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SME's Want To Sell More? Answer These Questions

Fundamentally, small businesses must create a sense of connection to their customers and instill a sense of urgency in them. One way larger businesses create urgency is by lowering prices. “With a situation like Black Friday, where you’re using price to create urgency, that’s the most costly way of doing it,” Stevenson says.

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The biggest problem small businesses have is selling, says Howard Stevenson, a serial entrepreneur, professor emeritus of entrepreneurship at Harvard Business School, and the author or editor of 11 books on entrepreneurship. “A lot of people are afraid of selling. I’ve tried to convince schools that selling is important, but try to find a course on sales management in a major university. It’s a hole in everybody’s practical education,” Stevenson says. In his new book, Getting to Giving, Stevenson poses four questions that he thinks entrepreneurs should use to inform their sales strategy and improve it.

1. Why is your product or service important to your customers? It sounds simplistic, but too many small business people never determine why a potential client approaches them, Stevenson says. If they don’t fundamentally understand the customer’s needs, they can’t be effective in fulfilling them. And don’t be surprised if even the customer doesn’t know what they truly are, he says.

“This is where you stop talking and start listening,” Stevenson says. “Someone who goes to a money manager may want to get a multiple of capital; others want intergenerational transfer of wealth. One customer at a stationery store wants commodity copier paper and another wants colored tissue. If you’re trying to sell cars, does the customer want to do long-distance travel or get parking in Cambridge?”

Once the customer understands what she needs, the small business owner can show her how his product fills that need. “And if it doesn’t, don’t waste their time,” Stevenson says.

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http://www.businessweek.com/small-business/to-sell-more-answer-these-questions-12022011.html

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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