Maidsfield Blog - Partnering and Business Development

As a discussion piece to the December Maidsfield Market Leader Newsletter, I welcome comments and challenges.

The basic message for Entrepreneurs is that sometimes we feel we need to be good at a great number of things to make our business successful.

We sometimes feel we need to earn the right, one step at a time, to secure a partnership deal with a major international organisation or to win that big reference client that will leap frog your business forward.

We sometimes hire people into positions that don’t truly take responsibilities from us and allow them to really take on the role. Whether the person is not good enough or you think you’re better at doing their job than they are. Hire people into senior positions that are plainly better than you at doing their job and give them the responsibility.

Don’t let your business have your limitations.

the most recent Maidsfield Market Leader Newsletter can be found at www.maidsfield.com/newsletter

any comments

As a discussion piece to the article on “How Do You Price Your Product?” in the December Maidsfield Market Leader Newsletter.

When businesses buy, they are investing to gain a return. Pricing is inherently linked to Return-On-Investment.

Do you know how a buyer constructs a Business Case for buying your solution? Do you know what arguments they make internally to their financial directors on why their organisation should buy your product? Do you help your prospects construct this business case?

Understand the Pain, the needs that your product is solving. Understand the cost of these pains to your prospect and how they calculate this tangibly. Understand your ability to resolve these pains, both tangibles and the intangibles, ie: the frustrations, complaints, distractions, sleepless nights etc. Sometimes the intangibles are worth more than the tangibles, to the certain people.

Price according to what your solution is worth to your prospect to resolve the need and clearly demonstrate your proven track record, which better guarantees success. Your clients success that is.

do take a look at the December Maidsfield Market Leader Newsletter.

and all comments welcome

firstly see “What to for in 2006″ in the December Maidsfield Market Leader Newsletter mention of three things…

Blogging
Podcasting - see www.podleaders.com
and IT@Cork delivering greater value to it’s members

There is a significant pick up in the sector in the past year…. where is it going and how do we take best advantage of it

what other things should we be watching to help us in 2006?

Damien Mulley asked some very relevant questions to tease out my views on the Industry and IT@Cork and more…

see Newsroom.ie

I mentioned some of client companies in brief, Azotel, Decare Systems Ireland, Sigtec and Interactive Reporting. In the future, I will provide updated information on these and more tech companies I know of in the Munster area…..

Many people and companies focus too much on capabilities and expertise they don’t have. They forget and take for granted the expertise they do have.

Your customers are the best people to find out the true value of what you do, even if you don’t charge for it.

I think its better you ask an experienced third party to do this for you. Surveys are OK but may not give the full picture. Ask someone to meet with key clients and talk to about why they do business with you.

In doing this for others (in the past), I would always ask

would your pay three times as much as you did?.

In one case in talking to 10 customers, 9 out 10 said yes.