Growing your business is one of the toughest things an entrepreneur needs to do. But nothing gets done without a paying client so you have to go out and get some. For established businesses like I specialize in, I suggest 30% of your business development time be focused on building new client relationships and 70% be devoted to your existing client base.
That said, both need to occur to diversify your channels of opportunity. Here’s how:
ATTRACTING NEW CLIENTS:
- Focus on your client. They’re the reason WHY you’re in business. They pay your mortgage, expenses and meals.
- Do what you say you’re going do plus a little extra. Keep your promises and over-perform.
- It’s about relationships. People buy from people they trust.
- You have to get out there and meet people. Dress professionally. Smile. Relax. Be yourself.
- Really CARE about your clients problems. If you listen well, they’re actually opportunities.
YOUR BIGGEST ASSET IS YOUR EXISTING CLIENT BASE:
- It costs a lot of money and time to get a new client in the door. Your current clients already trust you enough to have done business with you—they will again and it won’t cost that initial bump.
- Especially now, now is a great time to talk to your clients and see how they’re managing. See if you can help them in some way. You might actually be able to and the offer will go a long way.
- Survey your current clients by phone or personal email and ask them for feedback about how you’re doing, what they’d like to buy from you and ask them what their biggest worries are. The feedback could be your next growth opportunity.
- Create lower priced services or find lower priced products right now and get more customers. Keep your margins intact if you can but have a lower priced offering in hand for two reasons. 1) People aren’t spending money these days because of the economy and people pay attention to their nickels now where they didn’t before. 2) You’ll need more clients to retain your current income but with more clients–when the turn comes–you’ll be set for double digit growth.
To your Success.
Mark works with business owners seeking to enhance value and add strength to their management team without hiring full time senior level staff–a great way to grow your business in this tough economy.
Mark’s site address is at: http://www.markoverbury.com and http://www.undergroundexecutivelab.com/
Mark uses his experience partnering with senior level management to bring a fresh, objective perspective, new strength to the management team and helps guide strategy and assist in the better execution of the business plan.
Please feel free to talk to Mark any time–the first 45 minute consultation is entirely free where we’ll get a sense of each other and determine what to do next to move your project forward.
