical to have a repayment plan. If you’re borrowing money to cover cash flow problems, make sure you have the ability to repay the money that you borrowed in a reasonable period of time and that the terms and conditions of the loan make financial sense for your company’s situation at the time.

Credit decisions should not be made lightly. Carefully consider what is right for your specific situation before deciding what route is the best option for you.

Attracting new customers is important, but it’s not the only thing that matters from a business development perspective. With so much competition for the dollars that consumers have available and are willing to spend, once you get a customer it’s important to make sure you are taking proactive steps to keep him or her coming back.

Since keeping the customers that you have is an important key to success in the modern business world, figuring out how to encourage customer loyalty is something that marketing professionals need to focus on. There are many options for customer loyalty programs, from simple punch cards to modern high-tech loyalty rewards technology options like swipe cards and automatic points earnings programs that provide customers with coupons and special offers based on number of visits or dollar amounts spent.

No matter what kind of business you have, whether it is product or service oriented, you cannot afford to overlook the importance of devising an effective strategy to encourage your valued customers to keep coming back to you time and time again. While there is, of course, no substitute for delivering what you promise, when you promise it, at an affordable price, that’s not always enough to keep your customers coming back. Look beyond just making sure your customers are satisfied with your company to finding a way to ensure that they become truly loyal.

Starting a new company can be exciting. The attached dreams and anticipation of success fuel the entrepreneur’s enthusiasm. That’s important because starting a company requires a lot of time and effort. Attention must be paid to even the smallest details, including that of choosing a company name.

The truth is, this choice can be critical to the long term success of the company. In order to assist with this ‘name choosing’ dilemma a new industry has developed. Many people hire ‘name consultants’ to help them choose a proper company name. One name consultant company has even come up with a ‘smile and scratch’ test to help with the name choosing process.

Things to Avoid When Naming a Company

Plain Vanilla - A company name should stand out. This means you should avoid using plain or vanilla type names. The idea is to choose a name that grabs attention. It’s very helpful to choose a company name that is unique in nature.

Maps & Fences – Every company starts out small and hopes to grow as time goes by. This means everything related to the company should be scalable. That includes the company name. If you fence the company in with the name of a city or specific product you may hinder the company’s growth potential. As time goes by the company’s target audience may grow to include other locations and additional products and services.

Puzzles – Your company name should be interesting and it can even be complex; but it should not be a puzzle. In other words, the name should logically relate to the business. Potential customers should be able to make the connection without an explanation.

Tips for Picking the Right Name

Get Inspired – Researching successful businesses and company names can be a great way to get inspired to find a quality name for your company. Look to leaders like C. Phillips of Oracle and others for inspiration.

Make It Easy – Choose a company name that makes it easy for potential customers to understand and remember. Do this by choosing a name that logically relates to your company. This makes it possible for anyone that hears the name to immediately connect it with the business’ purpose.

Be Different – Your company name should stand out from the names of competitors. Dare to be different and unique. This helps you create a distinctive brand that will be remembered.