Blog – Page 4 – Korsell Corporate Consult

TACKLING THE CHALLENGES OF SOLE PROPRIETORSHIP BUSINESS IN GHANA.

September 8, 2020 (updated September 8, 2020) Published by Korsell

There are so many challenges that sole proprietors come across in the course of their business. A one man business comes with a lot of advantages but it also has disadvantages. Many people tend to engage in this kind of business since they get to make their own decisions and they can also terminate it whenever they want. If being your own boss sounds like a dream then one must be aware of the harsh realities of operating as a sole proprietor.
Here are some ways of tackling the challenges of sole proprietorship business in Ghana;
DISCIPLINE: If you struggle to stay focused, you may find it hard to remain self-employed. After all if you don’t work, you don’t get paid. On the other side of the coin you might burn out from overworking. Some people work well in a self-directed role, while others need external help to manage their activities. If you’re in the latter category there are some tricks you can employ to create a framework to become more disciplined. Optimize your time: Having a set time for different tasks can help you stay focused on discrete activities. Block out your day based on when you’re at your best for each task. For example, if you struggle to be productive in the morning, perhaps you should read and answer emails then, and work on tasks that need more focus in the afternoon when you’re able to concentrate. If you are more regimented, then develop a routine. If not, don’t be afraid to set time limits for tasks. Work-related time limits curb the amount of time you spend on a project, forcing you to become more efficient at completing it; recreational limits (e.g. social media browsing) allow you to have mental breaks that empower rather than derail your work. Be accountable: While having clients means you’re largely accountable to them, they shouldn’t be micromanaging every task. If you’re a bit soft on yourself, employ external accountability measures. This could be a list of tasks you need to complete each day or week, or a friend, family member or fellow sole trader who will check in with you regularly to ensure you’re on target with whatever you’re working on.
FINANCIAL ACCOUNTABILITY: It can be daunting to realize that your income relies solely on your ability to attract and retain paying clients. Many sole traders find the pressure too much and return to regular employment, but those who can wear multiple hats – proprietor of your core business, plus accountant, plus salesperson, plus marketer – reap the most rewards from self-employment. Sluggish cash flow remains one of the biggest pain points for small businesses, and it’s a key reason many sole traders fail. One of the most easily fixed issues is pursuing overdue remittance; a surprising number of small businesses hold debts for their clients. An accounting system like QuickBooks Self-Employed can notify you of outstanding invoices and help you devise a cash flow budget that projects future income and expenses, as well as the optimum timing of these payments. Sole traders also incur a higher per capita cost to do business. While larger organizations can leverage economies of scale, sole traders don’t have that kind of muscle. You can try to negotiate with suppliers to reduce costs. If it’s for capital, non-inventory purchases, you can look for a co-op or consortium to see if you can manufacture economies of scale. There are buying groups for micro-business you can join, or you can simply create one using your network.
CLIENT MANAGEMENT: Clients can be challenging in many ways – too demanding, too vague, too many, too few – but the best way to sum up what you need from them is ‘workflow’. Good workflow is the ability to find and maintain clients in a manner that gives you sufficient work without overwhelming your schedule or abilities. That means keeping project overruns to a minimum and ensuring you have more work lined up for when you reach the end of a job, all while maintaining a little breathing space to ensure you don’t burn out. Client management also entails sound negotiation skills, not just for your fee but to defend your time and headspace. Know your value proposition and listen to what your clients want. Keeping the lines of communication open will benefit your ability to attract clients as well as strengthen your workflow.
There are many ways self-employed workers can meet the challenges of running their own enterprise by combining discipline, good client management and sound financial oversight.

The purpose of business consultants and the need for every business to have a business consultant.

