Knowing Your Products and Services

Guest post by: Edward Abel
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Are Your Goals SMART? - By Edward Abel

Your products or services are the heart and soul of your business; without them, your business cannot exist. Much like the human body, a healthy heart is imperative to a healthy body. Although there are other organs and appendages that carry out the body’s functions, none of those can be completed without a functional, intact heart. As the business owner, you must become in tune with every facet of your business. Let’s apply this to your business:

Strategic customer service, brilliant marketing, nor effective human resources can overcompensate for mediocre products or services; when a business’s products or services are of the highest quality, the task of building a functional, productive business around those products or services is an achievable one. You must be able to create functional supports around your product or service so that you can deliver them; in essence, your business’s products or services are its foundation – they are why you went into business in the first place. How well do you know your products and services?

How comfortable are you with speaking about your products and services? Could you present an impromptu presentation on your products and services, clearly articulating to your customers the benefi ts that they will receive? Do you understand the pricing? Are you able to differentiate your products or services from those of your competitors?

If you had some difficulty in answering any of the above questions, do not be alarmed. Many businesses struggle with being able to truly understand their products or services – most seldom do. However, by becoming introspective and really doing some investigative work, you can improve your professional level of confidence and comfort.

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Are Your Goals SMART? - By Edward Abel

About the Author: Edward Abel

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Ed Abel has invested more than three decades learning how to build a successful, thriving business. At age 24 with a $5,000 loan and the energy and passion of a young entrepreneur, Ed was ready to take on the world. And he did, only to emerge seven years later at the top of a $36 million organization with 585 employees. Inspired by the challenges that led him to success, Ed went on to build other multi-million dollar businesses, yet he missed the passion he experienced "in the trenches" of his formative years.
Determined to find a way to educate and advise others in the construction and sustainability of a vital business, he founded ABEL Business Institute. Over the course of this process, he developed The SkillPreneur Business System, a systematic approach to the construction, maintenance, and growth of a business's--an approach that has become the philosophy and methodology of ABEL Business Institute.

Ed is an adjunct professor of entrepreneurial studies at New York University (NYU) as well as the Director of the business division at the world class Institute for Professional Excellence in Coaching (iPEC). At iPEC, Ed directs the business division that is responsible for supporting the graduate coaches in their business development process.

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