| |
| |
|
Marketing Resource Center |
|
|
|
10 Tips to Grow Your Business Plain & Simple
"Try not to become a man of success but rather to become a man of value." Albert Einstein Recently I heard a statistic that the majority of businesses operate at 60% of their potential. While I was unable to obtain the source of that statistic it seemed rather accurate or maybe even high. The Small Business Association reports that "2/3 of new employer firms survive at least 2 years, and about 1/2 survive at least 4 years." The language they use is almost as scary as the statistics themselves. This article provides tips to help you develop and grow a strong, solid business foundation. 1- Solid Plan with a Clear Simple Vision- Think of the impact you would like your business to have in the world. Think big! You may never reach your vision but the vision itself is so grand that your team gets excited about it. Then back up and look at what would have to happen to get there. Create a solid plan with realistic short and long term goals. 2- Focus on Profitability vs. Revenue- While revenue is important, high revenue doesn't add value if your expenses are just as high. What can you do to create more profit? Possibly develop various streams of income. What expenses could be reduced or eliminated? How can you operate more efficiently? Think profit. 3- Work "in" and "on" your business- Sometimes we get so caught up in daily tasks "in" our business we forget to step back to take a wider look from the outside. Seeing it through a customer's eyes. Noticing how it fits into the community. Preparing the future of the company. On the other hand, we can get so comfortable working "on" our business we forget to step in to talk with customers and experience what the employees face on a daily basis. 4- Automate and Create Systems- What do you need to automate? What system can you put in place that would free up your time or make you more money? What tasks need to be eliminated, systematized, or delegated. What system would help your employees be more effective and provide the best service? Finally, is there a system that needs to be upgraded? Automation and systems help your business be consistent and efficient. 5- Consistent Marketing Plan- Marketing expert Jay Conrad Levinson of Guerilla Marketing has said that "I hate to admit this, but mediocre marketing with commitment works better than brilliant marketing without commitment." It is important to have a marketing plan in place that is consistently and persistently being carried out on a daily basis....not just when you need more customers. 6- Increase Value to Your Customers- Give more than your customers ask for...more than they expect. There are 3 convenience stores by my neighborhood. The first one built I visited regularly and was satisfied. Nothing unique. The second I visited less than a handful of times and had to wait every time to get checked out so haven't been back in years. Every time I get gas at the third store I am greeted over the intercom with a friendly "Hi, how are you today?". When we go inside they are friendly and always provide my kids with a free lollipop. They even added a Post Office inside. Who do you think gets my money on a regular basis and with very little effort or money on their part? The one that gives more than I expect. What added value can you provide that will increase your "Wow" factor? 7- Innovate- React to the customer's needs before they know they need it. Instead of selling what you want, sell what the customer needs. How do you know what they need? Take time to talk to them. At a minimum talk to your best customers and learn from each one you've lost. Find out what they would like and what their challenges are. Stay current on market trends in your industry. 8- Leadership vs. Management- Empower your staff to manage themselves. Do you really want to spend your time problem solving? Train them well. Make sure they know the vision of the company and they are on board because there is a personal win in place for them. The personal win gives the employee motivation to cooperate as part of the team. 9- Well Oiled Machine vs. Chaos- Is each section of your business operating efficiently while working together towards the common goal? Or are the members of your team expending time and energy daily putting out fires. What change can you make to shift your business out of crisis/ problem-solving to operating with ease? 10- Develop YOU! - Take a minute to hold your breathe. As you hold your breathe think about what you really want. See what happens. Unless you are uniquely talented you probably had trouble thinking about what you want....because your needs were not being met. When you take care of yourself... feel strong, healthy, happy, and have time and space in your life...you can focus on what you want and attract more to your business. Take one step at a time and build a strong, solid business. Along the way build lots of reserves...time, money, space, revenue sources, future products, etc. and begin filling the gap to your potential. Today's Dare to Take Action Challenge:Focus on one tip above for one week. What changes can you make? Take action on one, build momentum, and move on. Starting Now! Copyright 2003 © Beth A. Tabak, All rights reserved. Beth Tabak is a Business & Life Coach, columnist, & owner of Starting Now. She is 100% committed to coaching small business owners and professionals to grow beyond limits, and create the business and life they keep thinking about. Free informative classes, resources, ezines, and more at http://www.startingnowcoaching.com .
