Ok, let’s start with the basics. Businesses that trade commercially are involved in the provision of goods, services (or both) to their customers, be they consumers (B2C), other businesses (B2B) or just a customer in general.
To do that successfully means having a product or service that:
- Your potential customer needs
- They’re prepared to purchase what you have
- And potentially buy it at the price you want to sell at
- You know (but sometimes hope) that this will make you a profit at this price
- Is competitive in your marketplace
- Can be developed and expanded to remain competitive and deliver future success
- Can be marketed, sold, implemented, delivered and supported as required
The issues for businesses that trade commercially are as resonant today as they were 25 or even 40 years ago.
It’s not rocket science, (although if you watch ‘The Apprentice’ you’d think it was). Whether you’re selling goods from a market stall in the East End of London, or selling a multi-million pound solution to a FTSE 100 company, the principal criteria that need to be addressed are exactly the same.
So, as mentioned above, it’s not just about knowing what your ‘Customer Expectations‘ are, but more importantly it’s about how you can set them, to your advantage.
Then it’s about assessing what the realistic ‘Market Potential‘ is for your products and services, before you then address your ‘Commercial Business Strategy‘