I. Products Select
1.Criteria for Product Selection
No capital deposit:
Ideally, there’s a place where you can enter wholesale prices, but you don’t need much to import each time. Minimize risk and keep cash.
This means that this source of products you want to import must always be available to ensure sales progress. Otherwise, when you finish marketing, when you have customers, you have a problem: out of stock.
Unique is easy to sell, easy to attract, the effort you make in marketing will not be as hard as the products already on the market. It can be said as a type of product “Blue Ocean”.
Nearest import locations:
When a customer places an order, you will go to pick it up and deliver it right away. Ensure cash flow and serve customers in the most timely manner.
Low entry price:
This is too obvious. The ideal is to enter 5 VND to sell 15-20 VND.
Refund if defective:
You can take this out for a customer guarantee. If there is a real error, you ask the warehouse to exchange it. Risk reduction.
Source of goods with a warranty of 6 months or longer. This way, you will feel more secure when selling to customers.
That’s great, for half a month to a month of debt, I can keep cash to turn around.
When you sell it, you will pay there, if you can’t sell it, it’s okay.
2.Share knowledge & experience:
- Based on the above criteria you combine together when searching for products. It is very rare that the product/service you find it meets all the criteria. If you achieve this criterion, you will lose the other spending.
- In addition, to achieve the above criteria is also based on the ability to communicate confidently, negotiate decisively and quickly.
- If you have skills and knowledge, then you must have Strategy and Tactics to import goods. If you think logically and methodically, the chances of success are higher.
3. Questions to answer:
- Where can you source your products? How ?
- After found. How to import goods with the criteria I have selected?
- Where can you learn from import experience? who ? when? What question?
II. Determine the source of capital & choose the selling area
- You need to determine how much you will spend on these fixed costs to determine if the location you will rent is suitable for that price or not. Because each location has a different price, if you do not determine your finances in advance, when you have chosen a place you like but it is not reasonable in price, it will be a waste of time. the time that you went looking for the place.
- Location: should choose prominent, conspicuous and accessible locations to attract customers. On most major roads, the intersection corner is the most ideal location when opening a store. In addition, you need to consider choosing an area with a spacious frontage, convenient for customers to park.
- Traffic: Is the traffic situation around the area you intend to choose crowded? Is the street easy to navigate? Is it easy for customers to turn around? Is it a 1-way, 2-way street, an intersection or a lane? It is best to choose two-way streets, crowded, convenient traffic to create the best conditions for customers to visit the shop regularly.
III. Marketing & Sales Plan
Online sales channels: Facebook, Google, Youtube, Forum, Hang Banner, Instagram, etc. These are quite effective online sales channels. Once you choose a channel, of course you will have to be knowledgeable about it. The above channels are essentially marketing tools, our job is to learn how to use them to achieve our goals.
IV. Implementation stages
1.Test products and markets:
Why is it necessary to do this?
Because we are just starting a business, the knowledge and experience is not there, so the decision-making is easy to make mistakes. Therefore, this test will reduce risk and give you a better view of the market and customer feedback.
This testing will continue until you find a profitable selling product. Later, when you are selling this product, you still need to test other products at the same time so that when this product comes down, there will be another product to replace as a spearhead.
Step 1: Take product photos, videos (if needed), make sales content, design images.
Step 2: Set up a fanpage, youtube channel, Blogger website or simple drag and drop.
This is the place for me to present products and sales content to attract customers.
Step 3: Drive traffic to the landing page (which is step 2) with marketing tools as mentioned in part 3.
For example: I want to test a product, I set up a Fanpage, design product images, make attractive sales content. Then use the Facebook tool to run ADS. Test run with a budget of 20$ – 100$ depending on the product. Then check how many comments there are > from that comment, how many orders will I extract. From sales revenue minus expenses will make a profit.
This part I will not share much here because it is Action.
From this step, when starting to sell goods, team members definitely need to sit down and assign tasks, responsibilities, rights, and powers. If it is even more beautiful, it is clear that the targets and KPIs are clear for each assigned task.
Thus, before we act, we have clearly designed the criteria for evaluation, then we will not argue with each other later. Evaluate based on results. Do not judge or criticize.
This part is not done now, it will not die immediately, but it will be the biggest potential risk in the future leading to “Internal Disintegration”. To avoid this risk we will come to the next important part.
1. Lean, high-performance sales process design
Sales management is one of the indispensable steps in the sales process at companies and businesses. This process involves iterative steps based on the sales pipeline or funnel principle. In the process of building a sales team, a manager needs to establish a sales process that works best for his team. In this process, each team member will take on a different task and job such as: Finding potential customers – Researching – Reaching customers – Persuading – Closing orders.
To scale sales, managers must ensure their salespeople deliver consistent customer experiences. Through an iteratively optimized sales process, the sales team is able to achieve the results as it is intended. The sales process will mature over time, but it’s best to map out the pipeline or sales funnel from the start.
2.Set KPIs to measure performance
Setting KPIs for employees is one of the methods to help your sales team achieve success. Through KPIs from the beginning, employees will know what they need to do, how they must try, what the final result they need to achieve is. All sales teams at small-medium or large enterprises around the world have set KPIs for each month, quarter, year, etc.
Evaluation of KPIs helps to measure the performance of sales staff as well as measure sales growth, the effectiveness of sales strategy goals. Through KPIs, managers can measure the effectiveness of customer outreach, sales budget as well as the rate of new customers, customer churn rate, closing rate, etc. of each employee. sales, thereby evaluating the overall business performance of the enterprise.