September 4, 2020 (updated September 4, 2020) Published by Korsell

The primary goal of any consultant is to help a company become more efficient and profitable. Consultants usually provide the steps needed to achieve a company objective, leading to a company project. Business consultants provide management consulting to help organizations improve their performance and efficiency. Consultants analyze businesses and create a solution while also helping companies meet their goals.
Using their unique knowledge and skill set, business consultants will identify problems and help initiate change. Business consultants also provide constructive criticism, train and teach employees and even do some unpleasant tasks like eliminating staff who do not contribute to your business. If an existing company is also facing problems in their business, a business consultant can help make the necessary modifications to revive your company.

Every business needs a business consultant;
Businesses in all industries can benefit from working alongside a business consultant. Many new companies understand the importance of hiring a consultant right from the start. Consultants can help new businesses set up their accounting, develop business processes and hire talented staff. Established businesses can also gain many advantages from hiring a consultant, especially when trying to grow their business or expanding into other industries. When problems occur that affect a company’s finances or reputation, a business consultant can help find a solution before it is too late.

Contact Korsell Corporate Consult for your consultancy services to help you grow your business

Why do startups need business consultants?

September 3, 2020 (updated September 3, 2020) Published by Korsell

A startup is a new established business founded by one or more entrepreneurs to develop a new product or service and bring it to the market. By its nature, the typical startup tends to be a shoestring operation, with initial funding from founders or their friends and families. Startups need outside experts who can do the work, as well as provide training on what needs to be done. These outside experts are the business consultants.
A startup is a business which has been established recently, works in much higher uncertainty and with limited resources and hence startups hire consultants to help them with the early steps of an enterprise. Business consultants can bring in tremendous benefits for startups when hired for the right reasons.

Unbiased Feedback: Most startups work with the existing talent, experience; knowledge, and expertise of the business ignore the changes happening outside. This is why receiving honest and unbiased feedback can be immensely beneficial to startups and here is where a startup consultant’s role becomes imperative. Startup consultants can provide a much-needed external outlook to the practices and core model of the startup. The startup will get feedback not only about the concept behind your business but about the details of execution, organization and other critical matters.
Management Advice: Right from initial idea and vision through the next phases and steps of the startup business, the blueprint of your business is just excelling sheets, word documents and PowerPoint presentations on your consultant’s computer. The expertise and advice of startup consultants can be applied to many different areas of your business, and they offer many different consulting services. Most people running startups are relatively young, who have MBA’s out of top B-schools and have decided to follow their own passion, rather than working for someone else. The people in charge of running these businesses can thus be expected to be lacking the requisite managerial experience or knowledge to steer the venture in the correct director, because of obvious handicaps, like young age and little or no experience. A startup consultant can provide management advice based on their experience in management, finance, strategy, marketing, and development, to a young relatively inexperienced CEO who is just learning to steer his business through the business executive word. The client is given insight and gains clarity through working with an experienced professional who has been through the process multiple times.
Creating a Road Map: Strategic planning is one of the key services provided by startup consultants. Startup consultants help clients through analysis, statistics, and strategy. Strategizing is the key for any business, but it’s especially crucial for startups. Clients partner with experienced consultants to plan critical steps for their startup business. Most startups don’t have a concrete roadmap or even objectives to begin things, hence this remains one of the major hurdles for a startup starting out. A startup consultant will put in place a strategic plan and create a roadmap for your business.
Expertise: A startup consultant brings in the requisite knowledge and expertise for a business which may be beyond the current expertise of the existing skill of the business. A startup consultant is considered an expert in his field of specialization and has plenty of training, and knowledge about the latest tactics and techniques for moving a business forward. Business growth comprises a number of tasks and processes generally aiming at developing and implementing growth opportunities within and between organizations, and only a professional startup consultant can help you with that.
Market Research: Your startup consultant will meticulously research the market and the segment in which you plan to grow your business in. Market research is considered one of the significant tools of strategic business decisions. Market Research information includes but is not limited to data on your customers’ needs, your competitors’ abilities and trends within the industry. Professional startup consultants are known for their continuous analysis of the market trends and dynamics which means that they are alert to changes and developments in different market sectors and they will advise you of any suitable chances that they come across. Being in contact with the right business consultants will in the long run help your business grow and become what you want it to be. Contact KCC for consultancy.We offer training to new and existing business owners to enhance productivity.

