How to Get Retail Stores to Sell Your Wholesale Products

How to Get Retail Stores to Sell Your Wholesale Products

4 min read

how do i find wholesale suppliers

It is a competitive world and getting your products to be sold at major retail stores is not easy to achieve. You’ll be dealing with people who’ve been in the game for a long time and know when a good product comes across their plate. If you lack the experience of delivering sales messages and don’t know how to sell wholesale to retailers, you’ve arrived at the right place. Here are our tips on how to approach a buyer with your product and make a sale!

How to Sell Wholesale Products

Research the Retail Store

Before making any initial contact with the retail store, you must learn about their history, reputation and relationships with past and current customers and suppliers. Try to talk with fellow suppliers that are not a direct competition, and get some valuable information and insights. That way you will be better prepared for the meeting and you won’t be surprised by the retailers unique policies that may pop up during the conversation.

Retail Stores Demand Solid Infrastructure

Retail stores demand solid infrastructure because it represents a crucial factor for green lighting the potential collaboration with your company. That solid infrastructure consists of high-level packaging that creates a positive effect with customers, dependable and efficient shipping and logistics system and the capability to handle large orders. Getting this infrastructure in order guarantees a successful collaboration and good selling of your wholesale products. Prepare your infrastructure before approaching a retailer and present it as one of your main strengths.

Get Your Pricing Right

Offering pocket-friendly prices may increase the chances for future collaboration, but you must do the math and protect your own financial interests. That’s why when selling to retailers pricing plays a major role in the negotiation process. Before you make your sales pitch to the store,  determine the following – your own policies and terms concerning the minimum order amounts, terms of payment and what payment methods will be used, shipping options, and return and exchange policies. By carefully planning and defining all of these beforehand, you are not only protecting your business but building a solid back structure for future partnerships with many retail stores.

Choose the Right Communication Method

We are living in the golden age of communication. Whether through email, video chat, meeting face-to-face or sending an old fashioned product introduction letter to retailers, you have plenty of methods to choose from to make your first contact. Which one you’ll choose depends on numerous factors, but often is influenced by the age generation the sales manager belongs to. However, digital channels have proved numerous times to work best for making the first sales pitch. After you’ve presented your goods through an informative email, the retailer may call for a face-to-face meeting. If you get to the meeting stage, closing the sale is very near. You just have to make sure to sort out the details of the arrangement.

Follow-Up Is a Must!

Not all deals are signed with one or two meetings. Some retail stores management teams require time to think over the details and decide whether your product will add value to their store. They’ll probably do their own research before they make a long-term commitment to your business. For that reason, you must act hastily, send them an appreciation email and thank them for taking the time to listen to your presentation. Use that opportunity to fortify your stance on why your product would be a great addition to the store’s offerings. Follow-ups don’t stop with one mail, so be persistent and send follow-ups, until you feel that it is enough and move to other clients. However, note that most retail stores respond positively after the third follow up!

How a B2B platform can help you increase your sales

Enterprise League is a B2B platform that helps businesses find other businesses to collaborate with. We help businesses like yours find new opportunities and connect with each other. We think that the digital method is the best way to approach retail stores and sell your wholesale products because you can gain all the information about their brand and what they are selling.  Connect with retail stores and make the initial contact. Additionally, companies can recommend your products to other partners from abroad and help you scale your business fast. Enterprise League is built from entrepreneurs for entrepreneurs!

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How Small Businesses Survive Competition in Today’s Economy

How Small Businesses Survive Competition in Today’s Economy

5 min read

how do i find wholesale suppliers

Small businesses bring communities together. Your favourite restaurants, wholesale stores, coffee shops and others are all part of the small business group. Small businesses are emotionally bound to families and communities that make big cities more diverse and economically prosperous. But actually how small businesses survive competition? 

Setting and running a business is not an easy task. The fact that nearly 60% of new companies fail in the first five years scare a lot of potential entrepreneurs from starting a business on their own. If you want to know why small businesses fail and how to survive the competition you’ve arrived at the right place. Below we will answer these questions that can help you along the way of becoming a successful small business owner.

