What Is "B2B"?
"B2B" - means that you are selling a product or service to other businesses.
A few examples of "B2B" product based companies would be:
Ex 1: Selling CRM Software "Customer relationship management" to organizations so they can keep track of their sales leads, manage their sales cycles and determine a cold-calling schedule.
Ex 2: Selling office equipment to companies who wish to upgrade their existing furniture.
Ex 3: Selling security and access control hardware and systems to building management companies, universities and municipalities.
Looking Further Into "B2B" Product-Based Companies
Why do I recommend that the first time entrepreneur shy away from "B2B" product based companies?
Product based companies are typically not as fast moving as service-based companies meaning that the entrepreneur cannot change their offering in accordance with the clients' needs as quickly as they could with a "B2B" service-based company. Also, upon meeting a prospective client, the entrepreneur may see profitability in selling another solution into the company, but being able to offer a new product that quickly can prove to be quite taxing and quite expensive, especially when money is tied up elsewhere.
"B2B" - means that you are selling a product or service to other businesses.
A few examples of "B2B" product based companies would be:
Ex 1: Selling CRM Software "Customer relationship management" to organizations so they can keep track of their sales leads, manage their sales cycles and determine a cold-calling schedule.
Ex 2: Selling office equipment to companies who wish to upgrade their existing furniture.
Ex 3: Selling security and access control hardware and systems to building management companies, universities and municipalities.
Looking Further Into "B2B" Product-Based Companies
Why do I recommend that the first time entrepreneur shy away from "B2B" product based companies?
Product based companies are typically not as fast moving as service-based companies meaning that the entrepreneur cannot change their offering in accordance with the clients' needs as quickly as they could with a "B2B" service-based company. Also, upon meeting a prospective client, the entrepreneur may see profitability in selling another solution into the company, but being able to offer a new product that quickly can prove to be quite taxing and quite expensive, especially when money is tied up elsewhere.