Most businesses will reach a point where new business slows down and growth comes to a standstill. Although tou should be searching for new target customers all the time it has become more important now. It will get your buiness back on the way to growth and increased profits. Start looking at all the possible ways to market with the budget you have and begin to step out of your comfort zone and go after new business. There are many short articles on this blog that will point you in the right direction but you have to start doing it. Not every idea will work for every business but you will need to test several to find the best for you.
Look at where your customers and clients are coming from now and see if you have reached out to that sector recently. Maybe you have sat back and just fed off repeat business for longer than you should have and not gone after new business. Past customers will leave for many reasons and you need to replace them before they leave. Those replacements are out there but you must pursue them and entice them to buy from you. And when was the last time you asked your best customers for referrals?
You can also use a business coach or consultant to help you seek new target markets that you either forgot about or didn't realize you could sell to and grow with. It's best to use a coach that will only bill you by the hour and not lock you into a long term contract. They have experience with many businesses and can use ideas they find elsewhere to assist you. Also be sure that the coach/consultant has actually owned a business or two themselves so they have experienced what you are going through. However to do it, always be looking for new customers and new markets and watch your business grow.
Barry is a coach and consultant that helps new and existing businesses start, grow and solve problems. www.idealetter.com
Saturday, November 23, 2013
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