Why Small Businesses Fail?

Bigger Fish

The thing is that industries are led by the large companies that naturally bring more profit and occupy nearly the entire market. Their influence can create trends and set standards that impact the small business survival rate. Moreover, they are constantly developing new technologies and techniques that make production easier and economically more efficient.  Surely a new technology is always more than welcome, however, when it’s too expensive to integrate it into your business it may start causing troubles. 

Setting Up

Many inexperienced entrepreneurs, when starting their own business, think that setting and running a small business is an easy task. On the contrary, it often proves to be a hard and daring process requiring constant innovation and leads generation. Finding working space, suppliers, identifying potential customers, running digital campaigns and hiring staff are just a few of the obligations that a small business owner must complete so their business functions normally. Actually, if something goes wrong for just a second all of the hard work invested into the business can be gone for good.  For that reason, choosing the most suitable survival strategies for startup business is a priority if you want to stay in the game against all odds.

Start for the Wrong Reasons

One of the most common reasons why businesses fail is starting it for the wrong reasons. I understand that we all want to be millionaires, but do you have the required knowledge, money and time for your business? Surely you cannot sell dentistry supplies without having a basic knowledge in dentistry. Moreover, you need to invest a lot of money to buy products and keep them in stock so you’ll be ready to answer a big demand. If not, you risk losing collaborations due to inability to meet customer expectations. Many have walked that path and failed gloriously. To avoid that, you will need to sacrifice a lot and find the right reasons such as love and passion for your job as well as determination and patience.

Poor Management

Many statistics reveal that small businesses fail because of poor management. New entrepreneurs lack relevant business and management knowledge in areas like purchasing, selling products and managing employees. Failing to find an appropriate reaction when dealing with a misunderstanding with a supplier and a worker can be costly for your company, especially when that supplier or worker is crucial for your business. 

Lack of Planning

Without a plan, Doomsday is not so far away. You’ve got an idea, but what next? In the business world you cannot prosper without a short-term, medium and long-term plan. How long do small businesses last when they lack a long-term strategy? Not long, that’s for sure. So if you lack the skills and knowledge required for planning, don’t be afraid to ask for outside help, like a consultancy, a mentor, coach or something similar. Like we said before, entrepreneurs who fail to plan, plan to fail gloriously.

How Small Businesses Survive Competition?

Reinvent Your Business

As time goes by people get tired of buying the same old products and services. There is nothing wrong with the quality of yours, it is just our human nature – to get bored of doing the same thing repeatedly. Therefore, you need to reinvent yourself. You can do that by analyzing the market and competition and see what they’ve changed. Whether it is going to be a new packaging, an entirely new product line, or a service offering the same solution but with an upgrade, it most certainly will catch the attention of your old customers back and even attract new ones along the way. On the other hand, some say that reinventing the wheel cannot turns things around, but times have changed and this method really creates results.

Create an Online Store

Nearly 70% of shopping is done online, and that trend will increase in the coming years. Do you have an online shop? If not, why not? After all, we are living in the golden age of e-commerce and you must take full advantage of the situation. However, I can understand that even with an e-commerce shop you still struggle. SEO and digital marketing as a whole are becoming more expensive and complex each year. But there has to be a solution to that problem, right? Actually, there is! This is where Enterprise League enters the picture. We are a B2B platform that builds new partnerships and creates new opportunities. You can collaborate with companies all around the world and grow at your own pace. Check out all of our great features and sign up here to regain the control over your business.

Contact Competitors or Their Former Customers

The best way to find reliable information that can help you survive is by reaching out to your competition. I am not talking about a competitor in your local area, but one that is located far, far away. The truth is, they have knowledge and experience acquired over many years in the industry. While not being their direct competition, they will offer insights, knowledge and even sales techniques that can help you grow your business. And again, Enterprise League can build that bridge for you and connect you with such companies. Find a company with the same niche and different country and connect immediately. 

