Don’t Get Bullied By Your Own Ideas!

September 29, 2009 by Chris  
Filed under Leadership Skills

Quite an interesting title, isn’t it? But this is the scenario today where thousands of individuals raise money for their businesses only to get bullied by their very own investors at the end because just that, idea didn’t work but I can understand you perfectly well, as an entrepreneur there are lots of ups and downs till you reach your final destination. A funded start up is always demanding from its deepest core since the time of inception to the growing process and the final delivery process, as much as investors are looking for profits from the venture, you try to achieve to the fullest that is possible from your end but what if the idea itself doesn’t work. This may happen because there was no proper marketing mix, probably the idea was out dated, or may be your customers were finding it costly, there can be N number of reasons you can state for your failure.

Some people think that if they rake in good number of investors in their company either from joint venture or selling the stakes in the companies, it is good sign of success. Then I think, they are highly mistaken for the fact, that most of take over happen because company is facing turbulent times, now there are again 2 possibilities, investor may come in due to his personal interest or simply want to help the company but the profit motive always remains. A person’s hard earned money is always the biggest risk individuals take while investing in risky businesses especially when it has no profits or shown downward spiral.

Sometimes, when you get investments coming to your company, you are easily excited about getting money and starting with few more ventures but you really miss to know, that it can really become hard for you in the future as most of the times even when its your idea of a particular business or marketing tactics to be used for product, there are investors who make major decisions of the company and that really bites your nerves. You have to do as per their wish only because they are the investors! Now that may or may not get consumed by many individuals, though you can always proceed towards achieving your goals tactfully even when they are against your decisions.

investments

I had been attending so many conferences and workshops about entrepreneurship, take over, joint ventures and many more, the end point that they discussed was are investors really be allowed to take company decisions when they really don’t know anything of the process they have invested in, let some things be left to the individuals who are actually experts in it. The idea here is not to get bullied by your own people may it be your investors, your colleagues, your partners. If you are wrong, they can surely pin point anything. My advice to you is, use your ideas in a more receptive manner and make them understand if they don’t agree with you. Sometimes even the majority decision taken in a company fails due to improper project report or lack of judgment matter or due to peer pressure – juniors follow their seniors blindly without thinking logically.

young entrepreneur

An idea comes to a person only when he can think rationally, logically and practically. Although it fails sometimes but not always as, “Failures are stepping stone to success”, no one gets success without facing the failure and as time moves on you tend to learn by your own mistakes, you made as a young entrepreneur. Experience is all it wants, make proper study reports, presentations, market research, individual customer data and company financial data of a company – after analyzing all of these you can proceed ahead to fetch in investors and this will make sure that no investors ever bullies or surround you next time. Prepare yourself for all types of possible questions, give them the answers in a very quiet and dignified manner and you will never miss to win their hearts!

How To Motivate A Potential Buyer?

September 14, 2009 by Chris  
Filed under Leadership Skills

The markets are huge across the world and along with it comes huge competition, how does someone assure his buyer as to why he should buy the product from remaining brands in the market, the motivation and assurance is all it takes to convince your buyer that your product is the greatest in markets across the globe. There have been so many conference and meetings I attended to which were relating to marketing, leadership, global entrepreneurs meet and lots more, the one that strikes me or rather lets me excite is the confidence which speakers direct to their audience, you feel a real you and get motivated to such an extent that you want to start selling everything right way. Unless you have set targets for yourself and the discipline to sell it today and not tomorrow, you stand nowhere in the global competition.

Marketing has many disciplines, which you have to follow religiously to assure your buyers in to buying your own products. Some people do have misconceptions relating to marketing but it can be rectified as the person experiences the fault in his system. The most important of all the marketing tactics is to know the psychology of your buyers, this will help you find out what sentence would assure your buyer in to buying your products or services. You have to gather all the points, which makes your product better than any others in the market area. It pays when you give your best may be not now but at the end, as per my structural plans for marketing I have gathered 3 main keys that are surely going to be a great success. Just try them out and see if it increases your sells, they are 1) emotions, 2) teaching and 3) trust. Given below are some of the points that cover these 3 ingredients for a perfect marketing mix.

  • To the conferences I had been, I really give thumbs up to the speakers, with so much energy they speak as if they are selling themselves. It’s actually the inspiration they are pushing towards you, get inspired and start selling.
  • Use varied marketing techniques and use examples on personal front may be yours or your buyers, get them attached to the products emotionally.
  • Think of the quality of the products you are selling and not the quantity, focus mainly on “what” you can sell rather than “how much” you can sell. Some might deny with me, but for the new entrepreneurs it is the quality that they serve counts rather than the quantity.
  • Just talking to your customers will let you know about their likes and dislikes, assure them and you will find a person with emotional feelings will surely go for the product.
  • Let your customers know more about the product and fill them up with extra knowledge that you have, this is one trick – when you make them understand something, it will create more trust and there by more business.
  • Business is all about building relationships, if you want to run your business for a longer period of time and keep
    motivate a potential buyer

    selling your products, you will have to create that confidence amongst your buyers by serving them the best quality products and services.

  • Sell your products through the trust that your customers or potential buyers make upon you, carry that trustworthy relation in further endeavors with them.
  • Combine all the elements that you can pitch for your sales and remember the keyword trust is all that counts for a lasting relationship.

All the concepts that I stated above are interconnected so if you miss out on one particular ingredient you have to cover up the loss in another one, have the aim of not losing your customers by any chance.