CREATING OPINION LEADERS: THE BEST PRACTICE TO SELL YOUR PRODUCTS OR SERVICES

Standard

From: My Consulting Experience

Opinion Leader: - They don’t wear a uniform or belong to a union. You can’t identify them by sight. Opinion leaders are anyone who’s an active voice in a community. It’s somebody who speaks out and  gets asked for advice a lot.

So why opinion leaders are important to business..?

All the businesses are either providing a service or a product to its target customers, in that case the success or the failure of the product purely depends upon the comments of the target customers who used or experienced it.

So to make a positive and strong recommendation or reference about the product or service, the business should plan for making opinion leaders in the market because they can really influence the people around them. This is one of the best method to create an effective marketing in the target segment. This is why opinion leaders are important in business.

How can we identify the opinion leaders..?

Opinion leaders can be anyone or anything the customers ask for suggestion or recommendation. They are usually famous, knowledgeable and accepted by everyone in the target segment. Some of the example for opinion leaders are given below:-

a. Celebrities: They are common opinion leaders because they got huge fans and they tend to follow the celebrities even in the stuffs that they are using.

b. mouthshut.com: This one is kind of an online opinion leader, people are really looking at this site to get a clear review about the products in the market.

c. Magazine: There are magazines like ‘the automobile’, they got a relevancy in the mind of customers before buying a vehicle.

Likewise anything can be opinion leader in the market, the real success of the company is in identifying the real opinion leaders.

How to create opinion leaders..?

1- Tell the truth: - Always tell the truth to the the opinion leaders, or it will harm your company and the goodwill of the opinion leader. When a company believes its products, then that is the best method to create opinion leaders.

2- Do not create enemies: - Creating enemies is also like creating negative opinion leaders, they will kill your brand and you will find it difficult to enter in such target segment. So always believe in creating better relationship with everyone in and out of the organization.

3- The brand value: - Brand value is the most simple and the best thing that can make opinion leaders, for example we can say Apple, obviously the opinion leaders are high for that company because of its brand value and the trust.

4- Experience: - Opinion leaders must have experienced the quality, value and the benefits of the product or service without that there is no opinion leader. This is why celebrities are acting as opinion leader for almost all the personal care products.

“If you give values rather than cost, your product or service will find its opinion leaders…

By,
Abin c Pascal
Asst. Manager Consulting
Bramma Learning Solutions Pvt Ltd
Mob: 9496695346 / 0484-2705535
Blog: abincpascal.wordpress.com

Defining Your Business Goals

Setting goals is an integral part of choosing the business that's right for you. After all, if your business doesn't meet your personal goals, you probably won't be happy waking up each morning and trying to make the business a success. Sooner or later, you'll stop putting forth the effort needed to make the concept work. When setting goals, aim for the following qualities:

Specificity-

You have a better chance of achieving a goal if it is specific. "Raising capital" isn't a specific goal; "raising $10,000 by July 1" is.

Optimism-

Be positive when you set your goals. "Being able to pay the bills" isn't exactly an inspirational goal. "Achieving financial security" phrases your goal in a more positive manner, thus firing up your energy to attain it.

Realism-

 If you set a goal to earn $100,000 a month when you've never earned that much in a year, that goal is unrealistic. Begin with small steps, such as increasing your monthly income by 25 percent. Once your first goal is met, you can reach for larger ones.

Short and long term-

Short-term goals are attainable in a period of weeks to a year. Long-term goals can be for five, 10 or even 20 years; they should be substantially greater than short-term goals but should still be realistic.

There are several factors to consider when setting goals:

Income-

Many entrepreneurs go into business to achieve financial security. Consider how much money you want to make during your first year of operation and each year thereafter, up to five years.

Lifestyle-

This includes areas such as travel, hours of work, investment of personal assets and geographic location. Are you willing to travel extensively or to move? How many hours are you willing to work? Which assets are you willing to risk?

Type of work-

When setting goals for type of work, you need to determine whether you like working outdoors, in an office, with computers, on the phone, with lots of people, with children and so on.

Ego gratification-

Face it: Many people go into business to satisfy their egos. Owning a business can be very ego-gratifying, especially if you're in a business that's considered glamorous or exciting. You need to decide how important ego gratification is to you and what business best fills that need.

