Generating New Business Opportunities

You need to have goals that you are committed to follow,understand your product well and focus on your core product.Make sure you utilize all marketing features.

Entrepreneurs often live with the hope that if they build it, customers will come. But in today’s economy, it takes a lot more than hope to get people to purchase your products or services: New business-building practices are a must if you want to expand.

Another necessary element is a clear-cut plan for growth. But many entrepreneurs get obsessed with creating the perfect plan. Or they never get around to putting one together. Crafting a plan is necessary, quick and effective. And we can show you how to do it. The following seven steps should take you no more than four hours to complete-a small price to pay for a tremendous upside. The result? A road map that will infuse new energy, enthusiasm and vision into your company’s growth plans. So let’s get started.

Step 1: Focus on your core product. A very successful e-newsletter entrepreneur has built his business around this mantra: “Prospects buy when they trust your value is applicable to them and believe your company is stable.” This strong position allows him to constantly check up on the services and value he’s providing his customers. Keep this statement in mind as we go through the rest of the seven steps, because internalizing this mantra is the key to a solid plan.

It’s common in small, service businesses that the entrepreneur feels he or she must do everything the “big guys” do to compete. The truth is, small-business owners can really never compete in the same way. So it’s essential for small businesses to differentiate themselves by focusing on the unique capabilities and core products they bring to prospects. Specialization is the entrepreneur’s greatest asset.

Step 2: Keep your pitch simple. The last time you asked someone at a party what their company does, did you get a clear, concise response? Or did your eyes glaze over by the time they got to the end of their explanation? My guess is, it was probably the latter. Now imagine that same pitch being presented to prospects who don’t have a glass of wine in their hands to distract them! It’s not a pretty picture.

What every company needs is a simple “elevator pitch.” That’s a short, concise message that can communicate your message to a prospect in 30 seconds or less. It explains the value your product or service provides so the prospect understands why it’s applicable to them.

Try this little exercise to test your pitch clarity quotient. Ask someone who doesn’t know what you do to listen to your pitch. Explain what your company does, and watch for signs of fatigue-eyes watering, lids getting heavy, and so on. Of course, you may have the perfect pitch. But if you don’t, you’ll recognize it right away from verbal and physical responses.

Step 3: Stay true to who you are. Knowing who you are and what gets you excited (and bores you to tears) will help you reach your goals. Nothing can derail a growth plan more than discomfort and procrastination-it’s simply human nature to procrastinate over things that cause discomfort. And there are dozens of daily business requirements that every business owner detests. If you’re finding yourself putting things off, it’s time to start delegating

Stay true to who you are and what you do best: Hand off those tasks that will blow you off course because you don’t like doing them, so you don’t! Stretch and grow your capabilities in alignment with your interests and expertise. If accounting is your nemesis, hire a bookkeeper. If your personal organization is out of control, hire a temp to set up a new filing system. Always make sure that you’re focused on your priority “A” tasks and delegate your Bs and Cs.

Step 4: Map it. Mapping your capabilities with your target clients’ needs is an excellent way for you to determine your service strategy. You’ll find that while you may be perfectly skilled in many areas, you’re going after customers who don’t need your particular expertise.

One common trait among many entrepreneurs is the urge to “cast a wide net” by being all things to all companies. In almost every case, however, a small business flourishes because it has a narrower service offering. Remember, a small company’s value is that it can specialize in unique, top-quality services.

Develop a list of decision-making criteria that you expect your clients to use when choosing a provider in your industry. Then rank yourself (and be brutally honest) in terms of where you’d be positioned in each category. After this intense evaluation, make sure that your elevator pitch is still on target.

Sourced from: https://www.entrepreneur.com/article/65210

 

For new opportunities find customers who are not satisfied by the current market.Create a product that suits their taste and preference.This will help you make a successful entry into the market.

Five tips for finding business opportunities

From Opinno we help you to easily and rapidly find the best business opportunities for your business and disruptive ideas.

When we believe the time has come to create our own business and take the first steps, this isn’t the only challenge we face. The most important thing is, without doubt, to find the niche market that adapts to our business or idea.

Any entrepreneur has to be able to identify new business opportunities. Sounds easy but how do you do it? How can we find new business ideas? Here are five tips that could be useful to get you started.

  • First of all, the most important thing is to find out who our audience is. We have to find clients that are not satisfied with the current market. On the other hand, you could also find an audience that considers that what the market is currently offering doesn’t fit their needs and are looking for more adequate products to fit their demand.

  • In order to secure our idea, we have to be aware that there are sectors in the market that are unattended or, in some cases, poorly attended. The market is constantly changing without warning and because of this it is important to have the capacity to detect which sectors accept the appearance of new technology in order to make them more cutting edge.

  • Going back to these transformations, we also have to be aware of the changes that occur within our client’s needs and their tastes. These changes are very important in knowing first hand that public demand and what aspects of our idea o business should be changed to adapt to the market.

Sourced from: http://www.opinno.com/en/content/five-tips-finding-business-opportunities?language=en