What It Takes To Succeed In Business
In the not to distant past businesses were able to succeed simply with salespeople having a knowledgeable understanding of their products, some good old personal charm (people skills) and ambition.
But in today’s terrorized world, complex global economy, and intensely competitive business environment, salespeople from the small mom and pop to large corporate giants in every market face unprecedented challenges.
We heard several years back that technology, along with the Internet, set up an even playing field for all businesses. Many thought that technological innovation would be their magic potion for success in business. It is true that many have had an unequal advantage in business and life because of technology. But, remember the Dot.Com bubble that burst?
Communications, science, art, medicine, automation, supply chain and products have all been reinvented and have brought about a more intense competitive advantage for many. And with that comes more unearthing challenges.
With an economy that is rebounding — growth is slowing in many markets and industries. Customers are growing more fragmented in their purchases and less loyal, less trusting and focused on getting the best price with higher service expectations.
Products and service are quickly cloned and it is increasingly difficult to create genuine product differentiation.
Product life cycles are shorter and profit margins are getting very skinny due to a multitude of issues facing business. Security and safety is one.
Now, you may be thinking — Hmmmmm where is the bright side for the balance of 2005. The great news is that the ever increasing innovation in technological change is impacting all businesses. It brings Salespeople and businesses new strategies, tools and opportunities to succeed.
However your competition receives the same advantages opening their door of opportunity and unfortunately slamming the door shut for others. The key factor is for you to stay on the cutting edge of technology outpacing your completion.
Another factor and differentiation advantage for success in business will be what you sell – but, more importantly will be HOW you sell. With an over abundance of products and services and a global market crowded with suppliers, vendors, affiliates, MLM’ers, — business is scrambling to find ways to provide more value and real value to the consumer has moved beyond product features and benefits.
The secret for edging out the competition will be in your ability to be a source of credible information and master complex issues that will solve customer’s problems producing long-term strategic customer relationships. The bad news is that this takes a new MINDSET on your part and understanding the physiological mindset of how your customer thinks. However, as the challenges increase — the potential for success will expand, only, for those who master these complex issues.