Team Up with Vendors for Joint Sales

The most important sources for small businesses are recommendations and referrals. The best way to get more referrals is to team with other companies that sell on the same market but do not represent direct competition to you. Collaborate with each other and recommend other ventures that can help you grow. This is, once again, available on our B2B platform. Through Enterprise League you can build strong and loyal partnerships that will only bring profit and prosperity for your business.

Switch Suppliers

If your current supplier does not lower their prices, or can’t seem to meet a deadline, you might need to think about switching vendors. Act timely, because if you don’t explore your options, your competition may beat you to it and you’ll find yourself falling behind, rather than leading the way. To that end, Enterprise League offers one of the best ways to find suppliers. All you need to do is to publish a tender specifying your needs and you will be contacted by a wide range of suppliers with their offers. It will be up to you to choose the one that matches your criteria. Finally, tenders is a powerful tool that can be used in so many different ways, be creative and put it to good use for your business. 

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How to Get More Customers for My Small Business

How to Get More Customers for My Small Business

5 min read
get more customers

We’ve said it before and we will say it again – small businesses are the backbone of every economy and, unfortunately, struggle to get more customers. If you are a small business owner, you are awesome, and thank you for making our lives better.

However, not many people realise the problems small businesses face when trying to get more customers. Some of them succeed to overcome these issues, while others fail. As a matter of fact, only 75% survive their first two years in business and things only get worse from here on – only half of that number make it to year five. Lastly, only one third reaches the golden 10 year anniversary of their business.

Nevertheless, there’s no need to panic because in this article we will answer the question you’ve been asking all along – “How to get more customers for my business?”.

Identify Your Ideal Customer

One of the most important aspects of attracting customers to your business is creating an ideal customer avatar. A customer avatar is a detailed profile which outlines every information about them, without generalising and grouping them. To identify your ideal customer you will need to gather information like age, location, interests, pain points and other details of crucial significance for your marketing strategy. For example, Suzan, 38,  lives 5 km away from your store. She is too busy and cannot visit your shop physically, but she always shops online and doesn’t mind paying a delivery cost.

Discover the Location of Your Clients

Now that you’ve you’ve built a customer avatar, the next step is to find out where they hang out. You can start with exploring forums like Reddit, Facebook groups or even Quora. These are places where you can find a lot of information (at no cost) about their location and the problems they are having accessing the desired product or service.
With the help of this data you can decide where you should put your focus on. Are they members in some particular social media groups or they prefer real-life conferences and events? For instance, Suzan has an online business – handcrafted jewelry. The little free time she has, she uses to network online in business related social media groups.

Become an Expert in Your Field

The easiest way to attract new customers and bind them with loyalty, is to show expertise. Your customers will gain more trust and respect for you and your business as well, when they realise how deep your knowledge on the specific industry you’re into is. This will make them feel confident and safe to purchase your products or services.

Present Yourself as the Solution

Present your company to the potential clients as the problem solver. Send a clear message to your customers that you’re focused on providing high quality solutions that bring actual value. One of the most effective ways to reach out to your potential and existing customers is by creating and sharing engaging content, such as blog articles, instruction videos on YouTube, podcasts, newsletters etc.

Your overall reach will be increased, thus creating new leads. Also, if you want to expand even further, contact popular blogs or famous YouTube channels. If your content is good enough, you might not spend a dime for the new reach. That way, you will not only be creating brand awareness for your business but show expertise as a solution maker as well.

Adopt a Call To Action Marketing Approach

The Call-To-Action tactics is know to have huge success when it comes to marketing. CTA means reaching out to your audience with an attractive, or even provoking message that offers value and motivates them to react. Additional, CTA campaigns are known to trigger FOMO, thus the reason for being so effective. They invoke a powerful emotion that compels potential customers to react fast.

Show your customers that you understand their problem and give them the solution. They know that it’s best to get the solution sooner rather than later, because the problem costs them time and money. On the other hand, with your products and services at their side, they can rest assured that the problem is long gone.

