Here are a few tips I have to share with you that I did NOT learn in Business school:
1. Look at your competition and learn from them. What are their strengths and weaknesses? Look at like companies in other states and countries and observe. You will always learn something that you can implement.
2. Sell your products or services many different ways. Never hold inventory always think of ways to sell it and always make a profit. Examples: online, storefront, wholesale, craft shows, home parties, corporate sales, incentives, joint marketing with another company as added value, and on consignment.
3. For a service business; always exceed your customers’ expectations. To retain customers make it easy for them to do business with you.
4. Company image is essential: Uniforms whenever possible for a professional image, name tags, proper greetings and attention paid to customers. Know your customers names and nurture customer relationships to ensure that they continue to do business with you.
5. Always educate your customers. Offer information about your products and services and know the competition. Most customers compare products and services before they purchase anything. With product knowledge and a higher perceived value the sale will always be made easily.