Are You Ready to Become a Reseller? Important Questions to Ask  

Becoming a technology reseller can prove to be a lucrative business opportunity. However, while it’s a viable business option, it’s not always an easy one — and not every entrepreneur or business is well positioned to offer technology solutions to clients.

As you begin to explore the possibility of becoming a reseller, ask yourself a few important questions to evaluate your business’s readiness to jump into the reselling fray. Your answers to these questions can help you determine if you should pursue opportunities now, or do some work developing your business before you move forward.

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Question #1: Have You Fully Evaluated Potential Vendor Partner Programs?

Every vendor partner offers a different reseller partner program. The key term to remember, though, is partner. Don’t focus exclusively on compensation and reward programs (although they are a concern) but also consider how well the vendor partner works with you to support your business and help you grow while offering the highest possible level of service to your clients.  Your vendor partner should be working side-by-side with you at all times, offering resources and support for training and development as well as assistance closing deals.

When evaluating potential vendor partner programs, you should also consider the advantages of a particular vendor over others. Can you identify the “wow” factor that creates a better experience for your customers? What are the competitive advantages that a vendor offers? Your reseller partner should be able to articulate these advantages, specifically as they relate to your target market. Without the ability to identify these points, you will struggle to build your business, and may not see the success you hope for.

Question #2: Do You Have the Staff and Experience to Successfully Resell Technology?

Growth and change are constants in the tech world, and as a reseller, you need to be able to keep up with those changes. However, on a day-to-day basis, your customers are going to expect assistance and support, from the beginning of the purchase process through maintenance and growth.

The question then becomes one of whether or not you have the expertise and knowledge necessary to provide the services that your customers need, and if you need help, can you get it? Some Cisco distributor partners, for example, offer Cisco tech support to their authorized resellers, helping them as they get client businesses set up. If you don’t have access to resources and support, can you get your own team up to speed yourself? Are you prepared to hire experts who can fulfill those important roles? A successful reseller isn’t just an order taker. You will be a partner to your customers, and you need to be ready to fill that role.

 Question #3: Do You Understand Your Competition?

Competitive analysis is an important part of any business, but it’s perhaps even more important in the realm of reselling. Customers are turning to you for expertise, so what do you have to offer that other resellers don’t? Understanding your competition can help you measure market demand and find ways to better serve your customers. What are people asking for that they can’t find? How can you fill those roles? Remember that it’s better to do a few things exceptionally well than to provide mediocre service in more areas. It’s almost impossible to be an expert in all areas as a reseller, so determine your strengths and use them to determine your business focus and plans.

Question #4: Do You Have a Business Plan?

Working with the right vendor partner can help your business get off the ground and remain profitable, but you need to develop a business plan. Do you have a pricing strategy? Have you considered the effect on non-billable hours and other costs of doing business? Do you know how you will manage your workload and staff? Considering these factors ahead of time can not only help you secure a partnership agreement, but can prevent unpleasant surprises down the road. Unless you have a plan that considers all aspects of your business, you aren’t ready to become a reseller.

Again, reselling technology equipment is a potentially lucrative business. As with any business, though, you need to ask important questions and assess your own readiness to move forward, so you remain profitable and avoid unnecessary challenges.

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What Makes Your Home Business Attractive?

So that your home business can thrive, what are you doing to attractive new customers?

Some home business owners will turn to as much advertising and marketing as their budgets will allow. In doing so, they can demonstrate the lure of their products and/or services.

Others, meantime, opt for a heavy dose of stellar customer service to win new customers. Show a new customer how much better your service is than the competition’s, allowing you to win them over for years to come.

Knowing what makes your home business attractive is not something you can sleep on. In fact, it should be something you make a priority of.

That said take some time to re-evaluate what truly makes your home business attractive, allowing you to capitalize on that now and in the years to come.

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Truly Understanding Success

So that you can better understand what makes your home business tick, start by re-evaluating the entire process.

Okay, you may think that you do not have the time for such actions, but wouldn’t your business be better off if you did take the time and effort?

To start with, compare you revenue numbers from a year ago at this time.