These are the top 5 reasons why a startup needs a business consultant:

BUSINESS OPPORTUNITIES TO CONSIDER.

September 2, 2020 (updated September 2, 2020) Published by Korsell

Ghana is one of the countries with the fastest growing economy in Africa. Now you may want to know the potentials and fundamentals of doing business in Ghana. With a strong mineral resources sector, cocoa industry, consistent government policy, recent oil discoveries, friendly business environment and a free trade zone for foreign companies; Ghana is definitely a country to beat in the future.

But despite the rapid growth and reformation that the country is enjoying, the country is still falling short in many aspects. And this has opened the door of opportunities to entrepreneurs who are smart enough to identify these loopholes and deal with them. If you are an entrepreneur planning to start a business in Ghana, below are the 10 lucrative business opportunities you should explore:

Waste management

Although there are a number of waste management companies in Ghana as of present, the country is still battling with more burden of filth than these companies can handle. To worsen matters, many Ghanaians are still in the habit of throwing refuse into drainages. You can make cool money in Ghana if you start a waste management business that offers to help people handle their wastes and refuse.

Herbal medicine

Ghanaians are now realizing the fact that not only orthodox medicine is effective in combating various ailments. There is increasing demand for herbal medications, and this has made herbal medicine more popular in Ghana. The good news is that almost all the medicinal plants that are used to handle various ailments can be found in Ghana.

So, Ghana is a fertile ground for flagging off a business that sells herbal medicine. If you go into this business, you will most likely get quick returns because herbal medicine is cheaper than orthodox medicine.

and farming

Food is one of the basic needs of man and anyone that ventures into food production is sure of a never ending demand. The steady growth of Ghana’s population due to influx of investors, students, tourist, etc will only help explode the demand for food.

Ghana has soils that can support a vast variety of food crops. And yet, the agricultural sector is one of the most underutilized in the country. The Ghanaian government hasn’t done enough to explore the sector, which comprises only a few private companies. One can liken the agricultural industry in Ghana to a gold mine, as there’s always a high demand for agricultural produce.

Oil and gas

Following the discovery of oil in Ghana, the country is set to join the list of petroleum exporting countries. This oil sector, still very young in Ghana, is presently begging to be explored extensively. And there’s almost no limit to the profit that players in this sector can make. Though starting an oil and gas business could be very expensive, you can venture into it if you have what it takes.

ICT

Internet access in Ghana is still very scarce and the few internet facilities available are far below average. Ghanaians are presently craving high quality internet services in their homes and offices. And they have no problems paying for such — provided the quality is kept consistent. So, the ICT sector in Ghana is still underexplored, and you can make huge profits by launching a business that provides quality internet services.

Food production

Because Ghana is home to many agricultural food products, it offers the much-needed raw materials for food processing companies. And due to the fact that food is always in high demand, starting a food processing business in Ghana is a smart and lucrative move. Better yet, you can start on a smaller scale by launching a small business or restaurant that sells foods and snacks. This business is one of the easiest to start, and it’s very profitable, too.

Transport services

Aside food, transport from one place to another is another necessity. And the reality in Ghana agrees with this. So, if you are planning to start a business in Ghana, but you are yet to find a promising opportunity, the transport sector is an option. You can start a business that renders transport services, either on a small scale with few vehicles that ply short routes or on a large scale with many large vehicles that ply long routes.

Real estate

Though an expensive sector to break into, the real estate business in Ghana is, as is the case in most countries, very lucrative. Following the discovery of oil in the Western part of Ghana, the nucleus of development and industrialization is gradually shifting towards the region. So, you will probably make more money as a real estate investor if you focus on the oil-rich region.