The most important rule of self-evaluation and goal-setting is honesty. Going into business with your eyes wide open about your strengths and weaknesses, your likes and dislikes and your ultimate goals lets you confront the decisions you'll face with greater confidence and a greater chance of success.

The 3 Attributes to Look for in Top Talent

One of the things that great companies do is they hire the best people. These successful companies aren’t afraid to recruit the best candidates from other organizations or pull talented people from other industries. There are three attributes that are most important to an organization when hiring: attitude, competency and mindset.

Attitude-  An employee has a passion for the organization and what it is trying to accomplish and is excited about being a part of the organization.

Competency- An employee has the right skills and capabilities to do his or her job, or has the ability to learn the right skills.

Mindset-  An employee understands the value of collaborating with peers and comes to work every day looking for ways to improve the performance of the company and increasing the impact he or she can have.

See the visual below of my ACM Model that shows the perfect intersection of those three attributes:

Here are the issues if your candidate doesn't fall into the sweet spot in the center:

1. Good attitude and strong level of competence, but the wrong mindset-

 The candidate will be focused on his or her own goals and accomplishments and will not be willing to collaborate to improve the performance of the company unless it benefits them personally.

2. Right competency and mindset, but the wrong attitude-

The talent will leave because they have no loyalty for the organization or connection to what it is trying to accomplish.

3. Preferred attitude and mindset, but a low level of competency-

You will suffer productivity loss. Even though the employee might be a great person and have great energy and passion for the organization, they don’t add any value because they don’t have, and can’t learn, the required skills.

4. The right mix of attitude, competency and mindset-

With this mix, you achieve profit maximization. This happens because every employee you hire is adding value to the organization on a consistent basis.

You’ll notice that I didn’t mention experience, and that is for good reason. When you find a great talent who is passionate about what your organization is doing, experience doesn’t matter. Great people can decipher what they need to learn in order to be successful. Twenty five years in the same industry or with the same company is not necessarily a good thing. It’s much harder to unlearn what you know then learn what you need to know.

Even if you don’t have a specific role in mind, when you find someone who has all three attributes, hire them. Find a role for them. You can create a new role if you need to because they will contribute tremendous value for your organization.

However, if any one of the three attributes is missing, employees will not last very long with your organization. You will be hiring the wrong people for the wrong reasons. Integrate the search for these three attributes into your hiring process and you will attract better people and make better hiring decisions.

If you want to know if your hiring efforts are yielding the right results, ask yourself this question, “Are we the company that people line up to work for or rush out the door to leave?”

5 Ways to Slay the Enemy of Entrepreneurs: Fear

Entrepreneurs find themselves pulled in multiple directions to put out fires, raise capital, increase their customer base and build brand awareness. It’s easy to get distracted. Fears surrounding success are common.

While entrepreneurs are often leaders who inherently crave change, uncertainty, doubt and low cash reserves can intrude. Fear is a powerful enemy. Your ability to slay this giant begins with deciding to embrace an experience. Decide that you want to achieve the goal more than you’re afraid of the obstacles.   

Winston Churchill said, "When I look back on all these worries, I remember the story of the old man who said on his deathbed that he had had a lot of trouble in his life, most of which had never happened."  

Here are five ways to help you face your fears, stay focused and win the weekly battles that nearly every entrepreneur faces:

1. Remember the “why.” 

You started your company with a passion to ignite the market with a needed solution.  After the launch parties and early wins, it's easy to lose sight of why you started. You might become engulfed by customer-service issues, productivity problems or exhaustion. Remembering the “why” helps inspire impactful decision-making and motivate those around you.  

Instead of focusing on frustration, think of inspiration. If you founded a company to offer something fast, free and fun, keep those adjectives on your daily calendar. Use visual reminders of why you forged the journey to draw strength when you need it most.

2. Embrace the race

Urgency is in the eye of the beholder. While some deadlines are absolute, others are arbitrary or self-imposed. Instead of getting weighed down by demands, focus on what you can do today to move the business forward. Typically there are three choices: move forward, stay still or go back. Filter these options against all things on your to-do list, particularly those causing fear and anxiety.  

3. Build a base of “go to" people

Find a foundation of friends and mentors who make you a better person just by being in their presence. Choose people who share your values. Meet with them one-on-one and arrive ready with a concern, question or idea that you want to discuss. Select people whom you respect who are not afraid to challenge you or hold you accountable. They will help you determine when items are critical versus mere distractions.   

