How to Insure a New Business

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Your new business may encounter problems as it begins to promote goods and services in the community. A flood or fire in your production facilities could damage your inventory or one of your employees might fail to place a warning on an electronic product. You can insure your new business against liability and loss of property with the right insurance policy.

Become conversant in current business insurance issues by reading the right literature. Visit TSBIC.com for answers to frequently asked questions about small business insurance (see Resources below). Some business magazines also feature resources for grading the best and worst insurance companies on the market today.

Review the health, dental and auto insurance offerings of a potential business insurance provider. Most forms of business insurance do not provide for employee benefits. If you can find a deal on a wide range of insurance policies from one carrier, you can simplify the claims process.

Search for specialized insurance policies if your new business requires coverage specific to a particular industry. Farms, construction companies and real estate firms require insurance coverage that exceeds the financial limits of general business insurance.

Determine the presence of liability insurance before you allow a company to insure your business. Liability coverage limits the amount of legal action that a consumer or competing company can take against your employees.

Avoid damage caused by natural disasters with business interruption insurance. When you find business interruption insurance, you insure yourself against damage done by floodwater, fire and earthquakes. These types of policies focus on protecting your inventory and equipment from irreparable harm.

Protect your company's vehicles with business vehicle insurance. Like regular auto insurance, business vehicle coverage helps your company recoup losses from car accidents and vandalism. You should note that insurance restrictions are high for business vehicles because they are only meant for use during office hours.


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Political risk

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The political stability of a foreign country into which a company is exporting is of the utmost importance. Exporters must be constantly aware of the policies of foreign governments in order that they can change their marketing tactics accordingly and take the necessary steps to prevent loss of business and investment.

Instability in the target market could lead to losses resulting from war, civil strife and political instability. It is essential to warn exporters to be aware of government intervention in the target market. Most countries world-wide operate under a capitalist system within which the volumes and values of goods and services whether provided locally or by way of imports, are set by the forces of supply and demand. There are, however, still a number of countries in which the government plays an interventionist role. Examples of such economies include North Korea, Cuba and Vietnam. In certain other countries, partial liberalisation of trade has been achieved but the extent of this liberalisation still has to be investigated by any exporter wishing to enter these markets.

Furthermore, while there are certain countries that appear to have advanced towards a more open market, there may be constraints upon their foreign currency reserves. In such countries the Reserve or Central bank of that country may not have enough foreign exchange to allow payments to progress thereby again resulting in the risk of non-payment for the exporter.

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5 Ways to Strengthen Customer Relationships

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Strengthening the relationships that one has with customers is very important. Customers that feel comfortable and have a good working relationship with a specific person or business will return to patronize that person or business again. There are generally 5 ways to strengthen customer relationships.

First, making sure that customers are taken care of is vital. People need to know that a salesperson or employee cares about them. There are many ways to make this happen, and a business owner or employee should use whatever tactics work best.

Second, price things fairly. It is true that one has to make a profit to stay in business, but also true that a reasonable price can be charged so that profits are made and customers feel as though they received a good deal.

Third, remind customers about the business. Customers will not keep shopping at your store if they forget that it is there. Advertising helps to remind them that they want and need what you have to offer.

Fourth, keep your store clean and neat. No one wants to shop in a dirty store, or one that appears unsafe or uncared for. It makes customers feel that a business takes no pride in what it has to offer to others.

Fifth and finally, make sure that employees take care of themselves, as well. This does not mean they are all expected to look like supermodels. It only means that they should make an effort to stay neat and clean, as hygiene is important, especially in the selling profession.

By following these simple tips, a business and its employees can greatly strengthen the relationships that are seen with customers. This will make customers want to shop at a particular store, and can keep them coming back more often than they otherwise would. They may also spend more money at that store, helping the business profits to grow, as well.


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Five steps for dealing with angry customers

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Every sales person will have at least one difficult customer during their career.

In fact, some experts argue that if you don’t have at least one angry customer by 10:00 a.m., you aren’t trying hard enough! While I’m not sure I subscribe to that particular philosophy, I do know that you can’t please all the people all the time. Nor should you strive to do so.

As a sales professional, what you do need to understand is how to handle angry customers whenever they inevitably come into your life. The following five steps will help you deal profitably with angry clients to make sure they remain loyal customers, and continue to be a source of future business and referrals.

