Entrepreneurs - Want To Grow Your Company?
Entrepreneurs - Want To Grow Your Company?
Well there are four activities that will pay dividends in the future.
1. Customer Base:
The Pareto’s Theory seems to work with customers, in that you will find that 20% of your customers are probably your high spending and loyal customers. Go through your customer list and do the following:
• Identify the high spending customers and offer them loyalty bonuses or better terms in order to maintain their custom.
• Identify the regular purchasers and incentivise them to buy more per transaction with activities such as up selling.
• Identify your poor customers and work on turning them into better or more often customers.
• Identify your bad customers or those that are more trouble than they are worth and work to remove them.
Keep in regular contact with your customers and work on increasing their spend and maintaining their loyalty.
2. Fine Tune Your Company:
Look at all your business processes such as customer handling, invoicing, debt collection and fulfilment and make the appropriate changes to make them more efficient. Talk to your staff who can often offer good ideas. Find tuning your company will make you more efficient, prepare you for your business expansion and often leads to a quicker turnover and more profit.
3. Exploit Your Market Position to Gain Market Share:
Review where your business stands in the market and use this knowledge to:
• Gain market share by encouraging your competitors’ customers to move to your company by being better quality/cheaper/better value/easier/friendlier etc.
• Exploit your market position in order to expand your customer base.
• Seek new markets by spotting new trends and opportunities.
• Invade adjacent markets by fine tuning your products, marketing and advertising.
4. Develop New Products and Markets:
Now you have fine tuned your company, understand your customers and your market, now is the time to review your product line as well. Decide as to whether you can add to your product line or tweek your existing products or services in order to meet other markets or increase your customer spend. Good Luck.
Entrepreneurs Want To Grow Your Company - To learn more about this author, visit 's Website.
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You’ve got your company set up and the first scramble to get everything working ok and your cash flow positive has paid off. Now you need to grow your company – so how do you do this?
Well there are four activities that will pay dividends in the future.
1. Customer Base:
The Pareto’s Theory seems to work with customers, in that you will find that 20% of your customers are probably your high spending and loyal customers. Go through your customer list and do the following:
• Identify the high spending customers and offer them loyalty bonuses or better terms in order to maintain their custom.
• Identify the regular purchasers and incentivise them to buy more per transaction with activities such as up selling.
• Identify your poor customers and work on turning them into better or more often customers.
• Identify your bad customers or those that are more trouble than they are worth and work to remove them.
Keep in regular contact with your customers and work on increasing their spend and maintaining their loyalty.
2. Fine Tune Your Company:
Look at all your business processes such as customer handling, invoicing, debt collection and fulfilment and make the appropriate changes to make them more efficient. Talk to your staff who can often offer good ideas. Find tuning your company will make you more efficient, prepare you for your business expansion and often leads to a quicker turnover and more profit.
3. Exploit Your Market Position to Gain Market Share:
Review where your business stands in the market and use this knowledge to:
• Gain market share by encouraging your competitors’ customers to move to your company by being better quality/cheaper/better value/easier/friendlier etc.
• Exploit your market position in order to expand your customer base.
• Seek new markets by spotting new trends and opportunities.
• Invade adjacent markets by fine tuning your products, marketing and advertising.
4. Develop New Products and Markets:
Now you have fine tuned your company, understand your customers and your market, now is the time to review your product line as well. Decide as to whether you can add to your product line or tweek your existing products or services in order to meet other markets or increase your customer spend. Good Luck.
Entrepreneurs Want To Grow Your Company - To learn more about this author, visit 's Website.
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power'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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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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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva'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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