Try doing something with your “go to people” outside of work, such as volunteering to help others in your community. While sitting on a board together solving a philanthropic issue, you may find solutions for your company.

Time is a limited, precious commodity. Your time spent at work will become more efficient if you can build a network of people whom you can count on for feedback, insight and encouragement. 

4. Determine your defining moments

We all have days when things go well, and then one conversation changes the course. Don’t let a bad customer-service experience or a frustrating call with a potential investor define you. Instead of lashing back, let such moments remind you of the importance of small wins. Stringing together multiple small victories gives you the confidence to keep fears at bay.  

5. Trust yourself, your team and the ability to get help and answers

 Your co-founder, spouse, boyfriend (girlfriend) and mom will tell you everything will eventually be O.K. You have to believe it. Fear, uncertainty and doubt can creep up during any conversation. Resilience and hard work are the best ways to minimize stress and keep you focused on driving growth and results. Knowing that things will get better will help slough off some of the distractions pulling you away from success.  

It all comes down to choices. You opted to pursue your dream because you believe in your idea. You also can choose to not let the everyday distractions divert you from your goals. By giving yourself reminders of why you are here, surrounding yourself with a great support team and trusting outcomes, you can and will slay those giants. 

How to Name Your Business

What's in a name? A lot, when it comes to small-business success. The right name can make your company the talk of the town. The wrong one can doom it to obscurity and failure. Ideally, your name should convey the expertise, value and uniqueness of the product or service you have developed.

Some experts believe that the best names are abstract, a blank slate upon which to create an image. Others think that names should be informative so customers know immediately what your business is. Some believe that coined names (that come from made-up words) are more memorable than names that use real words. Others think they're forgettable.

In reality, any name can be effective if it's backed by the appropriate marketing strategy. Here's what you'll need to consider in order to give your small business the most appropriate and effective name.

Enlist Expert Help to Start

Coming up with a good business name can be a complicated process. You might consider consulting an expert, especially if you're in a field in which your company name may influence the success of your business. Naming firms have elaborate systems for creating new names and they know their way around the trademark laws. They can advise you against bad name choices and explain why others are good.

The downside is cost. A professional naming firm may charge as much as $80,000 to develop a name. That generally includes other identity work and graphic design as part of the package, according to Laurel Sutton, a principal with Catchword Brand Name Development. Naming services that charge as little as $50 do exist, but spending a reasonable amount of money early for quality expert advice can save you money in the long term.

What's in a Name?

Start by deciding what you want your name to communicate. It should reinforce the key elements of your business. Your work in developing a niche and a mission statement will help you pinpoint the elements you want to emphasize in your name.

The more your name communicates to consumers about your business, the less effort you must exert to explain it. According to naming experts, entrepreneurs should give priority to real words or combinations of words over fabricated words. People prefer words they can relate to and understand. That's why professional namers universally condemn strings of numbers or initials as a bad choice.

On the other hand, it is possible for a name to be too meaningful. Common pitfalls are geographic or generic names. A hypothetical example is "San Pablo Disk Drives." What if the company wants to expand beyond the city of San Pablo, California? What meaning will that name have for consumers in Chicago or Pittsburgh? And what if the company diversifies beyond disk drives into software or computer instruction manuals?

How can a name be both meaningful and broad? Descriptive names tell something concrete about a business -- what it does, where it's located and so on. Suggestive names are more abstract. They focus on what the business is about.

Consider "Italiatour," a name that was developed by one naming company to help promote package tours to Italy. Though it's not a real word, the name is meaningful and customers can recognize immediately what's being offered. Even better, "Italiatour" evokes the excitement of foreign travel.

When choosing a business name, keep the following tips in mind:

• Choose a name that appeals not only to you but also to the kind of customers you are trying to attract.
• Choose a comforting or familiar name that conjures up pleasant memories so customers respond to your business on an emotional level.
• Don't pick a name that is long or confusing.
• Stay away from cute puns that only you understand.
• Don't use the word “Inc.” after your name unless your company is actually incorporated.

Get Creative

At a time when almost every existing word in the language has been trademarked, the option of coining a name is becoming more popular. Some examples are Acura and Compaq, which were developed by naming firm NameLab.