Microfinance

There are many business opportunities in Ghana, and more people are getting to realize this with each passing day. This has led many business-minded Ghanaians (and foreigners, too) into various small businesses.

However, many small businesses are yet to launch and many existing ones are yet to expand — both due to lack of funds. Therefore, there is high demand for microfinance services. If you have a background in banking, especially microfinance banking, you’ll make money and at the same time help develop many small businesses.

Tourism

This is another big industry in Ghana. Every year, the country plays host to many foreigners who come to behold the various tourist attractions in the country. The tourism industry in Ghana is another sector you can start a business in if you want huge gains in the long term. One glad fact about this business opportunity is that even foreigners can launch it easily.

At Korsell Corporate Consult we provide business consultancy. Contact us for your business ideas,business training and fund raising.

A BUSINESS PLAN FOR EVERY STARTUP

September 1, 2020 (updated September 1, 2020) Published by Korsell

A business plan is vital to the success of every business. About 70% of business companies, failure is the reality, and the main cause is a lack of planning. Whether it is insufficient market research, financial planning, management, lack of social media presence, website or something else, these mistakes all boil down to a lack of planning that can be traced back to the roots of your company.

Before we detail how to write a business plan, let us find out what a business plan is . A business plan in any company is a document with every crucial details. It includes the following information: what you are going to sell or produce, the structure of your business, your vision on how to sell the product, how much funding you need, information on financial projections, competitors and others.

Your business plan should include the following elements:

Executive summary — A high-level overview of your company and market placement.
- Business model — Outline what your business does, who your business serves, and how your business is structured. You should include a description of what products and services you offer, and how they meet the needs of your customers.
- Market condition — A summary of pertinent competitor information. Determine the strengths and weaknesses of your closest competitors.
- Products and services — Use this section to describe your products and services in detail, and outline what differentiates your product from others in the market.
- Operations and management — Outline your business’ organization structure, key roles, and responsibilities.
- Marketing and sales strategy — This section should describe how you will market and sell your product. Include information on your ideal customer, how you plan to position your offering, and your sales strategy.
Financial plan — Create a detailed outline of your business financials. Include your start-up costs, your initial financial productions, and how you anticipate generating funding.
Appendix — Once the above pieces are complete, end the document with an appendix summarizing your business plan.

Contact Korsell Corporate Consult for your detailed business plan to start your business ,expand it or present to investors for funding . We also provide consultancy and training to enable you grow your business.

PRINCIPLES TO DRIVE CUSTOMER DECISIONS

September 13, 2019 (updated September 13, 2019) Published by kccadmin

Today’s customers are overloaded and overwhelmed by too much information, so making a decision is a challenge. You may think this is only important to your marketing and sales people, but in reality it doesn’t matter how great your product or technology might be, you won’t succeed if you don’t understand your target customer decision process. Every aspect of your business must be about sales. Here are truths about selling, and the customer decision process, which every business needs to address in their product, business model, and their whole customer experience.

Success requires continuous learning and improvement; No matter how certain you are that your solution perfectly matches customer needs, you will be wrong. Success requires a willingness to take responsibility for shortcomings, better understand customer needs, and the ability to quickly learn and adapt. This is the growth equation for a startup.

Emotions drive customer decision-making; your ability as a business to uncover and capitalize on customers emotional motivators will dictate your success.. The lowest price is not always the real customer motivator.

Every growth business must have a repeatable process; Just like good sales people have a repeatable process they follow, every startup has to overcome the chaos of a new business, put structure in place, document their processes, and focus on scaling up the engine. Everyone on the team must adopt the same culture and recipe for success.

Business brand trust begins with customer empathy; Empathy is about being fully engaged with your customers, through interactive social media, and taking the time to listen to real customers face-to-face. You have to demonstrate common ground and shared values with your customers over the entire customer experience.

Integrity matters in all aspects of a business; a business has to demonstrate integrity, reliability, and competency, just like a good sales team member. Integrity means doing what you say you’re going to do as a business, being responsive to changing needs, and making the right kind of promises to your target customer segment.