Build Strong Connections

On your road to find new customers and increase sales you must connect with other companies offering complimentary services. Teaming up with other SMEs provides the possibility to take advantage of synergy, which is essential in developing a successful business.

We believe that strong partnerships are one of the key elements for SMEs success, and that is why we have focused on solving this pain point. For this purpose we have built a B2B platform that offers small and medium sized companies the chance to connect to new businesses and find new opportunities quicker and easier than before. If you require suppliers, transportation services, tech support or anything else from a specific industry, our platform is the place to find the right connection.

 

 

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5 Ways to Cope with Anxiety and Help Your Body and Soul

5 Ways to Cope with Anxiety and Help Your Body and Soul

3 min read

Mental health day
As we celebrate Mental Health Awareness Week in 2019, we look back at the most common mental health problem entrepreneurs have in the 21st century – anxiety. This year mental awareness week theme is all about body image and how we think and feel about our bodies. That’s why we chose to talk about how anxiety affects our eating choices and the effect it has on our bodies and mental health.

First of all, no one is immune to anxiety. We all experience it at least a couple of times in our lifetime. However, if we don’t pay attention to it and treat it properly, anxiety can become a chronic problem that interferes with our eating habits and affects our body both physically and mentally.

Anxiety is a state of worry, nervousness and expecting something terrible to happen at any moment. The red alert is always on in our mind and we’re in constant state of emergency. It usually comes from unfulfilling personal goals, which might be set too high in the first place. One of its most frighting effects is excessive weight gain. There are people who gained up to 50kg in under 2 years, all because of anxiety. In some cases, people choose not to rely on professional expertise and find a (wrong) mechanism to deal with it. If you are struggling with it now and want to turn back to being healthy, both physically and mentally, here are five ways to cope with anxiety and get yourself back on the healthy track!

Question the Pattern of Your Thoughts

Anxiety feeds on negative thoughts and feelings that imprison your mind and soul. The first step towards treating anxiety is discovering when and why this negativity has started taking over your mind. So, ask yourself whether the concerns are real or not. Is there a logical explanation behind them? What triggers these poisonous thoughts and fears ? Now, reflect on the answers rationally and start to regain control over your health again.

Aromatherapy

Often times alternative medicine can do wonders for the human mind and body. Essential oils are the weapon that aromatherapy uses to relax you to a level where all anxiety is gone and the mind is calm once again. Some of them can truly stabilise your appetite and aid your body in finding balance again. Chamomile, lavender and sandalwood are one of the scents that have the best impact on mental health. They have powerful properties that activate specific receptors in the brain and decreases the symptoms of anxiety.

Deep Breaths

Deep breathing deals with anxiety quicker than any other method. There are several deep breathing techniques, with the five-minute one offering the best results. Breathing is done in four counts in and four counts out in an interval of five minutes. When you even your breathing, your heart’s rate gets back to normal and calmness overtakes your body.
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Women’s Business Empowerment and Gender Equality

Women’s Business Empowerment and Gender Equality

3 min read

gender equality
Have you heard of Sarah Breedlove? She was an African-American woman living in the 19th century who achieved success no other woman imagined possible at the time. Or for Margaret Hardenbrook Philipse who lived in the 17th century and used her ship fleet for trade? Or Madame C. J. Walkerand? No? Really? OK then, let’s get back to the present. There are many female entrepreneurs who have built successful companies that set new pace, value and standards in be business world. We’ve witnessed how their ideas and work made the world a better place. You might think it is 2019 after all and this has become a norm. However, even today gender equality has yet to see the light of day and improve the prospects for women.

Many careers of smart and capable woman stagnate because there still isn’t gender equality in the workplace, although some would argue. It’s frustrating, because gender inequality shouldn’t be a problem of the 21st century. However, the problem has become more complicated than ever and the discrimination that existed before feminists started the revolution, still exists undercover.

What Is Gender Equality?

