The 4 Ms of Business

Lewis Henry defines business as “Human activity directed towards producing or acquiring wealth through buying or selling of goods”.

In order to run a profitable business, one has to learn selling skills and beyond. Mr. Ashish Jasani of Malaysia pointed out to me the “4 Ms of Business” and I always thought that if we master these 4 traits, we master our business.  

In order to be thorough in any business, small or big, learning these Ms, will give you a guideline to succeed.

1. Meet : You have to always meet your customer/prospect for the first time. The expertise to break the ice and learn his need is the key to starting the business. If/when he is ready to know more about your products/service, make an appointment.  

Learn the skills of “Natural Approach”

2. Meeting :  After making your appointment, prepare your presentation as per your customer/prospect’s needs. Try to present your products/service in less than 40 minutes and leave the rest to Q&A.                                                             

Learn the skills of natural presentation and objection handling.

3. Multiply : Bottom line, business should grow. The simplest way to multiply is to duplicate what you have done. Direct Marketing or network marketing is one of the best ways to distribute the products/service and teaching the same of what you have done to others.

Learn the skills of duplication.

4. Manage : In any business or organization, management plays a pivotal role. You may have 10, 100 or even 1000 customers/distributors, the way you manage them is the way you direct your business, towards success or failure. 

Learn management skills. 

All the above 4 skills take time, effort and money. Invest in yourself and your business will grow.

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