Ten Actions To Take Strategic Advantage Of Business Slowdowns, From Your Strategic Thinking Business Coach
Ten Actions To Take Strategic Advantage Of Business Slowdowns, From Your Strategic Thinking Business Coach
Action #1: Review and analyze your client and customer base to identify who your customers are: the geographic location of your customers; the common traits of your customers; and other demographics of your customers.
Action #2: Define your “Ideal Client and Customer” and document the characteristics of that “Ideal Client and Customer."
Action #3: Review and analyze your service and/or product mix by ranking your services and/or products by gross volume of sales. Use this ranking to review what services and/or products that you should consider dropping.
Action #4: Review and analyze the net profitability of your customer base by ranking your clients and customers by gross sales volume and by net profit. Use this analysis as another tool to consider which services and/or products to drop.
Action #5: Review and analyze your business systems and processes. Improve those systems and processes that need improvement and be sure the systems and processes that work for you are well documented.
Action #6: Review and analyze your client and customer needs: Talk with your clients and customers to determine what needs are not being met, what frustrations they may have in doing business with you, what they would like to see you do differently, and what challenges they face in their business. Then develop an action plan to take strategic advantage of what you learned from your clients and customers.
Action #7: Review and analyze your customer service performance. Identify customer service challenges and issues you need to resolve and develop a plan of action to resolve them.
Action #8: Review and analyze your web site. More and more business is being conducted on the Internet and your web site is a strategic element in your business. Review and analyze the traffic to your web site and make sure the web site is refreshed regularly, is user-friendly and presents compelling reasons to do business with you.
Action #9: Review and analyze your strategic marketing plan and your strategic action plan to determine if any revisions are needed, to do new projections, to determine what is working and what is not working, and how can you spend your marketing resources more strategically.
Action #10: Review and analyze your “strategic value” to your clients and customers. Compare your “strategic value” to: the cost to the clients and customers and the “strategic value” really needed by your clients and customers. Determine if your services and products warrant a continued relationship, if you could add more “strategic value,” and what would your client s and customers be willing to pay for additional “strategic value.” Then develop an action plan to implement warranted changes.
By acting strategically and taking advantage of the slow business time, you will be able to position your business to do more business after the slow down and create more gross sales and higher net profits in the longer term.
Your strategic thinking business coach encourages you to fully realize the benefits of business coaching to strategically lead and manage and proactively respond to change in your business. If you would like to learn more about how a strategic thinking business coach can facilitate and guide you in that endeavor, please contact Glenn Ebersole today through his website at www.businesscoach4u.com or by email at jgecoach@aol.com
Ten Actions To Take Strategic Advantage Of Business Slowdowns From Your Strategic Thinking Business Coach - To learn more about this author, visit Glenn Ebersole's Website.
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One of the realities of business in today’s world is that there will be times that business slow down for a variety of reasons. The traditional reaction to these slowdowns is to run some major sales, which cut prices to gain more business. I believe that by using some strategic thinking in these slowdowns, you can look at doing things that will build your business in the long term – the things you talk about doing but never do because of not having time to do them. Well, here is an opportunity to take a strategic advantage of the time you have during a slow down in business. Your Strategic Thinking Business Coach offers ten (10) actions so you can gain this strategic advantage.
Action #1: Review and analyze your client and customer base to identify who your customers are: the geographic location of your customers; the common traits of your customers; and other demographics of your customers.
Action #2: Define your “Ideal Client and Customer” and document the characteristics of that “Ideal Client and Customer."
Action #3: Review and analyze your service and/or product mix by ranking your services and/or products by gross volume of sales. Use this ranking to review what services and/or products that you should consider dropping.
Action #4: Review and analyze the net profitability of your customer base by ranking your clients and customers by gross sales volume and by net profit. Use this analysis as another tool to consider which services and/or products to drop.
Action #5: Review and analyze your business systems and processes. Improve those systems and processes that need improvement and be sure the systems and processes that work for you are well documented.
Action #6: Review and analyze your client and customer needs: Talk with your clients and customers to determine what needs are not being met, what frustrations they may have in doing business with you, what they would like to see you do differently, and what challenges they face in their business. Then develop an action plan to take strategic advantage of what you learned from your clients and customers.
Action #7: Review and analyze your customer service performance. Identify customer service challenges and issues you need to resolve and develop a plan of action to resolve them.
Action #8: Review and analyze your web site. More and more business is being conducted on the Internet and your web site is a strategic element in your business. Review and analyze the traffic to your web site and make sure the web site is refreshed regularly, is user-friendly and presents compelling reasons to do business with you.
Action #9: Review and analyze your strategic marketing plan and your strategic action plan to determine if any revisions are needed, to do new projections, to determine what is working and what is not working, and how can you spend your marketing resources more strategically.
Action #10: Review and analyze your “strategic value” to your clients and customers. Compare your “strategic value” to: the cost to the clients and customers and the “strategic value” really needed by your clients and customers. Determine if your services and products warrant a continued relationship, if you could add more “strategic value,” and what would your client s and customers be willing to pay for additional “strategic value.” Then develop an action plan to implement warranted changes.
By acting strategically and taking advantage of the slow business time, you will be able to position your business to do more business after the slow down and create more gross sales and higher net profits in the longer term.
Your strategic thinking business coach encourages you to fully realize the benefits of business coaching to strategically lead and manage and proactively respond to change in your business. If you would like to learn more about how a strategic thinking business coach can facilitate and guide you in that endeavor, please contact Glenn Ebersole today through his website at www.businesscoach4u.com or by email at jgecoach@aol.com
Ten Actions To Take Strategic Advantage Of Business Slowdowns From Your Strategic Thinking Business Coach - To learn more about this author, visit Glenn Ebersole's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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