Turnkey refers to something that is ready for immediate use, generally used in the sale or supply of goods or services. The word is a reference to the fact that the customer, upon receiving the product, just needs to turn the ignition key to make it operational, or that the key just needs to be turned over to the customer. Turnkey is commonly used in the construction industry, for instance, in which it refers to bundling of materials and labour by the home builder or general contractor to complete the home without owner involvement. The word is often used to describe a home built on the developer's land with the developer's financing ready for the customer to move in. If a contractor builds a "turnkey home" it frames the structure and finish the interior; everything is completed down to the cabinets and carpet. Turnkey is also commonly used in motorsports to describe a car being sold with powertrain (engine, transmission, etc.) to contrast with a vehicle sold without one so that other components may be re-used.
Because lead generation is the first step in the sales process, both quality and quantity are important factors. Quality leads are leads that a salesperson has a good chance of closing, which means they must at least have the potential to become customers. Every lead list will have a number of junk leads – people who are not qualified to buy the product for some reason – but the smaller the percentage of bad leads, the less time salespeople will waste while processing that list. Quantity is also important because even a salesperson with a list of 100% good leads won't be able to close every one of them. A salesperson with 100 good leads might be able to make 10 appointments, out of which 4 will close the sale. Therefore, if a salesperson has a quota of 40 sales per month, she will need 1000 good leads per month just to make the minimum required number of sales.
The business plan should cover the company's goals in the short- and long-term, its target audience, selling proposition, competitive advantage, organizational structure and marketing strategy. Include financial statements and consider your capital requirements. If you need funding to expand your operations, buy new equipment or update your inventory, determine whether you'll reach out to investors to take out a small business loan.
How do you do that? You need to create interest by offering a relevant mix of informative and entertaining content that builds a meaningful relationship with your audience. And you have to make sure that you are distributing your content through all the right channels – where your buyer spends time. This section goes into a bit more detail on some of the common tactics for inbound lead generation.
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When you launch a new business, you must register it with the state, obtain licenses and permits, check what you can and cannot do, purchase equipment and more. Start-up legislation can be mind-wrecking, especially in the healthcare, construction and manufacturing industries. Things are even more challenging for those who are just starting out and have little experience running a company. If that's your case, consider purchasing a turnkey business.