What's Important to Buyers in a Recession?

Since we are in a recession currently, it's essential to learn what is important to buyers during this time. Many people think that price is the only thing that concerns buyers, but that is not necessarily true. I believe that the most important thing to buyers during tough economic times is VALUE. Why Value? Because people want the best product for their dollar. When you are pinching pennies, don't you want to get the most bang for your buck? So what constitutes value?

• A product that works and is reasonably priced. If a product is cheap but doesn't work, then it's basically a waste of money. But, if a product works really well and isn't overpriced, then it has VALUE.
• A product that has scientific proof that it is effective. In this day and age of juices, vitamins, pills, and lotions that are supposed to heal and solve health problems, etc, it is hard to weed through all the claims and find the legitimate ones. That's where the science comes in. Customers want to know WHY & HOW something works - not just some testimonial about it. The science behind the product gives it VALUE.
• A company that offers good customer service & guarantees. While I know that I can go to Wal-Mart and get a similar product that is offered at LLBean, I often go to LLBean because I know about their great customer service and their guarantee. Sure you might pay less up front at Wal-Mart, but if there's a problem with the product breaking down 5 years from now, you're more likely to get great service from LLBean. People VALUE being treated well and knowing that they can get their money back if they are unsatisfied.
• Loyatly rewards. Customers have a choice where to shop - if they shop with you on a regular basis, reward them! They will probably shop with you for the above mentioned reasons, not because of the rewards. But the rewards will be an added bonus and will remind them of the VALUE of shopping with you. And if you have customers coming back to you over & over, you're in business.

When you are working from home, it's even more important to offer value to your customers. And if you are considering starting a business, keep this in mind. Ask yourself if the company has products that work and are reasonably priced? Does the company offer scientific proof to back up their claims? What about guarantees & customer service? Finally, are there loyalty rewards that either you or the company will offer? Be sure to offer VALUE to your customers, especially in these difficult economic times.

Moms Working From Home

Now that I am a mom, I am meeting even more moms who either want to work from home or are already doing so. The balance of caring for children and having a full-time job is really challenging for most moms. I can't imagine having to work full-time PLUS come home and care for my newborn. I am exhausted enough as it is, and I only work 10 hours a week outside of my home. So I completely understand and relate to the desire (and NEED, for most moms) to earn some extra income while also staying at home with the little ones. Some moms opt for having a home based business. But choosing the right one can be a challenge, especially when you've already got tons of other responsibilities to worry about.

So here are some tips for busy moms:
-Find out if the business will require you do to parties/shows (i.e. leave the house) and consider whether or not you want to do this.
-Find out about the products. This seems obvious, but I'm referring to a little more detail. Determine whether the products are something that the average person would buy. For example, jewelry is something that some people might buy, but not everyone. On the other hand, bath & body products or cleaning products are things that almost everyone has to buy.
-What is the price point? Now note that price is NOT the most important thing in someone's buying decision. However, VALUE is! So be sure that the products provide value (i.e. the price is reasonable and the products are exceptional). If the price is TOO high, most people won't purchase. But if the products are not unique, people won't buy even if the price is reasonable.
-How does the compensation work? Will you have to track your sales and take commissions, etc? Or will the company generate a check to you? Will you earn residual income or will you need to find new customers for income next month?
-What is the growth record of the company? And how does the company do in a recession? This is especially important right now since we are in a recession currently. A lot of companies, such as juice companies that sell an expensive product that most people aren't already buying, are struggling right now. Find out if the company you're considering is doing well or struggling (and if they won't tell you, that's a sign to stay away).

If you have other tips for moms considering working from home, be sure to leave them in the comments!

Sales Book Review

One of my New Year's Goals is to take the time to read one book a month that will help me in my business. This can be a personal development book or a book specific to business - but the goal is to help me improve in the areas that I lack in and become a more effective business person. So the first book I am reading is Jeffrey Gitomer's "Little Red Book of Sales Answers." I received this book from my mom for Christmas, and I just started reading it the other day. I am already engrossed in the book and I am learning a lot! Here are some of the things I am enjoying:

• The book is set up in 6 different sections that are easy to follow.
• In each section, there are several questions that sales people ask, and then he provides the answer. These are not your typical pat answers - they are answers that you can actually use and apply.
• There is a wealth of info in this book. Even if you are not in sales, you could still learn a lot about personal relationships and interactions in this book.
• This is the kind of book you want to have handy, and you can read one or two answers a day just to stay sharp!
  

So if you have a home business and are looking to expand your skills, I highly recommend this book!