Step 1: Never argue

Have you ever seen a harried mother in a restaurant or supermarket get into a shouting match with a young child? Even if she wins the argument, she loses, because she has allowed the child to bring her down to their level of combat.

The same holds true for business. You can't let a customer sucker you into an emotionally heated argument. The moment you do so, you lose your two greatest assets: your role as a professional and the advantage of a calm attitude.

Instead of getting angry, the best thing to do when a customer is mad at you is to thank them. Try something like: “Thanks for bringing this to my attention. I appreciate the opportunity you’ve given me to improve (the level of service, my responsiveness, etc).”

The key is to not respond either defensively or angrily. There’s an old saying that you can’t win an argument with a customer because they have the final word on whether to take their business elsewhere. Most sales people – like most people period – get their dander up the moment anyone says anything even remotely negative. They get defensive, angry or, even worse, they look for ways to retaliate overtly or coercively. The result is usually lost business and the end of a once-profitable relationship.

Remember: it takes two to argue. Note that, in the above example, you never say you agree with the customer’s complaint. You just acknowledge it.

Nine times out of ten, the customer has worked themselves into an even greater frenzy at the idea of the battle they’re expecting to have with you. If you don't get emotionally involved or provide the anticipated resistance, their anger will dissipate as quickly as it came.

Step 2: Put your ego aside

Do you want to be right, or do you want to be successful?

I don’t know about you, but in my opinion, being right is a lot less important than being successful. The top 10% of sales people always put desirable results (and greater profits) ahead of all other considerations – including their own ego.

In situations where you have an angry customer on your hands, this means focusing first and foremost not on defending your actions, but on defusing their anger, resolving the problem and keeping their business.

No matter how annoyed or insulted you may feel, never try to make the customer feel foolish either on purpose or by accident. Showing your customer that you are smarter or more knowledgeable might feel good in the heat of the moment, but in the long run, it will end up hurting you a lot does them.

You need to measure your success in these situations not by how well you “showed him,” but by how effectively you attained a profitable result and kept your customer.

Step 3: Listen

Give your customer a good old-fashioned “listening to!”

I can’t stress this enough: when handling a customer complaint, listening is far more important than talking. Whether you think they’re right or wrong, your client is entitled to their opinion. So whatever they have to say – hear them out.

Listen to what is being said, process it, reflect on it and then use it to improve. If you listen with the intent to improve, you’ll have an even better chance of actually understanding their point of view. Plus, if your client feels that you are taking their opinion seriously, they’ll be much less likely to stay angry, and much more willing to work with you to reach a satisfactory resolution.

Use the active listening techniques you’ve developed as a sales professional to ask probing questions or ask for examples. Sit up straight or lean forward, nod your head occasionally and give brief verbal encouragements such as “please go on,” “I understand” or “yes.”

Try taking notes to show that what they’re saying is important to you. And remember to let the client do at least 70% of the talking. Your customer wants and needs to tell his whole story without significant interruption. When you're listening, a minute can seem like an eternity. Don't let this distorted sense of time force you into becoming impatient.

At the end of the conversation, summarize what they’ve said to show them that you were listening and that you do understand. Then ask for one more opinion: what they think you could do to improve.

When you demonstrate real interest and concern by actively listening to what your customer has to say, you are showing that you respect them and take their problems seriously. By promising to take action to fix those problems, you simultaneously make the customer feel important and re-establish your own credibility in their eyes.

Step 4: Adapt to their personality style

We all know that different people have different personalities.

Some people are highly logical and analytical, interested in facts, statistics and technical explanations above all else. Others are more emotional and tend to be motivated by relationships. Others still tend to be urgent, bottom-line thinkers.

To get a feel for the type of person you're dealing with, watch their body language, the clothes they wear or the way they carry themselves. Even over the phone, a person's choice of words can yield important clues to their personality. When you think you have some idea of who they are, try to adapt your own personality style to better keep pace with theirs.

With a little practice, you’ll probably find this to be easier than you think. Once you’ve tried it a few times, you may also find that it makes your own work a little more interesting as well.

Step 5: Commit to improve

An uncertain customer is an angry customer. So never leave a customer feeling unsure of where they stand.

