Lesson 2.1: Reading - Advice on choosing a product or service to sell

Choosing the right product or service to sell 

  

Are you ready to break into a new market? Do you want to be the most successful? Read this article and find out the top tips when deciding what product or service you should sell. You have to make some very difficult decisions when you first start planning what you want to sell. You need to know:

1. Who is your market 

2. What is your budget 

3. Who is your competition 

4. What can make you different 

Every product you can think of already exists so what can you stand out from the crowd? The answer is you have to take risks if you want to succeed. Many companies make a loss in the first six months so be ready to pay a lot of bills before you make some money. However, after this period successful businesses usually start to make a profit and can reinvest their money into their product or design new ones. 

Another important point to draw your attention to is the importance of negotiating with your suppliers. You usually have a tight budget when you start so make sure you reach an agreement and close the deal. Both of you have to be happy. It’s essential to like the people you do business with otherwise it will end badly. You have to know how to deal with your clients and treat them with respect. 

Therefore, the key to a successful product isn’t just the idea. You must have a good relationship with your business partners and plan very carefully too. 

Reading Comprehension - Choosing the right product or service to sell

Quiz

Read the the article above and then answer the following questions.

 

1. What is the article about?
   1.   Choosing the right product or service to sell.
   2.   Choosing the right products or service to buy.
   3.   Advice on how to sell products to the USA.
2. What are the four difficult decisions we make when deciding on a product?
   1.   Who is your market, what is your budget, who is your competition and who is your boss
   2.   Who is your market, what is your budget, who is your competition and what can make you different
   3.   Who is your business partner, what is your budget, who is your competition and what is the product price
3. What's another way to say "Be different"?
   1.   Succeed
   2.   Exist
   3.   Stand out
4. What usually happens in the first six months of business?
   1.   You make a loss
   2.   You make a profit
   3.   You spend too much money
5. Who should you negotiate with?
   1.   Your partners
   2.   Your suppliers
   3.   Your family
6. What happens after you reach an agreement?
   1.   You sell lots of products
   2.   You make lots of money
   3.   You close the deal
7. What's the key to a successful product?
   1.   A good idea
   2.   A good relationship with your business partners and a good plan
   3.   A good idea and a good relationship with your business partners and a good plan