Like you I am a Business Owner
Like you I am a business owner and on the 1st of December 2017, I stepped out of the comfort zone of being employed to going full time in my business.
I have seen rapid growth since then and my learning curve has been insane, I feel like I have experienced every emotion in the last 18 months at least 20 times over and I have loved every minute of it.
I believe there are 3 very important parts to your business.
You’re the reason the business exists and by extension the talent you bring on to work with and call your team, allow you to build and grow your capability and service offering.
So, don’t ever forget that your team is an integral part of your business.
The next most important part of your business is your clientele. Understanding their pressures, pains, needs and wants will help you to identify where you fit.
Understanding where you fit and how you help is so important to building a strong long lasting business relationship.
1. Are you asking the Right Questions?
Where are your current customers coming from?
You’ve got an existing customer base, but have you really asked where or how they found you.
Exploring how they found you allows you to potentially grow and leverage those existing avenues of client acquisition.
These are important questions you need to ask yourself and explore.
If your marketing is working for you, have you measured and tested each of your marketing mediums to improve conversion rates?
Areas of your marketing to review:
By improving the conversion rate you’ll lower your cost per lead and increase the quantity of leads you receive.
If it is not working for you, why not?
You should be investing your time and energy into working out why it isn’t working or why the leads coming through are so high in cost.
Need help establishing why your marketing isn’t working for you?
2. Set yourself Goals
Growing up goal setting was instilled in my values and I can’t express how important it is in every area of my life. By setting goals, you’ll make plans, execute and benchmark your progress.
Some goals for digital marketing as an example are;
By defining your goals, then you can create a structured plan to execute.
3. Look to your current client list for Referrals
Your current clients are your strongest advocates, do not underestimate the opportunity they can present your business.
Ask your current clients this, do they value what you offer and if so, do they know anyone that would benefit from meeting with you.
Referrals are highly valuable opportunities for new clientele.
Are you aware of or have you considered a joint venture?
Aligning yourself with key clients in a combined marketing campaign shares cost and offers more value to your shared customers.
A joint venture drives opportunity for both businesses to grow and can be a powerful mutually beneficial relationship.
4. Focus on understanding the Pressures and Pains of your Customer
Are you getting to the bottom of the pressures and pains that your clients are experiencing?
Understanding exactly where and how you fit to improve their quality of life, either in a personal or business sense, is invaluable as a service offering.
Ensuring you are there when the shit hits the fan is just as important. Alleviating stress at a time of need strengthens the bond, trust and relationship you have with your client.
See how we might help you and your business!
5. Play to your Strengths
Know your strengths and stick to them.
Caring about your client is admirable quality but overextending yourself and your team, in an area that is not your forte, to help a client when they are struggling can lead to trouble or a shortfall in serviceability.
Knowing your weaknesses is just as important as knowing your strengths. By knowing what your capabilities are and where to draw the line, it will save you time and save you a cost to the business.
By referring your client to a 3rd party, you’re also positioning yourself as a go-to resource when your customer needs a problem solved.
6. Understand your Market
Do you really know where your business fits?
Understanding your market helps you define where your business fits and how you can position yourself to be of value.
This will help you identify how you can broadcast your story and message, engage and interact with your clientele, and stand out from your competition.
Noise… the internet is full of noise.
Therefore, it is so important to build your story, present your strengths and refine your message before spending hard earned dollars on digital marketing.
Content and brand strategy are the foundation and key to running a successful online marketing campaign.
7. Enable your team to bring in Business
We’ve already established that your team is one of your biggest assets of your business, but have you enabled them to bring in new business?
Educating your team to ask the right questions, identify opportunities and allowing them the freedom or reward to grow the business will lead to amplified growth!
How do you do this you ask?
Every business is different, and I’d love the chance to brainstorm some ideas with you.
An example I can present – In the case of a plumber, when your employee has completed a service call implement a step whereby, he or she drops a flyer into 5 mailboxes close by.
This leverages an existing service call, affording a little more time and the affordable cost of flyers.
Improving the success of this example is adding a clear space on the flyer for the employee to put a code that is only designated to them. If the customer rings from the flyer, ask for the code and reward the employee.
The reward is up to you, I personally love providing social praise.
8. Have a Dedicated Team
Invest in your team. They’re an asset not a workforce.
Understanding and knowing each of your talented members of your team, individually, is important to business growth.
Ask yourself these questions.
Do I know;
The most important thing to each member of your team will be different, money might be what is important, time with their family or self-growth through education.
Regularly work through these questions with them. What is important to them now will change in 2 to 3 years time.
By knowing the answers to these questions and facilitating them, you’ll build a dedicated emotionally driven team, focused on the work at hand.
9. Manage your Own Expectations
Great things take time. Building a driven dedicated team, a strong client base and a marketing campaigns that yield great results does take time.
Don’t waste money!
Pumping money into a marketing campaign without the research or foundation required to make it successful, is like throwing money into frenzied crowd – you’re going to get nothing, or the quality of the leads are going to be poor at best.
A rushed campaign will not be your best work. Take the time to lay the foundation of a well planned marketing campaign and you’ll save money when paying to promote it.
By managing your own expectations and keeping the results realistic, you’ll appreciate your success and wins. Through measurement and testing you’ll simply improve the results of these wins.
Create goals, build a strategy, test and measure repeatedly and identify what works. Overtime through continued measurement you’ll further refine your strategies, so don’t set and forget!
Learn more about Optimise Online & the team!
I don’t pretend to know it all and I will never close myself off to learning something new!
As a fellow business owner or if you are working towards establishing your own business, I would love to hear your thoughts, suggestions and ideas to what I have conveyed.
Together we are stronger, together we learn.
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