Need Business Advice

Discussion in 'Growing and Managing a Business' started by Baljeet Singh, Dec 30, 2012.

  1. Baljeet Singh

    Baljeet Singh
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    Hi there

    I have a heavy vehicle fabrication unit at India. I manufacture Tipping Trailers, Box Trailers, Buses and Truck Body. I have staff who are expert in blacksmith work such as Denting, Welding and Gas Cutting. I also have staff who are expert in Wood works. As my line of business is facing tough competition, I want to open a new line of work in which I can make use of my existing staff.

    Kindly suggest me the other line of opportunities where I could work with my existing staff.
     
  2. Fergal

    Fergal
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    Welcome to Business Advice Forum Baljeet, thanks for joining and posting your business questions.

    Have you looked at possible new markets for your products. For example could you export your trailers to Europe?
     
  3. jcworlditsme

    jcworlditsme
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    This may sound obvious, but are you currently using the Internet to advertise your products, i.e. selling products online.
     
  4. Abbey

    Abbey
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    You have to use internet facility for searching new business world, also offer products to the other countries users.
    By this you can got lot of handsome profit with the existing working staff also might be increased business relationships.
     
  5. 2misi.com

    2misi.com
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    You may operate your business through online channel if you don’t have any business location.
    That’s the beautiful world of online business.
    Save cost and make impact to the world.
     
  6. Tracydcarrow

    Tracydcarrow
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    Understanding the laws that affect you is an important part of running a successful business. This section is a quick guide to the main rules covering how you sell, how you treat your customers, how you compete, and how you can protect your business from scams.
     
  7. Michail98

    Michail98
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    Baljeet,

    Many small business owners are asking this same type of question, given the state of the global economy. Realistic speaking it’s tough to answer your question without knowing the broad scope of your business model. As other members have suggested, marketing your products to a global market is always a good ideal; however, the cost associated with marketing to a global market is more than many small businesses can relinquish.

    Nevertheless, all is not lost; focus on adding to a current product that your company is offering by fulfilling the need of the end use (Consumers who purchase your product). What do I mean? Let me try and give you the short versions, as this is a complex topic. What I’m talking about is call product differentiation. As with all small businesses you have competition in your market among other manufactures selling similar products as your company. Take a look at the market and find a similar product to yours, use that to help you improve your product.

    How to apply it; in your question, one of the products you talked about was a Tipping Trailers. Now there are two steps to this ideology; first talk to consumers that have purchased your trailer, ask them what changes would make the trailer better. What you’ll find in asking this question is, some of the suggestions are just not feasible to your trailer; on the other hand, you may find a suggest that is relevant to your trailer design which can be implemented to make your trailer superior to your competition.

    The second step, evaluate a tipping trailer from your competition. When doing this evaluation, you must be honest with your assessment and view the trailer as if you are a customer. In doing so, you’ll find features with your design that are better than your competition; nevertheless, your attention needs to be on what characteristic of their design is superior to your trailer. If you are completely honest with the assessment you‘ll find ideas which will improve your trailer design, making it more desirable vise your competition. Making this assessment can be challenging; as a result, many business owners will outsource this undertaking to ensure a biases assessment.

    All business owners are face with product development and/or improvements during the life cycle of their business. If you are honest in your assessments you’ll find ways to improve or even develop a new product which helps grow your business, and keep your employees working even in a struggling economy.....hope this helps
     
    #7 Michail98, Jan 4, 2013
    Last edited: Jan 4, 2013

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