Many small businesses and entrepreneurs do not consider a merger and acquisition as early as they should. Particularly in a down economy, an M&A can be the best avenue to more clients, increased business, great company publicity, and more.
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.
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.
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.
Business development, advertising, marketing, and public relations are all about growing the number of people who know you and your business. Become a resource for information for your clients and industry to increase your profile.