They used to say, “Know who is more important than know how!”
|Sometimes having the right connections can help get you the contract.|
- When the product or service that you are supplying is perceived to be commoditized, or homogeneous, without any perceived advantage over your competitors;
- When there is a selection (screening) process for the product or service that you want to supply;
- When the ultimate decision to purchase lies in the hand of selected individuals, who may be swayed to your favour;
- When your product or service is perceived to be inferior to the competition (and you couldn’t stand a chance of making it otherwise);
- When you are in the business of getting business to pass it on to someone else to do;
- When you are lobbying to an organization that is less than impartial;
- When there are too many options in the market to the extent that making decisions becomes difficult, due to the bewildering array of choices;
- When the client has very little knowledge of the industry leaders, and is still learning about the best products or services;
- When the client prefers products or services that have been backed by recommendation from someone they trust (effectively extending that trust to you); and
- When the decision maker is normally inaccessible, except through mutual friends that he respects.
|Unlike head knowledge, know how sometimes requires you to be trained. You can’t pick this stuff up from books!|
The importance of know how.
How Know How can be passed on.
Know how helps family businesses to have an edge.
- The founder possessing the specialized knowledge and not willing to pass it on;
- The founder passing on the business to his children, but passing on his skill and know how to only one heir;
- The children have all acquired the skills and know how of the founder, but due to disagreement, the children leave the family business to start their own; and
- The children do not have interest in learning the traditional business and the founder passes away or becomes unable to teach it.
That’s why some companies have confidentiality agreements.
|Some words of wisdom from Mr Mark Twain. The essence of his message is to simply get started. Start today.|
Thanks for Reading.
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