How well do you market your business when you meet someone?

By asking some 'Sneaky Questions for the Budding Entrepreneur', business coach Steve Gardner offers some tips on how to talk about your business without losing clients.

Imagine you are at a party and someone you know but haven't seen for a couple of years comes up to you and says "Hello, I haven't seen you for ages, what are you doing now?"

Well, your business brain should be screaming at you:

"Customer alert, customer alert. Opportunity, opportunity!"

If, however, you then twitter on enthusiastically about (for example): 21st century mouse trap technology, a fascinating international symposium you attended recently on rodent psychology, new extermination techniques in the home, and the need for government grants to improve the lot of the business entrepreneur (small mammal specialist), your potential customer's brain will be screaming at them:

"Idiot alert, idiot alert. Run. Hide. Avoid."

You have just lost a potential customer and the sad thing is: you didn't know it.

If, on the other hand, your answer was more along the lines of: "I run a successful business that specialises in killing mice quickly, cleanly and cheaply" the response from your potential customer is more likely to be something like "Whoa! That's a bit weird, but tell me more." And then you are (or should be) into selling mode.

It is vitally important that you are absolutely crystal clear about what it is that you do in your business. If you are not, there is a strong chance that you will either lose business or you won't gain it in the first place.

To succeed in business you've got to have a passion for what you do, BUT you need to appreciate that potential customers can get quickly bored with too much excruciating detail.

So what are some of the solutions to this?

• Develop one short, snappy sentence that gives the essence of what you do.
• If your potential customer is then interested, give them a little bit of detail.
• Then, if necessary, feed the potential customer increasing levels of detail....
• Linked closely to their needs....
• Break up your information into bite-sized chunks.
• Nail your customers' feet to the floor so they can't escape.

Sneaky questions for the budding entrepreneur No.2: 'What business market are you in?'

Parker Pens are not 'in the pens business', they are in the luxury gift business. National Express is not 'in the rail and coach business', they are in the transport business. Barclays are not 'in the banking business'. I am not in 'the coaching and training business' - I'm in the developing potential and transformation business.

So, what business market are you in? As with defining what you do in your business, it is very important that you understand clearly which market you are operating in. If you do not, there is a strong likelihood that you will waste a lot of time, money and effort targeting the wrong people and trying to sell them something they don't want.

By understanding which market you are in, you may be able to identify additional business opportunities.

At the risk of extending the mouse example beyond its useful life: if you realise that you are not in the mouse extermination business, but in the pest control business, then you might also offer means to eliminate cockroaches, woodworm and hoodies; or provide means of preventing infestations occurring in the first place.

By understanding which market you are in, you may be able to identify additional business opportunities.

Know Your:

Customers

By clearly understanding the business you are in, you will find it easier to identify exactly who your customers are: where they are located, what they do, how they think, where they go and what they actually want from you (rather than what you think they ought to have).

Competitors

By clearly understanding the business you are in, you will find it easier to identify the businesses/people with whom you are competing. And then you will be better positioned to do something about them.

Here are some solutions to consider:

• Ask yourself the question: "yes, but which business am I in?" until you are satisfied that you have the market clearly identified.
• Then ask the question again.
• Take the time to ask some customers what they want from your business.
• Listen carefully to the answers, and....
• Provide your customers with what they want.

Employment Enterprise - SME Human Resources Management Support to Association of Ghana Industries (AGI)

Association of Ghana Industries and Interims for Development Sign MOU to build Human Resources and Management Capacity

 The Association of Ghana Industries (AGI) has signed a Memorandum of Understanding with Interims for Development, the UK based pan-African Human Resources development company, to build Human Resources management excellence in Ghana. 

The Association of Ghana Industries (AGI) was set up in 1958 and is the leading business organisation in Ghana with over 500 members from both the private and public sectors. It serves as a mouthpiece for the manufacturing and services sector and carries out proactive support services with a view to contributing substantially to the growth and development of industry in Ghana.

A major challenge facing today’s private sector in Ghana is effectively developing and managing its human resources.  Under the terms of the agreement, the two organisations will co-operate in carrying out a series of activities to highlight and address the challenges faced in developing and implementing good Human Resources practices in the country. 

Interims for Development will assist the AGI through organising a series of training activities to focus on the key issues relating to the perception and actuality of Human Resources management and to help develop the competences of managers and Human Resources and Training professionals.  The company will also provide advisory services and support in this area for the both members and non-members of the Association. 

Mr. Kofi Kludjeson, President of the AGI, (pictured second from left above) welcomed the MOU as a significant step towards supporting the country’s human resources development agenda.

“The Association is strongly focused on working with its members to radically improve efficiency, particularly among the small and medium sized enterprises in the country.  SMEs make up around 80% of businesses in Ghana and, unfortunately, poor management and people practices are hindering the ability of such companies to develop and create further employment.”

Frances Williams, Chief Executive of Interims for Development, emphasised that the MOU lays the foundations of a partnership that will offer solutions appropriate to Ghana. “Ghana’s future competitiveness depends greatly on the ability of senior managers and HR professionals to unlock people’s potential.  The roles of business managers and Human Resources professionals have to be seen as a strategic partnership aligned to achieving business success.  We are looking forward to working with the AGI in its mission to boost the development of SMEs through sound and appropriate people management and development approaches.”