Coined names can be more meaningful than existing words, says NameLab president Michael Barr. For example, "Acura" has no dictionary definition but the word suggests precision engineering, just as the company intended. NameLab's team created the name Acura from "Acu," a word segment that means "precise" in many languages. By working with meaningful word segments (what linguists call morphemes) like "Acu," Barr says the company produces new words that are both meaningful and unique.

Barr admits, however, that made-up words aren't the right solution for every situation. New words are complex and may create a perception that the product, service or company is complex, which may not be true. Plus, naming beginners might find this sort of coining beyond their capabilities.

An easier solution is to use new forms or spellings of existing words. For instance, NameLab created the name Compaq when a new computer company came to them touting its new portable computer. The team thought about the word "compact" and came up with Compaq, which they believed would be less generic and more noticeable.

Test Your Name

After you've narrowed the field to four or five names that are memorable and expressive, you are ready to do a trademark search. Not every business name needs to be trademarked, as long as your state government gives you the go-ahead and you aren't infringing on anyone else's trade name. But you should consider hiring a trademark attorney or at least a trademark search firm before to make sure your new name doesn't infringe on another business's trademark.

To illustrate the risk you run if you step on an existing trademark, consider this: You own a new manufacturing business that is about to ship its first orders when an obscure company in Ogunquit, Maine, considers the name of your business an infringement on their trademark. It engages you in a legal battle that bankrupts your business. This could have been avoided if sought out expert help. The extra money you spend now could save you countless hassles and expenses further down the road.

Final Analysis

If you're lucky, you'll end up with three to five names that pass all your tests. Now, how do you make your final decision?

Recall all your initial criteria. Which name best fits your objectives? Which name most accurately describes the company you have in mind?

Some entrepreneurs arrive at a final decision by going with their gut or by doing consumer research or testing with focus groups to see how the names are perceived. You can doodle an idea of what each name will look like on a sign or on business stationery. Read each name aloud, paying attention to the way it sounds if you foresee radio advertising or telemarketing in your future. Use any or all of these criteria.

Keep in mind that professional naming firms devote anywhere from six weeks to six months to the naming process. You probably won't have that much time, but plan to spend at least a few weeks on selecting a name.

Once your decision is made, start building your enthusiasm for the new name immediately. Your name is your first step toward building a strong company identity, one that should last as long as you're in business.

11 Lessons I Learned at Startups That Keep Me Up at Night

Being an entrepreneur is a frightening experience. You’re constantly faced with challenges that frequently put you on edge.

Over the past six years, I’ve been involved in three different startups. Each offered unforgettable experiences -- most good, depending on your outlook. It certainly hasn’t been easy to co-found, lead or grow any of these businesses, and I’m lucky I’ve worked with excellent teams throughout my career. Though I haven’t yet seen it all, I’ve seen enough to realize the hard reality that is starting a business.

Here is a (relatively) short list of things that easily kept me up at night:

1. You’re replaceable-

Your customers, strategic partners, suppliers and teammates will always appreciate your contributions, but there is always going to be someone that’s better, smarter and nicer than you are. You have no time to be complacent because the bar is set higher and higher each day for individuals in your field. Also, no one has the patience to deal with jerks. So stay hungry and never stop treating people well. Do these things and you’ll be irreplaceable.

2. Reputation matters-

Don’t become the person everyone loves to hate. Instead, be the most outstanding person you can be. Do nothing that compromises your integrity. Stay honorable. People will like you more.

3. You’re responsible (even when it’s not your fault)-

 It’s true what they say. There’s absolutely no “I” in team. If something breaks, it’s everyone’s job to fix it. It’s unproductive to point fingers and no one benefits from pettiness. Fix it, prevent the problem from recurring and move on.

4. Others depend on you-

It’s a scary thought that you’re responsible to more people than just yourself. Your customers trust you to keep them happy, your team members turn to you for their livelihood and your investors expect return on investment. Your actions and decisions impact them, so remember to do what’s best for everyone -- not just you.

5. You’ll eventually have to disappoint people-

Some of your professional relationships will have to end. Some of your customers may not always get what they want. You can no longer grow if you’re carrying deadweight employees or fail to fire abusive customers, so trim the fat, but beware of leaving a bitter taste in their mouths or you’ll face the consequences.

