Top 5 Tips for Explaining Your Business

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When you are a small business, it can be difficult to make people pay attention to your products even if you are selling something familiar. The job is made even harder when you are selling cutting edge technology and having to explain terms like “cloud computing” just so that people understand the things you do. This weeks tips column shares our Top 5 Tips for letting people know that your business exists and (more importantly) to help them get their head around what your products or services do:

1. In order for people to pay any attention at all to a concept that they might not fully understand, you have to be careful not to turn them off straight away with pricing. It is understandable that you might want to set a premium price because new products or services generally cost money to develop, but this will probably only ensure your product has a niche appeal. Not every small business can copy Apple successfully!

2. Compare and contrast your product with any existing competition or, if you are first to market, with any of the inevitable competitors that spring up. If your product or service presents a new way of doing things this can be a hook to get people interested.

3. Early adopters will be taking a risk on your product or service to a certain extent and for this reason they are going to need a lot more information than usual customers before they purchase. You will also need to make sure you provide exceptional product support to these people – especially if your product is a work in progress – as you don’t want people spreading negative things about it.

4. Make sure that you have enough capital to keep you going during the initial period when you are trying to explain your product to the masses. If things start getting tight, you might need to try and secure funding or investment to keep things afloat.

5. Ultimately, for some products and services, the only thing that will help people to understand is the passage of time. Some technologies just take awhile to catch on and it might be that you came to market slightly too early.

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