Staying Competitive

In the Secondary Market

by DreamWorld

The

American Dream has always been about freedom. The freedom to choose. The freedom to do what you want. The freedom to have your own opinion. In most cases, this freedom is derived from having your own business. Being an Entrepreneur is an expression of one's freedom. You get innovative. You deal with people the way you think is best. You market and sell at prices you think are best. Entrepreneurship has evolved over the years. Of course, some aspects remain the same. Dedication, hard work and creativity still count if you want to be a successful entrepreneur. It is the Internet and computers that have changed entrepreneurship. Innovation is built into IT. This constant change in the business landscape has created opportunities for large established businesses as well as small startups. In reality the internet creates a level playing fi eld for all competitors. So success is not about "who controls the distribution channels? any more. It's about who has the best ideas, the best service and is the quickest to integrate new ideas. The internet also gives the entrepreneur a chance to get in touch with millions of potential customers. Platforms like PowerSource Online have created immense opportunities for startups. Business exists not only for people looking to buy, but also for people looking to sell. PowerSource Online provides suppliers easy access to thousands of buyers looking for the exact item the supplier stocks. It gives them a channel to market and sell their product without any heavy investment in infrastructure. The success stories on PowerSource Online are limitless. Everyone has a unique story of how they started off and Harvey Lamberson is no different. Lamberson owns and operates TopSalesToo (www.topsalestoo.com). Like many other entrepreneurs, he started off from home. His fi rst transaction was on eBay, where he paid fi ve hundred dollars for one hundred pieces of memory. Then, he went right back and sold each memory individually for fi fteen dollars. That was two years ago. Lamberson now has his own setup in Sunland, California, and is a reseller of computer and printer parts, accessories and peripherals. His company has grown to four employees. He conducts a lot of business on PowerSource Online and is growing his business fast. When asked about what it takes to be an entrepreneur and succeed, Lamberson responds quickly: "Determination.? Certainly, a specifi c level of skill in your trade is also required. Lamberson, for instance, is A+ certifi ed "for every computer ever made!? He also spent 10 years sourcing IT parts for a large company in their purchasing department. This was actually where he fi rst experienced PowerSource Online, from the buyer side. "Things worked out great? with the service and eventually he became a seller himself. He knew, from personal experience, what the buyer expected, so he does exactly that now; delivers customer satisfaction. For new entrepreneurs this is an absolute must. As a new business owner, you must learn to satisfy the customer completely. That is a great way to get your customers coming back. According to Lamberson, "It's not about the cheapest price; just a competitive price. Back it up with service. Make sure the customer is satisfi ed.? Once you start off and have a few satisfi ed customers under your belt, you will start getting more orders. Entrepreneurs experience new problems as they grow, like hiring and time management issues. Lamberson works "11 hours a day, 6 days a week.? He loves his work and enjoys dealing with customers. His passion is what drives him. Any entrepreneur must be passion driven. If you feel strongly about your business, your customer or your product, you stand a good chance of surviving. Throughout all this, "maintain a competitive price.? A lot of startups make the mistake of over charging when they begin to expand. In order to cover expenses, new entrepreneurs charge more. In the secondary computer market, profi t margins are smaller, and this is consistent for all the players. Increasing prices may increase the profi t margin, but will most likely reduce customer satisfaction. The competitive edge that smaller, more nimble, entrepreneurial fi rms have over larger, more rigid, fi rms is agility. You, as an entrepreneur, can easily maneuver and meet customer demands. Lamberson looks down at his work desk and points out the order he is working on right now. It is for a customer in France who requires her shipment by tomorrow, which happens to be a Saturday. Lamberson plans on having her order ready and delivered in time. He asks, "Can a larger fi rm do this?? PowerSource Online has provided a platform from which entrepreneurs can safely do business. The incredible number of success stories is overwhelming. All of these stories have similar ingredients though: dedication, passion and creativity. |PSO| June 2008 | PowerSourceOnline.com 53

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