Five Steps to Growth - Part 1

Five steps to growthSo you want to grow your business, but how are you going to make it happen?

Ian Wright explains a process to review the current situation and lead you towards more sales and greater profits.

 

We need to look closely at our businesses and ask ourselves some key questions about our business strategy – and to ensure that what we are offering is heard, understood and, most importantly, valued, by a sufficiently large and attractive set of prospective customers.

I’ve always found it useful to divide the questions into five areas – as shown in the diagram.

We'll explain more details of the five steps in future postings. 

1.  Customer focus.

A critical first step is to identify the sectors and customers that will give us the best return on our sales and marketing effort.

2. Define the offering.

Having established which the most attractive customers are we must check how well our business is equipped to give these customers what they need and want. 

3. The Big Idea.

Can you give a compelling summary of what your business does for its customers?  Getting this right isn’t just important for sales and marketing.  It will also help define and communicate the essence of your business for you and your staff.

4. Customer convenience.

How can we make it easier for customers to do business with us? How do existing and prospective customers want to deal with us?  

5.  Marketing activity.

Finally – are we communicating successfully with our customers and prospects? 

When you’re busy running a business, it can be hard to find the time to ask and answer these questions.  It can also be difficult to make the space to stand back and get the necessary perspective.  Even the best entrepreneurs often find it easier to use an impartial outsider to ask the questions and guide them through the process.  If you would like our help with this, please contact us on 01449 711626 / 07847 424269 or by email on enquiries@orchardllp.com

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Published on  June 14th, 2019