Selling Strategies
for Success
By Tony Cook
The term "entrepreneur" could be defined by the professional life of Marc Kramer, a 1982 WVU graduate who majored in journalism. In fact, Inc. magazine named him Entrepreneur of the Year in recognition of his energetic involvement in business activities.
Kramer,
president of Kramer Communications in Downingtown, Pennsylvania,
runs a business that provides Internet marketing, business plan
development, and corporate communications services. He is a former
partner at USWeb, the world's largest Internet consulting firm,
and was president of Mixed Media Works, an interactive company
that produced web sites for CoreStates Bank, among others.
Prior to that, he created the Eastern Technology Council, which has over 1,000 corporate members. He also launched and ran Technology Times, the second-largest business technology newspaper in the country, and the Pennsylvania Private Investors Group, the nation's first formally organized "investor angels" network.
Kramer has been quoted or featured in The Wall Street Journal, Fortune, Success, and Profit. He writes about his interests for magazines and newspapers, and is the author of four books on business development and Internet marketing. The most recent are Financing and Building an E-Commerce Company (Prentice Hall), and Web Sites Built to Last (Adams Media), both published in 2001.
Kramer shares his knowledge and tips with his fellow WVU alumni in the following Q&A:
Given the economy's poor performance in recent months, is there room for an entrepreneur to thrive, especially in an e-venture?
I believe that people can only count on themselves to make a living. When the going gets rough, companies abandon their employees. People have to remember that the Internet is a tool like the fax machine, except it is the most powerful marketing and sales tool ever created. Entrepreneurs who use it have to be disciplined in running their businesses, and venture capitalists have to be patient and have realistic expectations.
What are the best on-line business opportunities right now?
I can tell you what I believe best uses the Internet to create new business, improve business service, and reduce the cost of customer acquisition:
Books—Books will always sell well over the Internet because they are a commodity and most bookstores don't carry as many as you can find on-line.
Loans—Who wants to fill out multiple applications for loans, and what lender doesn't want deal flow? In the case of business loans, the bank still needs to meet the customer in person, but it does level the playing field between banks.
Discounted/used goods—Although Half.com and eBay have developed great brand names, there is room for other vendors, especially ones that can partner with publications. Publications have built-in audiences and can promote a site to the appropriate group.
Office products and services—This will continue to grow, and I believe local supply houses can participate in this space because they have a trusted name in their community.
Banking—I have found on-line banking to be a tremendous time-saver for paying bills and depositing money. I can't understand why anyone would want to stand in line to speak to a teller.
Many people have left secure jobs to double their salaries at a dot-com and are now out of work. What should people look for when considering a move to the dot-com arena?
Anyone looking at working for any company should decide if they like what the business does. Does it motivate them? If the answer is yes, then they should look at the business model. You have to evaluate whether the business has the upside and has good leadership. Dot-com companies need to promote the fact that the Internet still has tremendous potential.
The bottom line is that new dot-coms have to prove to potential employees that they have a product or service people want, and that the company leadership has the ability to build a profitable company.
For more insights from Marc Kramer, visit www.kramercommunications.com.