Consider this example. Suppose you bought a bookcase that you have to put together yourself. You lug the box out to your car, drive home, drag the box into the house, open it, gather all the necessary tools together, carefully figure out the instructions and assemble everything except the decorative front panel. You’re ready to put this final piece in place when you discover that one absolutely crucial hinge is missing.

Frustrated and perhaps dropping a few colorful words on the way to the phone, you call the store. The manager says to you: "I don't know what we can do or where we can get the part. Give me your number and I'll get back to you."

How do you feel? Does that response satisfy you?

Of course not, because you've been left with no real commitment and no idea of how long it might be until your problem is solved. Now, how much better would you feel if the manager told you: "I don't know what we can do or where we can get the part. But I'll get to work on finding a way to solve this problem immediately and I'll call you back absolutely no later than three o'clock this afternoon. Please give me your number."

It still doesn’t get you your bookcase built, but doesn’t having the time commitment make you feel much better? This goes for your own customers, too. Being vague or non-committal will only make them angrier than they already are. Being specific and making a firm commitment will leave them feeling much more satisfied with both their current issue and their ongoing relationship with you.

Always let the customer know that you appreciate their opinions and suggestions, and that you will be taking concrete steps to improve. You can even go so far as to ask whether they’d like you to check in with them again in a couple of weeks.

In the meantime, don’t turn your back on what they’ve said or try to forget about it. Spend some time looking for any validity in their criticism, and perhaps share the feedback with someone you can trust to tell you the truth. This will also give you a good chance to look at the criticism from a neutral perspective.

One last thought

I’ve seen far too many people pull ads, cancel programs, postpone events or ruin otherwise profitable relationships just because somebody got offended. So whatever you do – don’t ever take criticism personally.

I know this can be hard, especially when it’s coming from someone you like (or someone who signs your paycheck!). The fact of the matter is, if you’re not offending at least one person, you’re probably not pushing hard enough.

The real you may make 2-3% of your clients uncomfortable. That’s okay, because you weren’t going to sell to them anyway. The thing to remember is that the other 97% of your clients really want to see your personality, your style and your communication reflected in your work. If you try to make everyone happy, the only thing you can be certain of is becoming a bland commodity that no one will be particularly excited about.

Only you can give other people permission to make you feel bad. Interpreting criticism as a subjective opinion with a concrete solution instead of a personal rebuke will help you grow, build better relationships and, ultimately, become more successful.

So take the opinions and criticism of others seriously, not personally. Use what they say to create an action plan to improve your performance. And don’t worry about being perfect.

As the Bard once said – to thine own self be true. Be your best not for your boss, your customers or even your family. Be your best for you.

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7 High-Powered Selling Tactics To Increase Your Sales

