Defining Success In Small Business
Contractors. Photo by USACE. Not all businesses are meant to grow exponentially ending up in an IPO or something even larger. Some businesses; in fact most of them today, are meant to be lifestyle businesses. These are small businesses that help the owner pay their monthly bills but are not meant to sap the living energy out of their souls as they work relentlessly to grow it into an international corporation. Given this reality, how do you define success? I know a watch maker in my neighborhood – given the rise of smartphones and smart watches, his business is dwindling. But the old man doesn’t stop and keeps making them…
How to Make Your Product Sell Itself by Understanding Customer Psyche
How often have we heard this phrase from marketing gurus that we need to build and package a product in such a way that it sells itself? Is this actually possible? According to various psychological and marketing case studies prepared by researchers from Vanderbilt University, Wharton and others, there are a number of emotional and psychological factors at play when the consumer is out checking your product out. By making use of the right strategies, you can in fact make your product sell itself. Here are some tips on how to do this. 1. Make Your Product Premium If you are not in a business that has been commoditized, then…
