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The Key to Building a Business is Mastering the Basics

Last week, I talked a bit about the importance of having a clear understanding of what your product, service or opportunity’s value proposition is against your competition. A reader wrote to tell me that when he was presenting his opportunity to a prospect last week, he was asked to compare and contrast his opportunity against a direct competitor.  He had a clear understanding of his opportunity’s value proposition and responded by comparing the compensation to reps, the product line differentiation, and his opportunities unique niche in Internet marketing in comparison to his competitor and his presentation was successful. If you understand your value proposition it will help you in making a stellar presentation and your business will grow!

Now, lets spend some time on the basics today. If your goal iskey to grow your business, so that you can enjoy the better things in life, not stress about finances, have more time for the people that matter and live the life that you desire, then you need to master the basics to building a business.  It is the key to your growth.

Target your Audience:  Who are your prospects?  How will you find them? You need to have a plan as to whom you want to partner with in your business.  Yes, I did say partner, every single person you interact with in your business is a partner, so choose him or her very carefully.  Where are your prospects? What functions do they attend?  Find them and then qualify the heck out of them to be sure that they will be motivated producing business partners! Your business will grow only as fast as you move, so be very astute in qualifying your prospects. Wasting time with a prospect that does not meet your standards will not help you. Remember, do not confuse activity with achievement.

Presentations: It is not enough to go out and do presentations. Your business will not grow based on the number of presentations you give. You need results, so you need to not only do presentations; you need to master how to do presentations well so that you get results. Your presentation must be compelling in order for your prospect to take action.

Follow up:  Yes, post presentation you need to follow up and yes, this needs to be done effectively and consistently. This can be done through a face-to-face meeting, a phone call or an email and it needs to be done quickly after a presentation. An effective follow up plan will help you close the sale, further qualify a prospect and can lead you to referrals. It is critical to follow up consistently and quickly post presentation. 

If you are motivated to build a business, so that you can live the life of your dreams, do the above consistently and you will succeed.

On a personal note – no I have not seen the bear! Heard him at 5:30 a few mornings ago, but too dark to see.

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