Thinking of Starting a Business?

StrategyiStock_000005614684XSmallRaymond Chong, one of my associates in Asia, recently asked me, What advice do you have for people that are considering going into business for themselves?

What a great question! I will hone in on two points for this blog post:

1) Many people start a business thinking that if they do whatever the business is going to do (prepare food, cut hair, fix tires, sell books, etc.) exceedingly well, they product or service will be so good – that it will sell itself. Nowhere in the world is this the universal truth that most entrepreneurs hope for and gamble on. I believe that this faulty logic accounts for a significant portion of the 90% of small business that fail in their first 5-10 years. So, basically, if you are going to open a business, you have to not only be able to provide your products or services, you have to be able to SELL them.

2) The fact that selling is one of many required entrepreneurial skills leads me to the point that selling, at least the method of selling I teach and advocate, is an international process. It crosses all borders and is basically the same, when done right, everywhere. The process I am suggesting requires the sales person to go into the world of the client. The sales person should be humble, honoring the prospect and showing him respect. By asking lots of questions and listening, the sales person can learn what the problem is that the prospect would like help resolving. If, and only if, the sales person has a good solution for the client, the sales person would then proceed to present how the product or service they are offering can help the prospect resolve their problem. Ultimately, selling is the skill of helping people solve problems with the products or services being sold.

Selling is not forcing a product or service on someone that is not interested in and/or has no need for the product or service being offered.

If you would like to comment on this blog post or ask additional questions, I invite you to visit the Blair Singer Facebook fan page and post your question or comments there.

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