"How To Successfully Launch A New Business Activity"
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How To Successfully Launch A New Business Activity
Copyright 2005 Bob Leduc
I often talk with business owners who tell me how excited
they are about a new product or service they are offering
...or a new business they are launching. Their comments
usually include something like, "Everybody needs this. I
know I'm going to make a lot of money with it."
They sincerely believe it will be easy to generate hordes of
paying customers for their new venture. Unfortunately, it's
not going to happen that way. Building a profitable business
is hard work ...and most of that work has to be devoted to
Finding the number of paying customers necessary to meet the
financial goals of a business can be a tough challenge. To
do it successfully, you need to follow a proven, detailed
By trial and error over many years, I developed the
following simple 5 step process that enables me to
successfully launch a new product or service almost every
time. You can copy this same proven process to successfully
launch your own new business activity.
Step 1: Identify Your Market
Determine who gains the greatest benefit from your product
or service. Concentrate on reaching them instead of trying
to reach a broadly defined general market.
Start by defining your ideal customer or client in writing.
List all of the characteristic s you would expect to find in
good customers. Be sure to include qualities that make your
product or service especially valuable to them.
Analyze this list to identify your market ...and define it
Step 2: Find Your Most Appealing Customer Benefit
Exactly what is the most compelling problem you can solve
for prospects in your targeted market? Why is your product
or service the best solution to their problem? The answers
to these 2 questions reveal the customer benefit(s) you need
to stress in your sales approach.
Step 3: Develop A Few Motivating Offers
Develop 2 or 3 offers that motivate prospects to buy
immediately. For example, can you use a special discounted
price offer with a deadline? Are there bonuses you can add
if prospects order or sign up before the deadline? Can you
combine both into a "special price plus bonus" offer?
Decide which offer on your list is the most powerful. Use it
in your sales material and/or your selling presentation.
Tip: A special offer providing obvious value automatically
boosts your sales. It's a proven way to overcome buyer
resistance and procrastination. It also provides a logical
reason in the buyer's mind to justify what may actually be
an impulsive decision to buy.
Step 4: Decide How to Publicize Your Business
How will you introduce yourself to the prospects in your
market? Will you use classified or display ads in print
publications or on the Internet? Will you use direct mail?
Is broadcast media such as radio or TV appropriate ...and
What networking can you participate in locally or on the
Internet to draw attention to your business? Are there ways
you can get some unpaid publicity? What other methods of
promotion can you use?
Prioritize each method on your list and develop an action
plan with deadlines for implementing them.
Step 5: Establish a Plan to Promote Customer Loyalty
Decide what you will do to cultivate customers so they
continue to do business with you ...and give you referrals.
For example, write or call your customers or clients
immediately after a transaction and thank them for their
business. Ask them if they're pleased with what they
received. Most will express their satisfaction. (That's an
ideal time to ask for referrals.)
Tip: Don't be afraid to uncover unhappy customers. When you
do, take whatever action you must to make them feel good.
Most dissatisfied customers won't contact you about their
problem. They just take their business elsewhere ...and tell
as many other people as they can about their negative
experience - costing you a lot of future business.
This 5 step marketing process replaces guesswork with proven
procedures that get results. Use it the next time you want
to successfully introduce a new product or a new service.
You can even use it to successfully launch a new business
...or to revive an existing business that is not growing.
Bob Leduc spent 20 years helping businesses like yours find
new customers and increase sales. He just released a New
Edition of his manual, How To Build Your Small Business Fast
With Simple Postcards ...and launched *BizTips from Bob*, a
newsletter to help small businesses grow and prosper. You'll
find his low-cost marketing methods at: _http://BobLeduc.com_
or call: 702-658-1707 After 10 AM Pacific Time/Las Vegas, NV
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