In my book, CHAOS; How Business Leaders Can Master The Power Of Focus, I write about defining the Vision for your business in order to connect to the medium term path the business will travel. I make it easy for the business owner to do this by identifying that the Vision Statement as the first element of the business plan is simply; how much, by when, doing what, for whom in what geographical marketplace. While overall this is a relatively simple process (especially when compared to what business owners think a Vision Statement is), I challenge the business owner to define the “for whom”, as their perfect customer , not now, but 3 years from now. This is not an easy task if it has never been considered but will ensure the business plan is just that much more relevant, tight, dare I say perfected!
Here is an article (short) that draws our attention to the value of working with only those customers we WANT to work with…
IT’S NO SECRET that it costs a lot more to acquire new customers than to retain the ones you’ve got. Winning new customers is one of the most challenging aspects of running a business, but there are many ways to go about it.
“Create an environment that shows you are easy to do business with, that you can handle complaints and that you mean what you say. When you’ve won a contract it’s important to deliver on all your promises.
This is the starting point for building trust which is key to winning new business,” explains John Leach, of management consultants Strategem.
He offers the following pointers to help you make a success of winning new business:
- Do your research and understand who your customers are.
- Thorough research will help you prepare best – and it will also help you decide whether a certain customer is worth the attention.
- Choose your customers carefully. Learn to walk away and say no – a problem customer could cause hassles such as lengthy payment periods, or worse still, not being paid at all.
- Find out who makes the buying decisions – don’t tolerate time-wasters; ensure you concentrate on those individuals with influence.
- Be clear on how you are going to reach your customers. Decide what your marketing tools will be and more importantly, ensure they suit your budget.
- Be clear on what makes you different – this is a question you will be asked all the time.
- You can never prepare enough. Before going to sales meetings, ensure that you are 100% prepared.
- Anticipate any problems that may arise and questions that will be thrown at you so you can handle any objections – prevention can work better than cure.
We’ll add that the tighter you can be in defining who your customer the better. Go so far as creating the Avitar of your perfect customer by; giving them names including the children, how many do they have, where do they live (give it a street name you are familiar with), what cars are parked in the driveway, what jobs do the parents have or what businesses do they own, how old are the kids? All of this will ensure you know your customer, where to find them and what marketing messages they will respond to (a Baby Boomer a GenX and a Millennials respond entirely differently to our marketing messages). The better you understand who we are the greater the probability you create for us to BUY, BUY MORE and BUY MORE OFTEN.
SOURCE NOTE: BusinessGO
WHAT’S THE NEXT STEP?
1.You can find out more about what a business plan is and its importance with the international best-selling book CHAOS; How Business Leaders Can Master the Power of Focus. Get your FREE copy HERE
2. Use our FREE business planning program FOCUS Yourself; A 7 Module Business Plan Program. This is not a business plan template, it is a full business plan that is EASY and FAST, making your plan SUSTAINABLE and entirely PRACTICAL. Start your business plan NOW
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