|
Growing Your Business in a Tight Economy
 Tip #1- Keep Your Eye on the Ball.
Develop a strategy for your business that allows you to set realistic goals - and to support those goals with cost-effective marketing and communications strategies. We have all heard the adages, "If you fail to plan, you plan to fail" and "It is better to attempt great things and fail than to attempt nothing at all and succeed." These statements reinforce the importance of knowing where your business is going - to plan for the future. Take the opportunity to step back from the day-to-day operations of your business and reassess what has made you successful to date. Analyze your business by taking an in-depth look at your previous year's revenue. How does your revenue compare to past years? From where did your revenue come? What services are most profitable for you? What industries are you serving?
Tip #2 - Know the Criteria for Your "Ideal" Client.
When building a services business it is important to attract the right kind of clients - not just clients with a willingness to pay your fees. Think for a moment about your very best clients. Now think of clients you wish you weren't working with. Create a list of attributes of your best clients. What characteristics do they have in common? How were they attracted to you? Why do you like working with them over other clients? Make it a goal to grow your business by selectively adding clients you know are a good fit.
Tip # 3 - Know How You Got Here in the First Place.
What made you successful when you started your business or went into practice? If you woke up tomorrow and had no clients, what would you do first? Now is the time to refocus your efforts on what has worked for you in the past. Your future success is dependent upon being able to replicate what made you successful when you started your practice or business.
Tip #4 - Target Your Audience and Your Message.
It is highly likely your marketing strategy will be focused toward a number of target audiences - prospective client groups, referral sources, industry sectors. Make sure your messages are uniquely targeted to the audiences you seek to reach and that you are responsive to the needs of each group.
Tip #5 - Show Them, Don't Tell Them!
Clients want to see you have done what they need. Focus on providing representative examples of your expertise. Don't just create a list of services - show prospective clients that you have the breadth and depth required to work with them based largely on your past experience. Create case studies of your best work that summarize each client's situation, your approach to the problem, and the solution. Results sell!
Tip #6 - Focus on Relationship Building.
If you are in a service business, the vast majority of your clients have likely come from referrals. Past clients, other professionals, industry associations, friends, family, and business associates have all contributed to your current success. Make a list of everyone you want to reconnect with and promise yourself that you will call a few people each week - just say "hello," check in, and see how they are doing. Meet for breakfast, coffee, or lunch. Staying connected to the great people you have met throughout your career will lead to opportunities you may never have imagined.
To continue reading, click here |