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Here are 7 high-powered selling tactics many businesses overlook or ignore. How many do you use?<BR> <BR>1. CREATE HIGHER PRICED OFFERS<BR> <BR>Increase your average size sale by combining 2 or more related products or services into a Special Combination Package. Price this combination package lower then the total cost of buying each item separately -- and promote it as a Special Offer.<BR> <BR>TIP: Don't complicate your package offer by including an option to buy any items separately. Limiting customers to a simple "yes" or "no" decision generates more sales than confusing them with a "yes", "no" or "which one" decision.<BR> <BR>2. TONE DOWN YOUR CLAIMS<BR> <BR>Avoid making any claim about your product or service that sounds exaggerated ...even if it is true. When your claim sounds too good to be true, your prospective customers will assume it's not true -- and they won't buy. Reduce any bold claims to a more believable level.<BR> <BR>TIP: Express numerical claims as odd numbers with fractions or decimals. For example, "Our clients save 17.7 percent" sounds more believable than "Our clients save 20 percent" ...even if 20 percent is the accurate number.<BR> <BR>3. TRIVIALIZE YOUR PRICE<BR> <BR>Demonstrate a low cost for your product or service by breaking down the price to its lowest time increment. For example, "$349 per year" frightens many customers away. But presenting it as "Enjoy all of this for less than 96 cents a day" attracts them to the low cost.<BR> <BR>4. REVEAL WHO YOU ARE<BR> <BR>Prospective customers are more likely to buy a product or service from a business when they can reach the person responsible for operating the business.<BR> <BR>Make it easy for prospects and customers to reach you. Publicize your real name and personal contact information. Include your name, address and phone number on everything you use to promote business ...including your web pages and email messages. Few prospects will actually contact you. But more will buy because they know they CAN contact you if they have a problem.<BR> <BR>5. PROVIDE FAST ANSWERS<BR> <BR>Answer inquiries and questions from prospective customers quickly ...while their level of interest is high.<BR> <BR>If you find yourself personally answering a lot of questions, post the answers to your most frequently asked questions on a Questions and Answers page at your web site.<BR> <BR>A Q&A page enables your customers to get fast answers to their questions while reducing the number of questions you have to answer individually. But it deprives you of an opportunity to impress your prospects with the personal attention that usually leads to an immediate sale.<BR> <BR>6. WELCOME COMPLAINTS FROM UNHAPPY CUSTOMERS<BR> <BR>Don't avoid complaining customers. Give them priority attention. Unhappy customers or clients who complain help you grow your business.<BR> <BR>Complaining customers are giving you an opportunity to resolve their problem and keep them as a customer. They're also alerting you to a problem you need to correct before it causes you to lose business from other prospects and customers.<BR> <BR>7. MAKE TESTING A HABIT<BR> <BR>Continually measure and compare the results of your advertising and promotional efforts. Continual testing enables you to make adjustments to improve your total performance. It pays off in higher profits and reduced financial risk.<BR> <BR>Many successful businesses use an 80/20 formula for testing. They invest 80 percent of their advertising budget in proven promotions and 20 percent in testing new variations. This formula generates a constant stream of profitable business from proven promotions while it forces the business to continually test and find ways to produce better results.<BR> <BR>These 7 simple selling tactics are easy to use and highly effective. They will quickly increase your sales volume and profit -- without increasing your expenses.<BR>

 



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5 Selling Tips — To Increase Your Sales

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Here are 5 selling tips to help you increase your sales. All 5 work for any business. They're effective for both online and traditional offline marketing. And they won't cost you anything to implement.

1. PROMOTE ONE THING AT A TIME

Promote only 1 product or service at a time. It limits your prospect's buying decision to either "yes" or "no". Every "yes" answer produces an immediate sale.

Avoid promotions requiring prospects to make more choices after making the decision to buy. Some won't be able to make a clear choice. They'll avoid the risk of making a wrong choice by making NO choice -- and you lose the sale you already had.

You can develop separate promotions for each product or service you sell. Or you can combine several products and services into one package for one price. But always make your prospective customer's buying decision a simple "yes" or "no". It produces the maximum number of sales.

2. LEAD WITH YOUR BIGGEST BENEFIT

What's the biggest benefit you offer to customers? That benefit is your strongest selling appeal. Use it to attract prospects to your promotional message.

State your biggest benefit in the headline of your ads. Put it in the first sentence of your sales letters. Include it in a title at the top of your webpage. Use it as the opening of your audio or audio-video promotions. Leading immediately with your biggest benefit captures your prospect's attention and provides a compelling reason to continue reading or listening to your message.

3. PERSONALIZE YOUR APPROACH

More people will buy from you when they feel you are talking directly to them about their individual needs. Develop customized versions of your sales message to cater to the specific interests of prospects in each market you target. Use the language and style of prospects in each market to communicate your message to them.

It's easy to use different versions of your sales message when you control who gets it. But how can you personalize your web site to appeal to prospects in one market without losing your appeal to other prospects visiting your site?

One way is to create special web pages for prospects in each market you target. Customize the content of each to appeal to prospects in that group. Then add a link to each of these special pages on your home page.

4. PROVIDE SPECIFICS

Marketers often describe their product or service with words like, "It's fast, easy and inexpensive". But a specific description of how fast, how easy and how inexpensive will generate more sales.

For example, a general statement like, "Our clients get more sales", is dull. It won't produce sales. Replace it with a specific statement like, "Most of our new clients enjoy at least a 17 percent sales increase in the first month". This statement creates excitement. It motivates prospects to sign up now so they can start enjoying that 17 percent increase in THEIR sales.

5. DRAMATIZE FEELINGS

Customers usually buy on impulse, not logic. They base their buying decision on how they feel about your product or service. Get them excited about using your product or service and you'll increase your sales.

