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Reverse The Risk
Whether your small business is product or service based, you're not going to make any money until people start spending money with you. It is amazing how many people get everything in place - premises, staff, paperwork, accountants, solicitors, suppliers and stock - before they've given any thought to how they're going to pull in the customers who actually pay for it all.
This small business help tip is a sales method which can be adapted to just about any business, from the smallest home businesses right up to the biggest corporate. It's a system which has proved itself time and time again. Multi-million pound businesses have been built on it and it rarely, if ever, fails. What's more, you probably know all about it.
So, what is it? To illustrate how the system works, here's a potted version of a story which marketing guru Jay Abraham uses in his seminars.
A man is considering buying a horse for his daughter's birthday. He's narrowed the choice down to two, both of which seem equally attractive in terms of price and suitability. The man decided to go back and look at both animals again before reaching a decision.
The first owner welcomed him back, went over the attributes of the animal again, and restated how it was reasonably priced and just the right size.
The second owner had a slightly different approach. He said the following: "Look, I want you and your daughter to be completely happy with the horse. I don't want you to buy it under any other circumstances, so here's what I suggest. I'll deliver the horse round to your premises this afternoon, together with enough food to last a couple of weeks."
The seller continued, "Let your daughter ride the horse, get used to it and decide whether they're going to get along together. Come back and see me in two weeks. If the horse isn't right for you just let me know and I'll call round and pick it up. No fuss, no hard feelings. If she likes it, as I think she will, bring your cheque book and you can pay for the horse then."
Which horse do you think the man bought? It's not difficult to guess, is it?
This small business help technique, most commonly called risk reversal, is applicable and adaptable to just about any small businesses. The psychology of it is both simple and strong. The main inhibiting factor in any business transaction is the fear of making a mistake. This small business help technique removes that fear.