It is a social, political and economical concept that brings balance between genders. Women with the same or higher level of education and capabilities do the same amount of work as men, yet they receive less money than them. Gender equality fights this gap and other issues that have been ignored for centuries. I’d love to believe that in time a fair balance will finally prevail.

It really grinds my gear analysing the numbers about the pay gap between genders. It seems like there are people who still don’t believe that a gender gap exists, while at the same time they offer men more privilege. If you are a male entrepreneur and reading this article I really hope that this article will help you become more progressive and smart leader by creating and executing gender equality policies in your venture.

Why Gender Equality Is Good for Everyone

All men should fight for gender equality because it benefits everyone. Still not convinced? Well, let the facts speak for themselves. If we look at countries that have balanced gender equality score, the overall highest happiness score is through the roof. Plus, those countries with gender equality have stronger economies. Furthermore, research shows that professional environments with gender equality are more productive and efficient. This is why is gender equality important for business.

We’re proud to say that Enterprise League empowers women. Our CEO and co-founder Irina brought this platform to life by putting her knowledge, skills and dedication to good use. Together with the other co-founder, Atanas, they have created a way for small and medium businesses to collaborate with each other and grow. A man and a woman standing shoulder to shoulder! Aren’t we an example for the whole world? Lead by them, our entire team is on a mission to help in creating successful stories. Join us today and change your business forever.

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4 Common Myths about Owning a Business – BUSTED

4 Common Myths about Owning a Business – BUSTED

4 min read

Owning a Business
Entrepreneurs are everywhere and that’s a good thing. The economy is growing and the future is prosperous. However, if you are a newbie in the world of entrepreneurship, many business myths might confuse or even scare you. In reality, no one can prepare you for all the work and effort that comes with starting and running a business. Every journey is individual, but some old myths keep baffling entrepreneurs.

These myths create unrealistic expectations about starting a business or scare you so much that you might even give up on the idea of starting your own. Nothing to worry about, your hero Enterprise League is here. Yes, we will become Myth Busters for a moment and debunk the myths about owning a business and becoming an entrepreneur.

1. You Will Have Plenty of Free Time

Many will laugh at first then frown and cry in the end. This might be an exaggeration, but that myth is so busted. Ask any entrepreneur who started the business six months or one year ago and they will tell you the same. Moreover, on the internet, you can find all these success stories from entrepreneurs that work only 8 hours or less. That’s so fake and fairy-tale-like that it made me laugh out loud. Owning a business requires more than 8 hours. Forget about going to work from 9 to 5. You will be the first one that comes in the office at 7 o’clock and the last one that leaves at midnight wishing there were more than 24 hours in a day.

Another thing people fail to realise is that when you work as an employee in an 8-hour job, you get a pay check regardless of how well the business is doing. On the other hand, when you are the owner, chances are you’d be the lowest paid employee, yet you’d have to work around the clock to even begin to be profitable. After a while, it might pay off, earning six or even seven figures per year. But until then – keep grinding!

That’s one business Myth BUSTED, three more to go.

2. You’ll Sleep Less

Yeah, it might be true for a while at the beginning or your entrepreneurial journey, but you’re not a robot and it cannot continue forever. Of course, there’ll be many sleepless nights concerning over problems at work and trying to come up with a solution so you can save the day tomorrow. However, if you continue on this path of zombies for long you will be destroying your business and yourself as well. You need sleep to function properly! So, it’s safe to say this myth is BUSTED too.

3. You Won’t Have Enough Time for Family & Hobbies

Also, do not forget one crucial part of your life – family. They’ve always been your most loyal support, right? Believe me, you don’t want to sacrifice your relationships by overworking and forgetting to spend time with them. Many entrepreneurs make this common mistake and destroy their lives.

What about hobbies and other actives after work?

Yeah, you might not have time for all of them, but if you can’t allow yourself to reward your mind and soul with pleasurable activities, then what’s the point of being your own boss? Don’t forget to look after yourself and spend more time with your family. After all, a healthy and happy entrepreneur equals a successful business.

So beware, because despite being a MYTH this can very easily become true if you don’t address it properly

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