Opportunities are always plentiful for those willing to invest the energy to uncover them. Here are specific areas on which to focus when developing your strategy for growing your business.
Your Business
You need to be very focused on your target market and be very clear about what you bring to the table for them – why they need to meet with you, and what they miss if they don’t
- What are the core competencies of your business?
- What is your target market?
- What is the profile of your ideal client or customer?
- What are the primary challenges you address or solutions you provide for your target market?
Your Strategy
You need a mix of passive marketing and proactive prospecting activities. The marketing activities should augment the prospecting activities – not the other way around. Once you’ve developed your strategy, make a firm commitment to not only implement it, but also to stick to it. It will be the backbone of your business.
- What is your strategy for reaching your target market?
- How many avenues have you identified for getting out your message?
- Have you considered costs and time while exploring the options?
New Clients
Remember, people buy for their own reasons, not necessarily yours. Don’t create roadblocks that will prevent them from buying.
- If your product or service requires a large commitment of time, money or involvement from potential customers, is there a way for a prospect to ease into becoming a client?
- Can you provide a short-term study or a pilot program, for instance, for a smaller financial or time commitment?
Existing Clients
Keeping existing customers and growing your business with them is as important, if not more so, than finding new customers. Be aware, your best customers are at the top of your competitors’ prospect lists. Don’t take them for granted.
What will you offer existing clients to add value to the relationship?
What are your plans for leveraging the relationship to find new opportunities?
Support Mechanisms
What new processes, resources or infrastructure will be required to support your business development efforts?
- Will you need to establish new systems or bolster existing ones to support your marketing, prospecting or product delivery processes?
- Are there new technologies that will allow you to maintain more immediate contact with your customers and keep them better informed?
- Will you need new hardware or software to support your efforts?
While you may not have the answers to all the above questions, they can serve as a starting point for designing your action plan. It’s never too early to begin building your future. Begin to plan for and put systems into place now.