Grow by helping customers rather than pushing a message; if you ask customers how you can help, you will uncover what matters most. This is more effective in directing their thinking and actions than selling technology. Well-crafted questions pull in customers. Good questions create change. Great questions can change the world.

Emotional commitment precedes economic commitment; don’t try to create a sense of urgency by appealing to greed. Your business and your team need to understand and demonstrate how your product connects precisely to what motivates your customer. These days, that includes a memorable total experience and testimonials from friends.

Removing customer resistance takes persistence; all customers are prone to raising objections, because change is hard, there are many competitors, and decisions take time to make. As a new business trying to grow, you need to be able to isolate the toughest customer objections, and adapt your solution or business model to eliminate them.

Looking for wrongs never makes you right; every entrepreneur struggling with business growth has the urge to blame it on a lack of funding, an economic downturn, or unfair competitor. Instead, look for what has worked, and what you haven’t yet tried with your customers, to get it right. Focus on the real purpose that customer’s seek. Businesses that think and act as a whole like their best sales people will build what their customers want and need, making everyone’s job a lot easier, and the customers a lot happier.

At Korsell Corporate Consult Limited, we help you with your business planning, strategy document and other custom services. Speak to us now 055 391 9618 or Email: in**@*********************lt.com

SUCCESSFUL WAYS TO GROW AS AN ENTREPRENEUR

September 11, 2019 (updated September 11, 2019) Published by kccadmin

Successful entrepreneurs know the importance of lifelong learning. Whether you are new to the business world or a seasoned veteran, you should always be looking for new information about entrepreneurship and trends in your particular industry. If you are looking to learn and grow your business, here are some insights that will be of help to you;

Identify your challenge areas; knowing your strengths is easy. Facing and fixing your weaknesses can sometimes create inaction in all of us. In order to grow, it is important to make this change. Pinpoint and build up the areas that are challenging you. Explore various sources for help including mentors, online resources and workshops.

Revisit your priorities regularly; when you are new to the game, it can seem as if there are a hundred things you should be doing to improve your business, all of them equally urgent. Strengthen your brand, market your business, take training courses, attend networking events, seek out cross-promotional opportunities, the list is endless, and trying to cover it all is a common trap. Take a step back and revisit your business plan to clarify your goals. Then consider your available resources, both financial and time-based, to see what you actually have room for. Commit to one or two things that you think take priority, and shelve the rest. The focus and clarity will do more to help you grow as an entrepreneur than trying to juggle all the balls at once.

Know when to hire and when to outsource; when you are in bootstrapping mode, you are usually doing it all by yourself. Product development, marketing, finance, you name it, chances are you are it. But as your business grows, that approach becomes untenable and you will be faced with a decision; you can hire staff to handle those functions, or outsource to freelancers.

Learn from the mistakes of others; learning from your own mistakes should be an automatic response. Learn from mistakes that other people made. In today’s age where information is readily available at the click of a mouse, there is no reason why you should not learn from other’s mistakes. It’s all documented on blogs, books, lectures, courses, videos and forums. Walking through the minefield of life will be a lot easier when you have a map with the mines you should avoid. Not to say you won’t trip, but you will be far more aware.

Build your personal brand as well as your company brand; many entrepreneurs make the mistake of focusing on building their company brand to the exclusion of building their personal brand. However, your personal brand will differentiate you from your competitors, give you authority and credibility in your field, and stick with you in the event your company ultimately experiences failure. Every part of your brand can send a message to potential customers. From your web design to your voice, it’s important to be intentional when creating all of these aspects of your brand.

Being a successful entrepreneur is not going to be an easy achievement. The earlier you get comfortable with the harsh truths of entrepreneurship, the sooner you will be on the path to business success.