Are they ahead of where they were last year? Are you essentially about where you were ago? The last and worst scenario, are you behind now from where you were a year ago at this time? Even if you are ahead of where you were at this point in 2015, don’t rest on your laurels. Complacency for any business, especially one that is typically a one-person show and operating with less financial capital than the big boys, can be a recipe for trouble.

In the event your numbers are down from a year ago, determining the reason or reasons for this is not a choice, it is a necessity.

While it could be any number of reasons, one could be your company’s overall organizational skills (or lack thereof them).

Don’t Lack for Website Skills

One area where you do not want to be lacking in organization is your website.

As a home business owner, stop and think for a moment where you would be without a top-notch website.

A solid website should be organized, informative, authoritative, well-promoted, and something that allows you to distance yourself from the immediate competition.

When it comes to organizing the site, how much of your time and effort goes into making sure it looks clean and gives customers (present or potential ones) everything they need at their fingertips.

Some customers may want to use your site to download and order purchase items, something a tradebit or other similar sites can easily provide.

Others may simply want to come to your site to gain more information on the industry with which you are a part of.

No matter the reason, you and your website can’t afford to drop the ball.

Another area of importance is properly promoting your site, especially on social networks.

If you do not already, make sure you display your respective social media icons (the sites you have accounts for) somewhere on the front page of your site. This allows you to demonstrate that you not only have a social media footprint as a home business owner, but that it is also important to you.

Also keep in mind that your website is essentially the best mouthpiece you have as a home business owner.

That said you should always look at your site as a money-making vehicle, along with being informative for consumers.

There are countless home businesses operating nationwide these days, so the opportunities are literally endless for the millions of people involved in these.

Taking the time to really get to know what separates your home business from the competition is more important than you might think.

Always devote some time and energy to making sure your business is not taking anything for granted, along with always looking to improve things.

As any smart home business owner can tell you, he or she didn’t strike it rich overnight.

In many cases, it takes hours and hours of hard work and dedication to turn a decent profit.

Will you be one of those successful home business stories?

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Tips on How to Make Your Own Business a Reality

Many people throughout their lives will have that light-bulb moment, you know the one, when an idea hits you for an innovation or an enterprise that you think could work. The sad truth is that far too many people don’t follow through with their ideas which can lead to regrets later in life or the possibility that someone else will come along with your idea and make it a success. There are many reasons why people won’t indulge their ideas and turn their dream into reality, whether it is fear, a lack of confidence or simply a defeatist attitude that stops them from doing this. If you fall into the bracket of having a fantastic idea and you’re not sure how to follow it through, then here are some tips on how to make your own business a reality.

Don’t Fear Failure

Almost every business or product that has been taken to the market has suffered setbacks along the way, these set backs are not failures, far from it. In fact, set backs are exactly what you need in order to perfect your craft, business or product and in a way, they should be welcomed. The notion of not trying something out in case you fail is one that should be dispelled from your mind, just go for it.

Research and Plan

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65% of start-up business’ fail in their first year, the reasons for this are usually a failure to understand the market and the competition and an overly optimistic financial forecast. Before you even consider heading into the marketplace, it is imperative that you understand your target customers and the competition that you may face. Spending time on this in the beginning is the difference between failure and success. From a financial standpoint, you should always have a full and realistic plan for income and expenditure in the first year, the best approach in year 1 is to be frugal and sensible with how and where you spend your money. Small business loans are a great idea when you are starting out but make sure that you borrow within your means as if you fail to do so then this will bring added pressure to your business.

Make Friends

Creating a community of support around you is one of the most important things you can do for your business, regardless of what field you are entering in to. Whether it be making contacts within advertising or people higher up the food chain than you, if you create these contacts in then beginning then they will pay you dividends in the future. Remember to offer help and support to others if you wish to receive the same thing in return.

Take Advice

You may well think that your idea is the best thing since sliced bread, while this may be true it is important that you never become arrogant in your decision-making. Always seek help and advice from others who either know you well or know the marketplace well. The wisest businessmen and entrepreneurs out there make the best decisions because they seek counsel and you should be no different, even if you are convinced of a certain path or strategy, you should always bounce it off someone first to see if they can see any cracks or holes in your plan.

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