Sales channels to reach your customers
Selling through retailers, wholesalers and other distributors
Selling through an intermediary may be a more cost-effective way of reaching your end-customers than selling to them directly.
If you are targeting business customers who prefer to deal with large suppliers, selling directly to them may not be a realistic option. Instead, you might aim to supply wholesalers who have existing relationships with those businesses.
If individual consumers buy low value quantities of your products, the best option might be to target retailers that sell similar products. Or you might choose to focus your efforts on a relatively small number of wholesalers who can in turn supply your products to many retailers.
Other distribution channels may also reach your end-customers. For example, technology suppliers often sell to resellers who can configure and install the technology to suit end-users’ particular needs.
Managing your distributors
You need distributors who will value your product. If they sell competing products, what will make them push yours?
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Think about how you set your prices. Distributors will be more enthusiastic if they can make a large profit – but setting too low a price will eat into your own margins.
Effective advertising and promotions can be vital. As well as marketing to the distributor, you can promote your products directly to end-customers. Distributors will be keener to stock and sell products that their customers are asking for.
The key terms of the supply relationship should be covered in a written contract. Key issues might include:
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how much stock the distributor will hold
what the distributor will do to promote your products
how quickly you can resupply and minimum order levels
whether the distributor has exclusive rights to your product (for example, in a particular territory)
what happens if either you or the distributor want to end the relationship
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Recession Proof Business
In this business climate everybody wants a recession proof business. It has been my experience that there are people making money in every economic climate. These are the people who adapt to changes around them to come up with profitable business ideas for the times.
Four Business Principles of a Recession Proof Business
If you want a recession proof business make sure you take into account the four business principles below. These principles take into account the demographics of a society, the psychology of people who are faced with less spendable income and still have a need to feel good about themselves; they take into account what kinds of products and services to offer in our economic climate; they also show you can multiply the effectiveness of your working hours.
The importance of a huge and expanding marketfocusing on products or services in a sector that is both huge and expanding.
The importance of having a unique and consumable product or servicehow these concepts are defined and why each of these factors are crucial.
Timing the trendsthe importance of getting in front of large trends and how to evaluate which industries are expanding or about to expand. You will also get some ideas of what will be the next big trends. As you are watching this point, remember that in a recessionary economy with so many people unemployed, a very large trend is to train people and help them to earn income.
The different money earning situations and why time leverage is so important to getting more done. Watch for ways to create win-win situations and how these situations can lead to the best use of your time leveraging efforts. Watch also for the explanation of the time/productivity connection and how wealth is created by some peoples ability to see the difference between doing everything themselves and training and empowering others to be able to do things.