Do Business Well

Master your Product

There is no doubt that great persuaders know their product, service, or business. I have found that great persuaders use their own product or service. Through this use, they have experienced what their audience will experience. You must know every possible thing about your industry. Nothing is going to surprise a great per- suader. They are up to speed on the economy, the industry, the company, and the competition. The time and energy you invest get to this level will define your position with respect to top persuaders. Persuasion Institute statistics tell us that only 22 percent of persuaders feel they have great product knowledge. How well do you know these important aspects of your business?

• Customers
• Industry
• Trade journals and magazines
• Trade shows
• Current advertising campaigns
• Installation protocol
• Annual report

• Demonstrations
• Credit risks
• Training available
• Market trends
• Business news
• Market conditions

Do you know everything about your product or service? Do you know everything about your competition? In order to master your product, you should be able to answer the following questions fully:

• What are my product or service’s weaknesses? Strengths?
• What are my product or service’s advantages? Disadvantages?
• How will the economy help or hurt my business?
• What percent of the market do I have? What percent do my various competitors have?
• Why are my consumers loyal to my product or service?
• Do I know my (and my competitors’):
• Pricing structure?
• Delivery options?
• Warranties?

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