5 tips to strengthen your businessTo stay ahead or in tough times it pays to be prudent, focused and active. Here are some tips that will help you strengthen your business and have a better more valuable business:
For a stronger business2>
1. Work with your customers.
Keep the communication going; when times get tough
we tend to retreat to our caves (no customers there). Every customer counts and
we need to get out there, connect and understand how we may best service their
needs in a different market place. Work to ensure your customers are happy.
2. Review your offerings.
Focus on the best performers, those that communicate
value, reliability, durability and performance, and re-forecast your demands and
cashflow on these.
3. Focus on the value.
People are looking for value. Define how your customers
perceive 'value' during difficult times. Look to add and emphasise such value
in your overall offering instead of just lowering prices.
4. Maintain the marketing.
Businesses that increase their advertising during
recessions, while competitors cut back, can improve their market share.
Determine which mediums and activities provide you with your greatest returns.
Err towards the more proven channels and those that target your customers
(select on quality).
5. Communicate and promote. Stay vocal and active - your advertising and communications
should stress value and performance, not focus so much on creating brand or
company awareness. Look to connect with your more serious customers with
messages about your product or service and its capabilities with strong calls
to action. Your website can be a powerful and cost effective tool offering an
easy way to reinforce your message.
Want a better business? Build the value in your business for the day you sell
By Richard O'Brien - nzbizbuysell
In this category:
- Growing your business through business acquisition
- The one page business plan (pdf download)
- Developing a business exit strategy
- Marketing your business for free
- Have a better business budget
- Why competition is good for business
- 5 reasons businesses fail
- Surviving the holiday season
- Business survival through adaption
- Do you know what business you are in?
- Tips for small business owners going it alone
- Planning for business success
- 5 steps to a better business
- Strengthen your business
- Managing a seasonal business
- The dreaded Business Plan
- Writing a business plan
- Pimp my business for selling