At Korsell Corporate Consult Limited, we help you with your business planning, strategy document and other custom services. Speak to us now 055 391 9618 or Email: in**@*********************lt.com

FINANCING SOURCES FOR YOUR STARTUPS

September 4, 2019 (updated September 4, 2019) Published by kccadmin

As thrilling as it is to start a new small business, the stress can be just as insane. Especially, if have to start looking for sources of finance for your startup. Because beyond the creative thinking and careful planning that go into coming up with a winning business model, you as the business owner are likely also facing the arduous task of finding the money to make it all come to fruition. It is also essential to remember that careful planning is key when you wish to raise finances. You need to: know exactly how much money is required, consider the setup costs, the investment needed, working capital, and growth and development and evaluate how long you need these investments for and what security you can offer. Here are different sources of funding to consider when starting your business;

Personal Investment; self-funding from your savings is always preferred. You have to make some personal investments, which could include your savings or other assets. You cannot start a business without putting something of your own into it. In addition, others will hesitate to give you money if you don’t contribute. By not investing yourself, you will demonstrate your lack of commitment or even confidence in the venture.

Angel Investors; this category refers to retired company executives or wealthy individuals who make direct investments in startups and small firms. These investors are typically leaders in their respective fields. They contribute by means of their network of contacts and experience and also provide their technical and management knowledge. However, you should know that in exchange for their investments, angel investors might monitor your startup management practices and might want a say in your business.

Venture Capital; this funding source is ideal for specific startups that have a high growth potential. The venture capitalists basically invest in your startup in exchange for equity, so you have to share ownership with an external party. Venture capitalists also expect a high return on investment once the business is properly established. Always look for venture capitalists that have a background in your business’s industry and can bring relevant knowledge and experience.

Business Loans; business loans are the most common source of funding, not only for startups but also for small and medium-sized businesses. Banks and other financial institutions offer many types of business loans in return for regular interest payments. They will need you to have a solid business plan in place. Your plan should show potential and have numbers to back it up. Having a good idea is not enough; you need to have evidence to support it. In some cases, banks might ask you for something as collateral, but every situation is different. If you don’t offer collateral, they might charge you a higher rate of interest but this will help you in avoiding bad credit too.

Crowdfunding; as the name indicates, crowdfunding refers to getting funds from a crowd, i.e., the general public. Entrepreneurs typically use this option when developing a product that’s essential to people and not available elsewhere. There are crowdfunding websites that enable members of the public to pool their funds to help various causes. Startups can use any of these sources of finance to launch their operations and offer quality products and services to people

Grants and Subsidies; bringing innovations to light is not always easy. As a result, some government agencies provide support to budding businesses. Access to this funding allows you to cover different expenses, such as marketing, research and development, equipment, salaries, and improvement in productivity. Technically, governments give grants to startups unconditionally and you don’t have to repay them. But you cannot use the grant money for any other purpose, or you will be vulnerable to legal action. Once a government source has provided you with funding and you fulfill the terms of the program, that agency might offer you additional funding in the future.

Now that you’ve seen a wide variety of options available for financing your small business startup, it’s critical that you carefully consider the pros and cons of each option before committing.

Speak to us at Korsell Corporate Consult Limited, let us assist you with your business planning Call: 055 391 9618 or Email: in**@*********************lt.com

STEPS FOR BUSINESS OWNERS TO MANAGE THEIR DEBT

September 3, 2019 (updated September 3, 2019) Published by kccadmin

Sometimes as a business owner, your company accumulates debt. And managing business debt can be difficult. Try to take some business debt management steps before you are forced to close your doors for good. If you truly want to climb out of your ravine of debt, then here are ten steps you can take to manage your debt;

Assess and Rework Your Budget; before tackling business debt, you need to have a solid understanding of your current financial situation. Assess how your business budget is operating. Is it covering all the bases, or operating in excess? A good business budget helps to identify income sources; fixed daily, monthly, and annual costs; and accounts for all variable expenses such as rent, or other unforeseen costs. Assessing and reworking your budget should be the first step in forming an action plan for reaching your debt-elimination goals.