6. Too much of a good thing is actually truly terrible-

 One day, you can be peddling your wares to local shop owners, a dozen at a time. The next day, all of the major news networks want to promote your product -- for free. You gladly accept and receive more sales in 12 hours then you’ve received in the lifetime of your business. Hooray! But wait, this gift has turned into a curse. As a startup, you have to be prepared for the worst-case scenario.

7. You’re forgettable-

Despite your accomplishments and the noteworthy mentions of you garnered in the press, within weeks, your business can feel like yesterday’s news. To be competitive and relevant, you must continue to innovate.

8. Building a business costs more than just money-

There’s also a price you pay when you make a habit of pulling the graveyard shift evening after evening after evening. Your relationships suffer and your happiness may decline. It’s easy for your work to consume you -- just know that you don’t have to let that happen.

9. Failure happens -

 It's difficult to stomach, but failure is natural. What makes matters worse is that your family and friends watch your every move anxiously hoping you’ll succeed. You’re allowed to fail and should fold a campaign or project if it no longer makes sense to continue on. When you’re ready to start a new adventure, you’ll be more prepared than ever.

10. Equity is messy- 

Fortunately, I’ve worked with honest people who’ve sought to compensate me fairly. At the same time, I’ve witnessed many not-so-lucky startup folk get taken advantage of. Be sure to negotiate.

11. You’ll face rejection -- a lot of it-

Be prepared to hear 100 -- perhaps 300 -- “no’s” before you ever get a resounding “yes” from someone. You may think it’s a numbers game: the more people you ask, the closer you get to finding your first customer. The real secret isn’t trying to sell more people though. It’s selling your idea, product or service to the right people, improving your pitch, story and salesmanship each time.

I’m only six years and three startups into my career and I, most certainly, have many more lessons I need to learn. Ultimately, it’s these lessons that help you become a better entrepreneur.

6 Changes Organizations Should Make Today

In today's competitive landscape, companies need to be efficient or get left behind. That said, companies are often stuck in their ways, leaving opportunity for growth out cold. Here are some things I would do if I took over your business today:

1. Reviews- 

Eliminate annual employee performance reviews and replace them with more regular reviews, thus making my managers more accountable. If I am only assessing employee performance once per year, there are going to be too many lost opportunities for development and the organization will be spending unnecessary time and resources on under-performing people. I want my managers to be empowered and accountable for developing their people.

2. Meetings- 

Refuse to go to any meeting where we weren’t discussing something that would have a significant impact on the results of the organization. We all go to too many meetings and most of those meetings don’t have a clear objective or agenda. If I were running an organization, I would want to know exactly what the meeting is meant to accomplish and why I need to be there. We shouldn’t be proud of the fact that we are in back-to-back meetings all day.

3. Face time-

Ensure I spent at least half of every day meeting with customers, suppliers, and business partners. Since I am one of the faces of the organization, it’s important that I have good relationships with key customers and business partners. Too many leaders spend time resolving problems or issues that could be delegated to someone else.

4. The numbers-

Eliminate most of the metrics that are currently being used and only use ones that clearly show we are progressing towards our future state. Many organizations have more metrics that they can realistically keep track of. Once you have a clear vision of where you want the organization to go, identify three to five metrics that will show your progress in getting there. Don’t overcomplicate things with too many metrics.

5. Planning-

Eliminate strategy retreats and time-consuming planning meetings and focus the organization on implementation and execution. Organizations love strategic planning sessions and still believe that developing a strategy requires a lot of time and effort. We are used to developing five-year plans. I’ve got news for you. The five-year plan is extinct. No one knows what will happen in the next two years, let alone five. I would focus on developing strategy quickly and building a strong competency in execution and implementation. I would then review that strategy every quarter to make sure it still applies and make adjustments as required.

6. Innovation-

Create a separate innovation team and implement a process for managing innovation to ensure we measure the possible impact of new ideas and then integrate them into the way we operate. Innovation cannot be harnessed properly if it is subject to the same metrics and budgeting process as the everyday operations of the business. Innovation may have a longer payback period and require some failure before significant results are achieved. I also want to make sure that my organization has a formal way of identifying, classifying, prioritizing, planning, executing and integrating new ideas into the organization.

Most organizations aren’t doing a lot of the things I mention in this article, even though implementing them would improve their performance and results. What’s stopping you from moving forward on any or all of these ideas?