Revise your ads, sales letters and web pages to dramatize the emotional rewards your customer will experience when using your product or service. Use vivid word pictures to help them imagine themselves already enjoying those benefits. For example, a financial planner could describe what it feels like to enjoy an affluent lifestyle without debt.

Each of these 5 selling tips will help you increase your sales. They produce immediate results. And they won't cost you anything to implement.


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China Source: Terms for Shipping and Payment

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Once you choose the company for China source outsourcing, the next step is to finalize the terms and conditions of the business. The terms and conditions specify how the business will be executed later. Some of the main issues to take care of while setting these terms, are explained below:

Terms for Payment: If you choose a direct purchase for the China source, you are asked to submit a Letter of Credit for payment purposes. Letters of Credit are documents that are prepared with the help of a bank that offers some kind of security to both the parties involved in the business. Fund transfer mostly takes place when the product you want to outsource is ready for shipment and once all the shipping documents are submitted to the bank. The only disadvantage is that it is a very lengthy and complicated process and it can bind your money for a long time. On the other hand, China source outsourcing through third parties offer a comparatively better deal, as it provides support for negotiating the terms and conditions. The third party and the Import/Export Company of China share a good relationship with each other, and that is the main reason for providing best deals. For purpose of making payments of the purchases, the third parties are trusted a lot by the China source companies. The terms and conditions in this case may have some clause for a part of payment, before shipping of the product and the balance payment of goods are checked for quality.

Terms of Shipment: At the end it is only the eventual buyer who has to pay for everything from shipping, insurance to brokerage and duty; the only difference being the person who lay out that money at different stages. Before setting the shipping terms make sure they are adequate and cost saving for both the parties. Duty Payment: Being one of the ‘most favored nations,’ the duty in China source outsourcing is from 3 to 7 per cent product’s custom class. However, duty payment can be delayed by blocking the goods under Foreign Trade Zone, thus saving the duty amount significantly.

The terms and conditions are very vital for the proper execution of any business. Similar is the case with China source outsourcing business. The terms for payments and shipments involve all the modes of payments and shipping of the good that are followed by the business. The China source outsourcing can be done either with the native companies or through the third party involvement in the deal. In both the ways you have to pay for the products you are purchasing. So, it is better to have a contract containing these terms agreed by both the parties. Beside the payment terms, the contract must also include the shipment terms as finally it is the end customer who pays all the costs, including the miscellaneous costs. You also need to check out for the duty payments mode, so that you can reduce the duty payment cost in one way or the other.


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Means of Identifying and Selecting China Suppliers

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In recent years, China has emerged as a big supplier of all types of commodities. If you are one among the people who prefer to import from China, then you have a big choice of selection from China suppliers. Now, almost all big suppliers resort to China for the import of goods. Compared to other business processes, the process of import from China also involves a number of steps, which have to be followed for fruitful results. If you are knowledgeable enough and aware about various benefits of doing business with Chinese suppliers, like the imports knowledge and good proficiency, then definitely you will get access to a broader range of products at very competitive prices.

Identifying suppliers:

If you are a new buyer, you are required to know about some terms related to China suppliers. One of the important terms includes identifying the suppliers. Once you get accustomed with the various modes of identifying suppliers then it won’t be a difficult task to indulge into business transactions with China suppliers. You can refer to online trade magazines. Some famous online publishing resources provide reliable business information; you can make use of them. From online resources you can even gain information about assorted products, manufactured by different manufacturers. You can avail information about popular Chinese suppliers on online business websites. They offer both finished goods as well as unfinished goods. When you are using online directories, do follow the step by step guidelines to get accurate information about Chinese suppliers. It will also prove their authenticity. Another mode of identifying suppliers is trade show. In trade shows you get an opportunity to get through all the products and their merits as well as drawbacks.

Selecting Suppliers:

When you are selecting suppliers from China, then you should consider many aspects. You can catch the attention of overseas manufacturers and suppliers only if you are running your business on a large scale and through proper channels. After selecting the suppliers, you just explain your product requirement and ask for samples. While reviewing their samples, read all the instructions properly. You should also collect all relevant information of your product sample. Sometimes it is also good to get some idea about similar products manufactured by large scale domestic suppliers. Be confirmed about manufacturing dates and lead times of product.

