(Part 1 of 3) When babies are borne, they come complete with their own set …
The two things that set any business apart from another similar business are staff and input from advisers. A board makes your organization accountable to an external group of knowledgeable businesspeople and will drive you to make better business decisions.
In our current economy, our customers are buying differently. They are also generally responding to marketing in entirely new ways. Evaluate your business model and processes to take these fundamental changes into account.
Reviewing your business operations includes looking at your I.T. Establish what is actually working for you and stop wasting time with what is not. There are often inexpensive options that can see you profit the most from your technology.
A business plan is important throughout the life of your business – not just at the start – and one of the crucial things you should identify in that plan is why your existing customers should and do buy from you.
Why a business is doing well or poorly is in the details. Measuring takes time and discipline, and forces management to think strategically. Subsequently measuring is often ignored. Measuring results, however, is the only way you can possibly improve upon them.
The mindset of a buyer is much different than that of a seller. The buyer tends to be focused on “what’s in it for me,” whereas the seller tends to focus on the technical aspects of “what we do”. Business needs to understand why customers buy from them so they can focus their marketing efforts on those emotions.