Selling In A Difficult Economy

Eleven powerful points to remember when selling in a difficult economy:

1. Stick to what you know. You've been told this many times and we all like to test our wings and branch out a little the the opportunity arises, but difficult economic times may not be that time. First principles, including sticking to what you know, is never a bad thing.
2. Buy super bargains. Sure. That's one of those easier said than done things, but in a difficlut economy there will be lots of people trying to unload excess inventory. See point one and then hammer out a good price.
3. Have a large enough, diversifed, inventory. It's always important to have a large enough inventory, and it should always be diversified, giving your customers a choice between something or something instead of something or nothing. Variety is, after all, the spice of life.
4. A buyer only buys something when they want it. And a poor economy can actually cause people to want things they might not otherwise buy. See the three previous points and then get listing!
5. You cannot make a buyer buy something if they do no want it. It's been said that you sell the sizzle, not the steak so you want to direct your promotion efforts at getting people to your site and you want to feature the best, most sizzling aspects of the items you sell.
6. Buy where the market is low and sell where the market is higher. Sure, you always try to do this. But do you really? Have you thought about buying end-of-season deep discount mark-downs in your local area and then offering them to the other half of the globe? When it's spring time in America winter is on its way in Australia!
7. Don't venture beyond your area of expertise. See point one! Not only what you know but what you are actually good at is a powerful marketing tool that you possess. Use it to your advantage.
8. Be prepared to humble yourself and handle items you formerly referred to as lowly widgets. Not everyone drives Cadilacs. Even when buying is down by 50% you can double your sales by finding something that sells twice as well as what you sell now.
9. In business, in general, one must be able to turn on a dime and change their plans, not their goals. It's been said that you set your goals in cement and your plans in sand. This is never more true than in difficult times. Don't be afraid to make changes in the way you will get to your ultimate goals.
10. Those who do the same old thing in a recession often have troubles. It's an old saying but it's really quite true. You need to examine what you are doing, what is and isn't working, and figure out what you need to do next. Coasting may work for you in good times. It won't likely work so well in bad.
11. Listen to yourself and believe in yourself and your abilities. You have good qualities or you wouldn't have gotten to the point you are at. Don't be afraid to use the qualities of asking, listening, and learning. You've got those abilities for a reason too!