Why It Is Important To Build Effective Business Referral Network ?

  A steady stream of customer referrals can transform any struggling business into a profitable one. Building a strong referral network in business is one of the most effective strategies that any size of business should have.  Researches show that most of the SMEs get their biggest boosts from customer referrals, not Facebook, Linkedin or other social media sites. People influence people.  A trusted referral influences people more than the best broadcast message.  A trusted referral is the Holy Grail of advertising.                                                               Mark Zuckerberg,    Founder and CEO, Facebook    Getting a business through cold calls is tough.  It is always easier when someone recommends your product/services to someone else.  The word-of-mouth marketing is most basic yet quite effective form of marketing.  It brings in new, comparatively loyal clientele for a company.   Fearless Referrals, by Matt Anderson, cites a study by Sandler Sales Institute regarding how different types of prospecting activities turned into business  : 5 %  from cold calls 15 % when you use a colleague’s name […]

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Why Teamwork is important in Business ?

Teamwork — Combined efforts of a group for a common cause, where every member trust each other enough, to surrender the ‘me’ for the ‘WE’ and the result is just amazing…!!     Mumbai   Dabbawalas                          Together Everyone Achieves More  .  They are a group of people who are part of a delivery system that collects lunch boxes from the residences of workers in the late morning, delivers the lunches to the workplace and returns the empty boxes to the worker’s residence the same day by late afternoon.  Every person in this team acts as a picker, sorter, transporter and deliver of tiffin boxes. There is nothing called my work or your work. It is all our work. It’s an epitome of Teamwork. Defining Teamwork – It is an activity wherein different people or different groups come together to work towards a common goal/set of goals. In today’s knowledge-based economy, which is so diverse, most of our jobs involve interacting with others that are not even in the same line of profession. The need for effective teamwork is critical for any business for its success. Teamwork divides the task […]

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The Best Sales Pitch Is NO SALES PITCH

At Meudyojak networking meetings I see some people just handing over their business cards and speak about their business. They should also listen to other entrepreneurs .     In a networking event, if you go with the intention just to talk, talk and talk about your product/service, and make the sale, then it’s not networking..  But if you go in to have a two-way conversation and build a trusted relationship with the prospects, you will have paved a path towards success. The point of sales pitch at a networking event is to give prospects enough information that they need to know more.  This is the beginning of building a relationship.  So if you get this right, you really can start the conversation which will lead to opportunities. Here are some tips for an effective sales pitch : 1] Do Your Home-work  –  Know who you are pitching to. If you are not researching your customer, you are reducing your chances of  making the deal.  82% of sales people are not aligned with the needs of their buyer.  Study their business and its need, prior to executing the pitch. You may start by pursuing their website or Linkedin profile. 2]Give your best first […]

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