Reduce Expenses; once you take stock of your budget, take a look at your operating costs. Do you have any excess expenditure you can do without? Decide which services and operations are absolutely necessary for the daily operation of your business, and cut the rest. Use your financial statements to help pinpoint expenses contributing to your debt. Cutting costs is a sure-fire way to increase cash flow and reduce surmounting debt load.

Prioritize payments; you cannot manage your business debt overnight. You need to decide which debts to tackle first. Make paying off loans with the highest interest rates a priority. The higher the interest rate, the more you end up paying, and the longer it takes to pay the loan. Also, put paying debts with a personal guarantee at the top of your to-do list. With these terms, creditors can take your personal assets if your business cannot pay.

Increase your earnings; as you pay liabilities, continue to grow your business. Boosting cash flow can help with long-term goals beyond business debt management. Use collection strategies for a more predictable projected cash flow. Even if you are struggling to pay debts, promote your business to increase earnings. Use marketing methods that offer value to your brand without breaking the bank. Another way to earn extra income is to lease space or equipment. Depending on your location, you may need a special leasing permit.

Do not borrow more; this step may seem super obvious but you will be surprised at the number of people who borrow more debt to pay off existing debt. Do not become part of this group. You will be shooting yourself in the foot twice. Consolidating loans are not the best answer.

Speak to us at Korsell Corporate Consult; let us assist you with your business planning and other custom service. Call now 055 391 9618 or Email: in**@*********************lt.com

EFFECTIVE SALES TACTICS FOR BUSINESSES

September 2, 2019 (updated September 2, 2019) Published by kccadmin

To run a business effectively and efficiently requires a lot of upfront effort. Efficiency demands processes, protocol, and forethought in every aspect of your business. This endeavor trolls through strategy, operations, marketing, your finances, and especially sales. Here are some effective sales strategies and tips to help your business;

Know Your Business; Not just your company, but the industry. Keep abreast of new technology, services and products related to what you are selling. Let your customers know you are knowledgeable in all aspects of the industry and they can come to you if they have any questions.

Build a Relationship; Get to know your customers. Pay attention to their interests and hobbies. Keep a file on each customer to remind you of the little things before you call them. It is a friendly way to show them you care, and may produce a few extra deals.

Listen to your customers; Ask questions and let the client do the talking. Give them your undivided attention and find out what is most important to them. Once you get an idea of what they’re looking for in a product or service, you can adjust your sales pitch accordingly.

Customer Relations Management System; Customer history records are important to all facets of your business. Records can be stored manually in the office, but to be more productive, consider a customer relation management system can be accessed by your employees, as well as clients. Organize your customers starting with the initial contact point. Buying trends can be monitored by watching dates and quantities of each order. Praises, complaints and customer service issues can also be entered and resolved by approved staff members.

Take advantage of content marketing; Tools such as paper ads, commercial TV ads, press releases, banner ads, etc. are no longer as powerful. It is purely for self-promotional purposes and everyone knows that. People neither like or trust these ads anymore. This is a subtle yet a more powerful way to get your prospect’s attention. The low cost of the process and the ease with which you can start a campaign makes this the most powerful weapon for businesses.

Always Control the Next Step and Offer Something of Value; that means you’re never “waiting” on a prospect to get back to you. You’re prepared to reach out to them with something of value so that they never feel like you’re annoying them. Never contact a prospect to ask for an update, ask to hop on a call, or something similar. Always contact a prospect with something of value, like a custom analysis of their business; a great, relevant article on their industry that may help them; or more detailed feedback on something you know they’d be interested in, like a quick example of what a competitor might be doing. If you always send something of value to your prospects, they’ll always open up their email because they know you are furthering their career with your value.

At Korsell Corporate Consult Limited, we help you with your business planning, strategy document and other custom services. Speak to us now 055 391 9618 or Email: in**@*********************lt.com

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