Suggestions To Improve Sales When Buying A Service Business

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When buying any business, it is important to look at what has been done in the past and also ways to increase sales and improve the business.  This is especially important when the business is a service business. This article is to help you with ideas that may increase your sales.

Undisputedly, the best way to do business is through referrals or “word of mouth.”  For many service businesses, cold calls are necessary, and they can become hot prospects through a third party introduction.  Your referral base should include attorneys, accountants, bankers, entrepreneurs, and other acquaintances.  But how does a person build a strong referral base?  It is simple if you learn how to “Give to Get!” Work Smarter, not Harder!

The “Give to Get” concept implies that by giving to others, you create trust, respect, and most of all, friendship, all components of a lasting business relationship.  What do you have to “Give” to create these personal bonds?  Here is a list:

  1. Respect.  When communicating with a new acquaintance, talk in a frank and honest manner without talking down to the individual. People with an eighth-grade education or anyone with less education than you, often have extensive vocabularies and justifiably resent being dealt with in a condescending manner.  They also resent sales clichés.
  2. Information.  Contact every person on your prospect list at least twice a year with some piece of information.  Newspapers, magazines, trade publications, and newsletters are full of information and advice that is targeted to various businesses and professions.  Clip these articles and send copies to those who might benefit.  Always include a handwritten note.
  3. Accolades.  Everyone likes to be recognized, so when you see a perspective customer’s name in print, cut out the article and send it to that person.  A simple gesture like this can turn a prospect into a customer, and a customer into a friend.
  4. Personal Effort.  If your prospect list includes business owners, perhaps you can help solve a problem or mitigate a stressful situation.  You not only become a hero, but a trusted confidante as well.
  5. Personal Time.  There are hundreds of clubs and organizations in your area with philanthropic or community betterment programs—service clubs, recognized charities, chambers of commerce, PTAs, and church groups.  Join and participate.  You will soon discover that most of the members are the type of people with whom you want to do business—people who are putting something back into their community.
  6. Pro Bono.  If you have a marketable skill, perform “pro bono” work for those who cannot afford to pay your normal fee.  Many of these people have the drive and ability to become future fee-generating customers.  They also come in contact with potential fee-generating clients.  A pro bone deed seldom goes unnoticed or unrewarded.

“Give to Get” is not just some cute phrase.  It is a road map for anyone wishing to establish a solid referral base in any community.  And best of all, not only do you benefit, your community does too!  Interaction with prospective customers and people in general is vital to keep your business alive and growing.  Business owners who are active in the community tend to thrive and have successful businesses.  You are providing a service for others, and you must be noticed.  Stay active, meet people, and be successful!

  • Author: Pat Jones
  • Title: President/Owner - Business Broker
  • Company: Pat Jones Business Brokers
  • Company Website: http://www.patjones.biz/
  • Date: June 22, 2017
  • Category: Buying a Franchise or Business
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