Five Tips to Making This Year More Profitable
Posted: January 13, 2015 Filed under: Business Plan, Business Vision, Customer Service, Goal-Setting, Leadership | Tags: Business, Customer Analysis, Entrepreneur, goal setting, goals, Leadership, LinkedIn, motivation, Networking, Profitable Business, Success, Winston Churchill
Have customers stopped caring or is there little for them to care about? How can your business continue to thrive in this increasingly confused marketplace?
As business owners, we all ask ourselves these questions, so to kick off the new 2015 business year, we invited a business speaker, Curt Skene, to present to over 100 business owners across Ontario and try to provide some concrete answers to these key questions.
The actual presentation was called Insights for Attracting and Sustaining Profitable Business, and I’d like to share with you my learnings and top five tips on how to make 2015 your best year ever:
- Know Everything About Your Customer: Sometimes we don’t ask our customers questions, and sometimes we don’t ask them the right questions. We all know customers are 100% of our business, so make sure you understand them better by asking them thoughtful questions about their business and then turning that into an opportunity to align yourself with their business.
- Provide a Solution Not a Service: Think about what problem your business solves for your customer. If you are an RMT, are you trying to reduce stress or relax muscles…or both? What exactly is the solution you offer and start thinking in those terms when describing your business. It needs to be a value-based solution.
- Create a WOW in Your Business: Do you know what creates a WOW for your customer? If you don’t, find out by asking them. Your customers chose you when there are so many other companies bidding for their attention. Why? Find out and then leverage it in your marketing strategy.
- Have a Hero: It may seem trite, but these days more than ever, we all need to have a hero, a mentor, someone alive or not, to whom we can align our own thoughts and values. A good example was Mayor Rudy Giuliani who when faced with the atrocities of September 11th, recalled his hero Sir Winston Churchill for guidance and strength to help him manage this crisis.
- Leverage Your Network Better: We all know hundreds of people and thanks to social media networks, we all know far more than we think we know. Take the time to tap in to your networks, family, friends and social media, to see who you know and how you can “connect”.
While growing your business is important, it will never grow if we don’t take the time to focus on who you are and who your customers are. Sometimes this means conducting market research, but the more you know, the more you can grow!
How well do you think you know your customers? When was that last time you surveyed your customers (and not with a printed or electronic survey)? Do you think of your business as helping your customers? If not, then why not? Let me know in the comment section below.