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Understanding your customers' state of mind is only the first step in the process of closing a sale. Fear, uncertainty and doubt can be increased or decreased, using a few simple techniques.
When cash flow turned positive and profits started coming in, the co-founder of an Internet start-up sought his advisory board's approval for new expenses. What he got was a barrage of questions: "Where are next year's projections? What's your mission statement?" As the business grew, the board made sure it stayed on track financially, raising prices as well as morale. And when the company was acquired, everybody cashed in.
To sell more and sell faster, study the bell curve of prospective customers to find out which ones are most likely to be early adopters. If your product improves their performance, they'll influence others to buy.
Entrepreneurial success awaits companies that are not just better but different. If you keep your promises and sell more than just product, you'll be irresistible.
Educating your employees about the consequences of violating company policy may prevent sexual harassment problems. Here's how to ensure compliance and avoid lawsuits.
Financiers decode business plans, looking for the secrets of probable success. If yours shows a customer-driven opportunity that your company's talent, passion and skin in the game can actually pull off, they're more likely to be impressed.
Two hardworking entrepreneurs start an online publishing venture as a virtual company. They think they can communicate because they're wired. So, why are they always meeting at the local coffee shop? Profitable but inefficient, their business needs office space in order to grow beyond the launch phase--and, like parents, the founders have to get out of its way.
Entrepreneurs can create a company culture that reflects their values and motivates employees by experimenting with unusual events and activities in the workplace. Here are some ideas to jump-start your thinking.
One plus one equals millions when you combine two business models that work into a wildly popular Web site. It also helps to have high-powered investors and a built-in formula for building customer loyalty. As these business-school buddies discovered, advertisers love an affluent audience, so you can actually make money by giving it away.
Even on the Internet, says the founder of a company that provides online directories for e-businesses, most new business models are really variants or hybrids of the three basic old ones. To gain competitive advantage in the new economy, what entrepreneurs really need is a low-cost customer-acquisition strategy. And, they face increasing pressure from investors to be right the first time.
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