All these factors that are explained above assists you to get a business offer from China suppliers. With the proper knowledge you can explore new areas of business with China suppliers.

Summary:

Chinese suppliers are fast becoming the foremost choice of businessmen in the whole world. You can avail information from various resources regarding the ways to identify China suppliers, like online trade magazines and news. Online trade magazines are equipped with the latest published information about different manufacturers and suppliers of China.

Both finished and unfinished goods are imported by China suppliers. Finished goods include products like patio furniture, handbags, motorcycles and MP3 players, while unfinished goods include car speakers or capacitors. While resorting to online directories, it is better to go by the guidelines given online so that you can avail the genuine and consistent information about China suppliers. Trade shows also offer you the access to products manufactured by different China suppliers. As soon as you start selecting the suppliers, you should notice certain important points. Since the terms and conditions relating Chinese suppliers may be totally different form your domestic suppliers. Large scale business may attract them easily.


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Trade in China

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These days China is a global source for the commodities and is focusing on the international trade day by day. There is tough competition in the market but still China is standing its ground and striving its best. It has proved itself in several kinds of businesses and electronic goods manufacturing industry is on its peak. China is a leading supplier of the electronic toys all over the globe. In-spite of China staying into the international trade for quite a long time, it has stood the examination of time and has survived in-spite of neck-to-neck competition in the market.

It got best processes to work with and day-by-day has improved upon the same too. Several manufacturing companies are coming up everyday and global sourcing is been practiced now. This has boosted the average income of the individual and has improved upon the economic status of the nation too. Though China has the problem of highest population in the world but still it is trying its best to boost up the nation’s economy to give a better living to its people.

More and more companies have been practicing global sourcing for quite some time now, however, there has been seen an immense intensification in the number of organizations. These institutional bodies and organizations are concentrating on better global supply base, which provides better foundation to the booming industry sector. Several countries are focusing for China to be their global outsource plant as the manpower and other goods are cheap and easily available. It is the nation getting utmost consideration and attention these days and is principally supplying immense goods in the international trade.

The increase in the number of exports in China has increased in the international trade and it can compensate the losses, which the country had been bearing all these years due to immense imports it had in the past years. It has been a chief exporter to several countries in Asia and in the international trade too. It is gathering benefits from all of its partner nations too and trying to take its economy to greater heights.

Its global boundaries are increasing every day and there is a shift in its global scenario too. Its trade has improved and is greatly diversified and versatile. It is getting more professional and is adapting to a portfolio approach with the use of multiple global sourcing mechanism. There are generally few different kinds of framework like classification, structured model, which are these days been adapted by the industries to improve their production and are varied source of outsourcing mechanism for international trade. Because of all these China is a perfect source of International trade.

In the field of IT industry due to cost reduction for the development and communication there are several countries sourcing themselves from different markets which helps them to reduce the production costs of the products and pay lesser wages too. This is again beneficial for China and will be a win-win situation for both of the nations.



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China Sourcing-An Opportunity

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China being a prime location and a variety of products are imported from this destination. China Sourcing has become a debatable topic these days. But there are certain doubts on the quality of goods manufactured in china, especially in the supply of drugs and food products. Top class quality and safety are an important focus in international trade. Quality issues cannot be taken lightly in view of China Sourcing in the B2B market. Hence, it has become necessary to view China Sourcing in the wake of the quality problems that are happening in the B2B market. But the fact lies that minor problems are an inevitable part of a large trade market.

Manufacturers sourcing from China are in for an increase in China export tariffs or a reduced rebate rate. For the western counterparts, prices will increase and there could be as small as 2% or a great increase of more than 10%. Distributors and wholesalers are wary of these facts and are cautious enough to avoid risk factors.

But, Global sourcing from China clearly presents an opportunity for companies in the manufacturing sector with minimum possible risks. From a struggling economy China has emerged a winner in international trade in a short span of 15 years. Without following the stringent rules and regulations in maintaining the normal safety standards, it would not have been possible for such a dynamic growth.

Chinese duty free commodities like shelled groundnuts, executive hand drawn paintings and drawings, original engravings and lithographs, original sculptures and other materials are a boon to the international trade.

