Sitting down with a cup coffee, you look at your financials and you realize your annual projections are not unfolding quite like you planned. Revenue is down, expenses are up and profitability is just a flicker on your Profit and Loss statements. You know that the longer you wait, the harder it will be to make up the shortfall. It’s time to step up your game and maybe even get outside your comfort zone and do some business development. Because you know that if you don’t act now, things are just going to get worse.
“You already have a relationship with them, take advantage of it!”
So here are five things you can do to hit those goals and get the business back on track or to the next level.
#1 – Call your dormant customers. Look at all those clients you’ve served during the past 18 – 24 months and the ones you haven’t heard from in the past 12 months, give them a call to let them know you’re thinking about them. Use the opportunity to tell them what new offerings you have. You already have a relationship with them, take advantage of it.
“This exercise will help you free up the time you need to be more visible”
#2 – Up your visibility! Get in front of your target market whether as a guest speaker or attend an event that your prospective clients may might be participating. Consider volunteering within your industry association or a business group like a chamber of commerce. Get out in front of people and let them know what you do.
#3 – Delegate an important task to one of your employees. Give them direction and set expectations then get out of their way. Don’t forget to establish some milestones by which they need to check in with you. Let them know that you are available for discussion but expect them complete the assignment. This exercise will help you free up the time you need to be more visible in front of your customers. It will also help you to learn how to delegate.
#4 – Go have a coffee with 5 of your current clients and ask them how you’re doing? What do they like and dislike about doing business with you? Ask them what you can do to make doing business with you easier?
#5 – While you’re talking with your existing clients (point 4) and your dormant clients (point 1) ask them who they know that could use your product or service.
Earth shattering ideas? Not! But most businesses are run by doing a whole bunch of straightforward activities that should be done everyday. So why wait any longer? Because if not now, when?
I’m Greg Weatherdon and this has been your Small Business Minute.
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Copyright © Greg Weatherdon 2017
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