- Posted by vividano
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It’s true. Never have times been so tough for owners of small businesses. But as the saying goes, “when the times get tough the tough get going”. Or rather thinking and then acting. Business growth must be a primary objective, especially in hard times.
Whatever line of business we as individual business owners and managers are in, there is a common thread connecting us all. It is our clients’, or customers, if you prefer. Another old adage has it that “the Customer is king”, and in fact this is the clue to the solution to slow growth. First ensure you don’t let clients go – look to “up” your service game. Strengthen your client relationships, especially with those who account for the majority of your revenue and profit. Second, clients have needs that maybe other services or products you supply can meet. Here’s an idea. Compose a chart with each client by name on the y axis, and each of your products and/or services on the x axis. Then tick the boxes showing which clients and products you already supply. You may be surprised at the gaps. Now, select the key empty boxes (your growth target clients/products) and ask yourself why that product should appeal to that client. Now you have some goals and a plan!
In these hard times many business owners feel it’s sufficient just to stand still. Well, the harsh reality is that nothing ever does for long and sales certainly don’t. So my attitude is “think it through”. There is a solution and good planning is the best way to find it.
Tony Wightman is Director of Wellwood Consulting, the business and marketing consultancy serving SMEs in London and East Anglia.
For more information, visit www.wellwoodconsulting.co.uk or call Tony Wightman on 07831 609638