The 2008 Beijing Olympic Games has been a blessing for the international trade as well as China sourcing. Many grand economic decisions especially related to long-term international trade will be decided and act beneficial to the country. The product categories that include technology oriented, less polluting, or less resource intensive are not currently affected by the VAT. The material increases are being felt globally. Some countries can avail the use of raw materials at much lower prices whereas it is quoted at higher rate in some other country. What one supplier pays in one country differs vastly than what another supplier in a different country pays for that same material.

The risks still remain with the medium sized manufacturers, while global sourcing from China or any other country clearly is an opportunity for companies in the manufacturing sector, these opportunities also brings major risks. Thus the benefits and risks of global sourcing go hand in hand triggering the international trade.



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5 Tips for Attracting New Customers Now

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1. Give Away an Electronic Information ProductThe product could be a simple report posted on your Web site or auto responder to a downloadable e-book. The information product should relate to your target audience. Just place your advertisement somewhere on the product. Allow other people to give away the information product to attract even more customers.

2. Offer Free Consulting Via E-mailAllow potential customers to ask you specific questions relating to the subject of your business. Giving away free advice can show your prospects your expertise and give you instant credibility. Another benefit is when you e-mail them back the free advice or information include your signature file to get free advertising.

3. Hold a Free Chat Room SeminarPeople go to seminars to learn about a particular subject. With chat rooms you don't need to fear public speaking or spend money to rent out a seminar room. You can use your own chat room or hold the seminar in someone else’s. Holding a chat room seminar is an incredible way to get free publicity. Just send a press release to the media announcing your free seminar.

4. Start a Free-To-Join ClubHaving people join your club is a creative way to attract new customers. People want to belong to something, why not your online club. The club should be related to your product or service. You could give away a free e-mail newsletter for club members only. Have a member’s only message board, e-mail discussion group or chat room. Post your advertisements on all the club information.

5. Provide Your Product or Service For Almost FreeTell potential customers you'll accept barter deals for your products or services. You may not be getting money but they will become your customers. If they are satisfied they might pay money the next time they make a purchase. Barter for things to improve your business or your own personal life. 

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Customer service is your product!

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You must understand the product that you are selling to be successful at selling it, no matter what it is. If I were to ask you right now what goods or services your business sells, how would you answer? You would think that there would be millions of possible ways to answer that question, depending on the exact nature of your company. And you would be wrong.Without regard to the item you are marketing, there is exactly one acceptable response. The answer is that this merchandise will do whatever the client wants done! Customer service is your product! Do not be fooled into thinking that customers come to you just to buy a particular item. To think this is to fail to understand the necessity of building a relationship. The reason that they came to you is because they have a problem or a need and you may be able to supply something to help them. Customers often feel that they know what they want and may not be aware that you have a better solution for them. If your attitude is that your aim is just to sell them something you will never know if you have sold the right thing. If a customer comes to you with a need, you can only satisfy that need if you try and find out what brought them to you. To do this you must treat your customers as people and not just potential profit. This means that you have to talk to them to establish what their need is and only then can you suggest the right solution for them. Selling a product need not entail an intrusion into the life or a probing of the personal history of a customer. Instead, the primary goal of the seller should be to understand something about the mindset which motivated the customer to seek him or her out. Such an understanding may lead to the sale of a higher ticket item or a sense of empathy could produce a bargain for the buyer. It may also lead to the customer exiting the store with a sense of trust yet empty handed. Regardless of the immediate result, the seller will take a great step towards the creation of a long-term relationship with a customer which is built on a solid foundation of trust. What you need to take away from this section is the important realization that what you're selling is not just simply "things", but fulfilling the specific needs of your clientele. In the end, your customers aren't necessarily most interested in the features of your products, but in how you can solve their problems, and how you can satisfy their specific needs.

