Best & Free Resources For Small Businesses

Best Free Resources For Small Businesses

Customer demand, value creation, transactions, value delivery and profitability, are the five main pillars of a successful business. Other equally important factors are market research and marketing.

Research

Market research involves surveys that help the business know about what people are interested in.
This helps you in planning how to make them aware of the product, attract attention and make the buyer interested in buying it.
Customer interest is an absolute necessity for the success of a product.
This means a business must create value for its product in the market through right ways of marketing.
In order to close a sale, a customer must trust your product and you must deliver what you have promised.
Customer satisfaction is also an important part of the business, and depends on reliability and exceeding customer’s satisfaction by good customer service.

Pricing Uncertainty Principle

One of the most fascinating parts of sale is the pricing uncertainty principal.
Pricing is always an executive decision.
All prices are arbitrary and valuable.
If you want to try to sell a piece of cloth for $200 million you can’t.
If you want to drupe that price or reduce it to 10 cents an hour later there is absolutely nothing stopping you.
Any price can be set to any level any time without limitation.
As long as you are able to support your asking price before a customer, it is good.
Auctions is an example of pricing uncertainty principal.
By setting a low starting price and allowing potential buyers to bid against one another, auctions are typically an inefficient way to establish a true market price for something that is difficult to reproduce and where no compatible items are in the market.
That’s why rare items, if they are sold they are typically sold in an auction.

Balanced Pricing

In general, people prefer to pay as little as possible to acquire things they want, with some noticeable exceptions.
If you expect people to pay you perfectly good money to buy what you are offering, you must be able to provide a reason why the offer price is worth paying.
It is difficult to support a price of $200 million for a piece of cloth, unless that cloth is made of diamond.
Prices change constantly rising in proportion to how many people are interested and how much each is willing to spend.

The Universal Currencies

Every negotiation consists of three universal currencies- resource, time and flexibility. All are equally good and none of them can be treated better than the other.

Resources

Resources are tangible items.
They are physical in nature and can be held and touched.
Trading involves exchange of resources.
Items like money, gold etc. are resources.
I you want to buy a house, you will pay money to the seller and buy it.
If somebody wants to buy a car from you and with your permission he wants to pay a gold bar instead of cash, that is also called trading because it involves exchange of resources.

Time

Another important currency in the world is time.
Resources can also be traded with time.
For example, you have a helper in your garage and you pay him on hourly bases and in return he works for you and expects some amount of money in exchange of his services in that given time.

Flexibility

This is another form of lesser rated universal currency.
This currency can be negotiated to the higher or lower degree of flexibility.
For example, a teacher does not get paid only for teaching. There are various other factors that require flexibility to get paid for your effort.
In this case, making examination papers, attending student development meetings, arranging funds for annual day celebrations etc. are the flexible resources.
This is a very real opportunity cost which means while you are working as a teacher you are flexible to do other works as well.
Now it is up to you to how flexible you want to make it. Like you can work for less time or give less efforts in exchange of resources.

Most small companies don’t need to hire as many workers as their larger counterparts, which means they usually don’t have an in-house recruiting team. But in this age of technology, they can take advantage of many of the same tools, techniques and resources that larger organizations use to attract customers, clients and candidates that are highly sought-after. Contact HyperEffects to chart out a tailor-made tool for your sales and marketing process to be more swift, organised and easy.