Grow your business!
Grow your business!
However, there are likely to be peaks where everyone is stretched to the absolute limit to meet the demands existing customers. Then there are troughs with the accompanying bursts of prospecting activity, when any business seems attractive (even if it’s not particularly profitable), just to keep some cash flowing in.
Most small businesses go through this stage and find that the seesaw effect doesn’t right itself until someone firmly takes responsibility for long term planning and growth as well as the day-to-day running of the business.
Part of that entails having a scaleable prospecting routine that works for the company.
Every business should be actively seeking new custom unless it’s deliberately winding the company down or is so well known that potential customers regularly approach it. Even those that have so much profitable work via referrals, reputation and word of mouth, both currently and lined up well into the foreseeable future should be looking to expand the workforce to take on more business of a similar calibre if they’re serious about growing the business.
You, like most companies, may need to undertake prospecting activities just to stand still. One reason for this is that there will be times when you lose business through no fault of your own.
Think about it:
· A project you've geared up resources to work on progresses so far then gets indefinitely halted
· A contract that you've had for several years suddenly isn't renewed
· A competitor comes up with a superior or cheaper alternative
· The list is potentially endless
How well placed is your business to weather one or more of these hits? We are all familiar with Vilfredo Pareto's principle: Applied in this case it's that 80% of business comes from 20% of customers. If your customer base is small, that means you are relying on less than a handful for the majority of your income, and you are very vulnerable.
Is your prospecting activity like a well-oiled machine that you can rev up or slow down according to the needs of the business at any given time? Or is it more like a knee jerk reaction to external influences and events?
If you wait until you can no longer sustain your current level of business before you start prospecting for more, you will suffer - because it takes time to identify, contact, qualify, sell to, close, deliver to, and get paid by new customers.
You need a plan, a scaleable routine and an approach that works for your company, in your industry and your marketplace. And you need bring your research, contact marketing and sales skills together to enable you to:
· Accurately 'read' what your market wants and
· Convincingly communicate how your offer meets those requirements better than any of your competitors'
Happy and successful hunting!
Grow your business - To learn more about this author, visit Linda Mattacks's Website.
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Many businesses start out with the founders breaking away from a larger company and taking some clients with them. If they’re good at what they do they’ll be able to grow the business to a certain extent in the first few years by word of mouth and recommendation.
However, there are likely to be peaks where everyone is stretched to the absolute limit to meet the demands existing customers. Then there are troughs with the accompanying bursts of prospecting activity, when any business seems attractive (even if it’s not particularly profitable), just to keep some cash flowing in.
Most small businesses go through this stage and find that the seesaw effect doesn’t right itself until someone firmly takes responsibility for long term planning and growth as well as the day-to-day running of the business.
Part of that entails having a scaleable prospecting routine that works for the company.
Every business should be actively seeking new custom unless it’s deliberately winding the company down or is so well known that potential customers regularly approach it. Even those that have so much profitable work via referrals, reputation and word of mouth, both currently and lined up well into the foreseeable future should be looking to expand the workforce to take on more business of a similar calibre if they’re serious about growing the business.
You, like most companies, may need to undertake prospecting activities just to stand still. One reason for this is that there will be times when you lose business through no fault of your own.
Think about it:
· A project you've geared up resources to work on progresses so far then gets indefinitely halted
· A contract that you've had for several years suddenly isn't renewed
· A competitor comes up with a superior or cheaper alternative
· The list is potentially endless
How well placed is your business to weather one or more of these hits? We are all familiar with Vilfredo Pareto's principle: Applied in this case it's that 80% of business comes from 20% of customers. If your customer base is small, that means you are relying on less than a handful for the majority of your income, and you are very vulnerable.
Is your prospecting activity like a well-oiled machine that you can rev up or slow down according to the needs of the business at any given time? Or is it more like a knee jerk reaction to external influences and events?
If you wait until you can no longer sustain your current level of business before you start prospecting for more, you will suffer - because it takes time to identify, contact, qualify, sell to, close, deliver to, and get paid by new customers.
You need a plan, a scaleable routine and an approach that works for your company, in your industry and your marketplace. And you need bring your research, contact marketing and sales skills together to enable you to:
· Accurately 'read' what your market wants and
· Convincingly communicate how your offer meets those requirements better than any of your competitors'
Happy and successful hunting!
Grow your business - To learn more about this author, visit Linda Mattacks's Website.
Like this article? Share it with your friends
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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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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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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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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster'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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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith'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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