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Best Promotional Products for Your Best Clients

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With regular business transactions there are some clients that become regular ones and for the business that they provide they become all the more important. There are some clients that are a little more important than others for the business that they offer and for the relationship that you share with them. So whenever you choose to gift these best clients it is important that you select the best promotional products.Different people will have different criteria of defining the best gift. For some the best gift could be something that is useful, for some to could be something that is extravagant, for others it could be something that conveys heart felt thoughts. When it comes to gifting your best clients you should go in for something that qualifies on all the above mentioned grounds, after all you want to gift your clients nothing but the very best. The idea of gifting itself leaves most of us confused, and when it comes to choosing the best gift complications increase all the more. Moreover when you are flooded with options taking the big decision becomes all the more difficult. And you can’t afford to gift your best clients something that is very ordinary. The most important thing that needs to be kept in mind before you zero in on any promotional products that the product must offer utility to the clients. There is no point giving your clients something they are not going to use and simply dump in one dark corner. Usefulness is one big priority but one thing that makes the key to the best gift is that it must be in sync with the taste and requirements of your clients. If you cater to a clientele that is more on the sophisticated side zero in on a promotional product that is elegant and classy. For such clients if you choose something that is very ordinary you are not gifting your best clients the very best.

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Tootoo is a Powerful Tool for Company’s E-business

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We initially learned about tootoo during the first year of our operation. At that point a membership in tootoo was just another tool for our promotion strategy. As the years have passed, tootoo has become a core part of our business. It has proved itself the most efficient and valuable tool in our business and also established itself as a major help in our everyday business activities. We receive hundreds of inquiries on a weekly basis and a significant part of our deals have been completed through tootoo, accounting for more than 30% of our total exports. We now have customers in many places around the globe simply because we use tootoo services. It is also a valuable source for commercial news providing information and trends in the global market. With tootoo we have gained customers and made friends. It has enabled us to learn more about our customers and build solid business relationships. we keep us online more than 18 hours per day allowing the efficient and effective communication of all interested parties. Finally, we would like to thank tootoo and its people for the exceptional services and immeasurable cooperation.

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Four Steps to Business Success

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In this short article you may learn to fashion tools by which you may build for yourself and insure that your work-at-home business is the success you always dreamed of.If you wish to change the conditions of your home based business you first must make a small change in yourself. The self-made millionaires for the last hundred years have proven that making small changes in their thinking habits made a world of difference in their ability to accumulate wealth and money. Their bank accounts verify this is a true statement! This is the secret to their success. Your ambitions for wealth and success may have been thwarted at every step, because your inner thoughts (including worry and fears) will find expression just as certainly as an acorn falls from the old oak tree.Suppose you're tired of working hard with little money in return and you desire to change that condition.How can you encourage even more success and start making money in your small business or home based business?The answer may be a simple change in ...how you expect the universe (life, people, customers) to respond to your inner thoughts. All this happens below the surface of conscious thought.If you'd like the full story on using the subconscious mind to achieve riches there is an e-book: "Triple Your Home Based Income... By Using Two Secret Words." It works for big business, small business, and just as well as for the work-at-home based business. This wealth and success manual helps you figure out why "working hard" doesn't always bring in the desired wealth.Have you seen the 175-page prosperity study course published in 1912 (that sold for $1500 in those days) and it has made hundreds of multi-multi millionaires? It is still worth its price although you can sometimes find it for free.Life Responds To Your Inner FeelingsWhat if you were expecting the very best growth for the seeds (investments) you planted for your business? It is similar to planting seeds for the summer garden. You have faith that 90% of the seeds will germinate and grow. The plants will look like the pictures on the package. All the seeds need to grow is fertilized soil, water and sun light. With a little weeding the law of growth is alive and well. Your garden will flourish!

Four Steps To Business Success

All you need for the growth and success of your small business (home based or outside the home) is to hold in mind the condition desired: affirm it as AN ALREADY EXISTING FACT. You are planting the seeds of greatness for your project. Hold the picture in mind of what it will look like when completed. Feel the success in every bone of your body.

Repeat the success steps (constantly):

1. Hold in your mind the condition desired 2. Affirm it as already existing 3. Hold the picture of what it will look like when completed 4. Feel the feeling of success in every bone of your body

Your outer reality is the outer picturing of your thoughts, beliefs, opinions, judgments, and habits of thinking ...plus the powerful subconscious mind making it all happen - good or bad. In other words - inner thoughts are the building blocks of your outer reality (physical world). Think about pulling in the mind pictures of a successful small business.

Monitor your thoughts and expectations for even greater success in your home based business while seeing (picturing) thousands of dollars pouring into your pockets and bank account. Have fun on your journey into outrageous success. You can do it!

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