Why You Should Never Ask Your Market What They Want To Buy

If you want to REALLY know what people want to buy, then this article will explain why you should never survey them about it.Gary Halbert, the prince of print as they called him back in the day, used to lecture to marketing students. He wanted to show them that people don’t really put their money where their mouth is, which could be hazardous for a marketer who wants to know what they really want to buy,
so he asked the students:Who in here would prefer going to a play than going to a movie?90% of the students raised their hand.”Liars!” he cried, “And I’ll prove it!”And then he asked:

“How many of you have been to a play in the last week?”Almost no one raises their hand”How many of you have been to a movie in the last week?”80% of the students raise their hand”I rest my case!”Another fact -When asked about their favorite book to read, most people will instantly respond it’s The Bible.But if that’s true, then how come more copies of The National Enquirer are sold EVERY MONTH than bible copies in the last century?Gary Halbert’s answer – “Must be all those damn Martians… “That’s the reason you don’t want to ask people what they’re interested in because that’s when the pompous intellect in them kicks in and says what people (and their own ego) want to hear. Everybody wants to feel good about themselves and their priorities.But one fact holds true -Although people rarely put their money where their mouth is, people almost always put their money where their true desire isSo how to find out what your market really wants?Find out what worries or pisses them off – be a fly on the wall in your market’s forum, read the magazines they’re reading and simply ask people who bought from you what convinced them.

Find out what people in your niche are spending their money on – check out your niche best selling products and best-selling books on Amazon. Read people’s reviews (especially the long ones) of these products to get a good understanding of what they were expecting to get from them and why they were disappointed or glad they bought it.Just following the two above tips will give you an outstanding insight into what your market really wants and what your future products should be about.When you get stuck – always go back to your market. That’s where all the answers are.

Are Inventory Financing Lenders and P O Factoring Solutions Your Best Business Financing Bet?

Your worst business nightmare has just come true – you got the order and contract! Now what though? How can Canadian business survive financing adversity when your firm is unable to traditionally finance large new orders and ongoing growth?

The answer is P O factoring and the ability to access inventory financing lenders when you need them! Let’s look at real world examples of how our clients achieve business financing success, getting the type of financing need to acquire new orders and the products to fulfill them.

Here’s your best solution – call your banker and let him know you need immediate bulge financing that quadruples your current financing requirements, because you have to satisfy new large orders. Ok… we’ll give you time to pick yourself up off the chair and stop laughing.

Seriously though…we all know that the majority of small and medium sized corporations in Canada can’t access the business credit they need to solve the dilemma of acquiring and financing inventory to fulfill customer demand.

So is all lost – definitely not. You can access purchase order financing through independent finance firms in Canada – you just need to get some assistance in navigating the minefield of whom, how, where, and when.

Large new orders challenge your ability to satisfy them based on how your company is financed. That’s why P O factoring is a probably solution. It’s a transaction solution that can be one time or ongoing, allowing you to finance purchase orders for large or sudden sales opportunities. Funds are used to finance the cost of buying or manufacturing inventory until you can generate product and invoice your clients.

Are inventory financing lenders the perfect solution for every firm. No financing ever is, but more often than not it will get you the cash flow and working capital you need.

P O factoring is a very stand alone and defined process. Let’s examine how it works and how you can take advantage of it.

The key aspects of such a financing are a clean defined purchase order from your customer who must be a credit worthy type customer. P O Factoring can be done with your Canadian customers, U.S. customers, or foreign customers.

PO financing has your supplier being paid in advance for the product you need. The inventory and receivable that comes out of that transaction are collateralized by the finance firm. When your invoice is generated the invoice is financed, thereby clearing the transaction. So you have essentially had your inventory paid for, billed your product, and when your customer pays, the transaction is closed.

P O factoring and inventory financing in Canada is a more expensive form of financing. You need to demonstrate that you have solid gross margins that will absorb an additional 2-3% per month of financing cost. If your cost structure allows you to do that and you have good marketable product and good orders you’re a perfect candidate for p o factoring from inventory financing lenders in Canada.

Don’t want to navigate that maze by yourself? Speak to a trusted, credible and experienced Canadian business financing advisor who can ensure you maximize the benefits of this growing and more popular business credit financing model.