Archive for November, 2009

ScreenHunter_01 Nov. 15 11.22

Operating a business in Quebec means sometimes having to write documents in both English and French.  Since most people are usually native speakers in only one language (in my case, English), writing in their second language can sometimes be problematic.  I usually have friends double check my French documents (e.g. emails) before sending them out.  However, this whole review process can be time consuming.

Enter a new feature from Google Docs.  At the click of a button, you can translate your text into your choice of 42 languages.  All have to do is select the text in your Google document, click ‘Translate Document’ and then select your language.

I haven’t tried all 42 languages, but I can definitely vouch for the English to French and French to English translators. I remember how not too long ago, the quality of online translators was extremely poor, sometimes even comical.  Since then, however, there has been some major improvements.

I still wouldn’t rely on this tool as my sole translator.  In other words, it is still necessary for a native speaker to proofread the translation.  However, it is much better than starting a translation from scratch. From my experience, It also reduces the time needed for proofreading by at least 50%.

A thumbs up once again to Google for thinking of another cool way to make our lives easier.

I had my first meeting with my mentor about a week ago and one of the first questions he asked me was: “What is your unique value proposition?”  This was a new concept for me.  I started talking about some of the great features of my product (language training):  English for the professional setting, fast results, money back guarantee, etc.  However, as my mentor explained, a value proposition is more than a description of features.  It is a clear statement of the tangible results a customer gets from using your product or service.  It answers the key question that every customer asks:  “Why should I buy from you?”  A strong value proposition will set you apart from the competition.  In fact, your goal should be to communicate so much value that your prospect will no longer feel the need to go elsewhere.

Every company needs a strong UVP.  Benefits include greater differentiation from competitors, an increase in the quantity and quality of leads, and greater market share.  Once again, remember to include tangible results in your UVP.  Statements like “the most technologically advanced system in the market” and “best in its class” don’t mean much in today’s world.  Every other company uses a similar statement and there is no way of knowing who is telling the truth and who isn’t. Ask yourself:  “What makes me different from everyone else?”, “What need am I satisfying for my target market that others have not addressed?”  You can also ask your existing clients.  Their perspectives on why they do business with you might point you in the right direction.  The following is an example of a great value proposition:

“Our company is the exclusive provider of patent-pending project management software for paving contractors, saving U.S. contractors over $34M in 2005.”

The statement is specific.  It sets the company apart (exclusive provider, patent-pending software) and it demonstrates tangible results ($34M in savings in 2005).  It answers the questions who, what, and why all in one sentence.  Here are a few other good ones:

“Tectronica offers solutions that will improve productivity by 22%.”

“Our clients are able to reduce staff by 18% and maintain productivity levels.  In most cases, their productivity actually increases.”

“Our clients have experienced pay back periods of just nine months when investing in our technology.”

Negotiation

I attended a great workshop at YES Montreal a few months back on negotiation, an important skill for a small business owner.  It’s a skill we can put it to use in many different situations from our dealings with suppliers and customers to exchanges with our employees.

A key part of the negotiation process is preparation and the side that is best prepared normally has the upper hand.  This includes having a clear list of your objectives and the areas that you are willing to compromise.  It also means researching your adversary, their objectives and the underlying rationale.  The more information you have, the better.  The icing on the cake is to anticipate potential areas of disagreement and having alternative solutions ready. Read more »