MORE RESOURCES:
Marketing - Google News |
|
|
|
RELATED ARTICLES
Promotional Bags: Your Company Details on Parade The trick to a good promotion is to attach your company details to something useful. Now, there is "private useful" like the promotional toothbrush you use in the privacy of your own bathroom, and there is "public useful" that you use out there where everyone sees you inadvertently parading the promotion. Distinguish Your Business From The Competition You followed time-honored online marketing techniques to the letter: you have a great web site, the site has a high search engine rank, and you created a compelling marketing message that showcases your unique selling proposition. Unfortunately, your competitors are reading the same playbook and are implementing the same marketing strategies. Free Marketing Tips Dumb Excuse #1"I'm not sure I want to invest any money in my internet business right now."Yes, it's sad to say but I hear this one from time to time. Client Attraction Technique #1: Niche Marketing When asked "what business are you in" many business owners often identify an industry, for example, "I'm an accountant" or "I run a beauty salon " or "I own a restaurant." But claiming to be part of an industry is not what attracts customers. How to Turn Your Marketing Into a Money-Making Machine - Setting The Stage For Successful Marketing Powerful Marketing has become elusive to many companies seeking strong sales results and overall growth. The sad truth is that Marketing comes across as a rather frustrating process. The 4 P s of Marketing: Effective Marketing Programs Depend On Them There is no shortage of marketing programs, many with great profit potential. The challenge is to sift through and choose the ones that are right for your situation -- the ones that have the greatest potential to grow your business. Financial Services Marketing Insights: A Marketing Compass What we now call "marketing" began long before the name was coined. In the mid-1800s, traveling salesmen dressed "snake oil" and other tonics in fancy packaging and extolled their virtues to a gullible public. A Forgotten Marketing Tool - The Postcard The postcard can be a very powerful marketing tool. Many of our customers and/or students use them in their business. Inform vs. Excite excite v. 1 a: to call to activity b: to arouse to feeling 2 a: ENERGIZE b: to produce a magnetic field in 3: to increase the activity of 4: to raise to a higher energy level syn see PROVOKEA lot of marketing doesn't do the whole job. Increase Your Response with Multi-Step Marketing "There is only one way to judge the effectiveness of a marketing piece, and that is by the number of responses you get." - Heidi Richards -Multi-step marketing is a simple yet extremely powerful strategy when you use it to its full potential. How to Size an Emerging Market In developing their business plans, companies of all sizes face the challenge of determining the size of their markets. To begin, companies must present the size of their "relevant market" in their plans. Creating a Marketing Plan for Your Website Have you created a marketing plan for your Website? If not, it is time to think about developing one. An Internet marketing plan helps you make the right day-to-day and long term decisions. Planning Your Postcard Marketing Campaign Before you create your postcard, do a little planning. Ask yourself:1. Unleash the Power of Post Cards Direct mail marketing is essential for a business to survive.Choosing the correct materials can make the difference betweensuccess and failure of your marketing campaign. Why Market to Generation X? Generation X"--the 40 million or so people born between 1965 and 1976--understands it is living in a world of uncertainty where neither the govern¬ment nor private employers offer lifetime financial security. This is, however, the next generation of responsible adults, bright young people with families to protect and educate. Knowing Your Customer Is The Key Without doubt, understanding what a customer's wants and needs are is one of the most important aspects of running a business. You must know your customer. Six Essential Principles for Marketing to Women Business Owners Marketing to women entrepreneurs is not difficult. You just have to follow six easy, but essential, principles. Good Marketing Pays for Itself Most companies ask themselves this question: "How much will this advertising cost us?" when they should actually be asking themselves this: "How much will it cost not to do this advertising?"If your company spends $1000 per week on marketing then you could save $1000 per week by not doing any marketing. That is true but it is the simple and shortsighted view of the situation. Use Events to Market on the Internet Having difficulty knowing what to offer people online? Worried that your prospects are too bombarded by sales pitches to pick yours out from the hundreds they get every day?Try something different - an event!Events have a number of benefits over standard marketing approaches. Some of these benefits include:Events are perceived as informational and are often more accepted than sales pitches. The Key to Success Good business is about communication..
|
| home | site map | Advertising Articles |
| © 2006 |
