Month: August 2013

Look at adjacent markets

Once your small business has achieved a steady foot-hold in your initial target market(s), it might be the right time to diversify.  The right time for this will ultimately depend on your business and the size of your initial market.

Posted in Competitor / Market Knowledge

Lead Generation is the key to successful sales

Of all the aspects of running a small business, the most important is that of lead generation.  There are plenty of other important processes but by far the most important is lead generation.  Without a steady flow of sales leads,

Posted in Marketing

Use key staff to create long-lasting differences

Developing points of difference between your business and your competitors is one of the critical success factors that will determine the long-term success of your small business.  There are many examples of small businesses that look the same as their

Posted in Differentiation

Dealing with loss-making clients

Every small business has a bunch of high-maintenance, loss-making clients.  Not every small business owner has done the necessary analysis to understand the numbers involved.  They have yet to identify which of their clients are effectively being paid to remain

Posted in Customer Care

Market trends force you to change

One of the most consistent challenges facing small business owners is that of managing change.  Change cannot be avoided, however hard you might try to resist it.  Gradually, if you don’t change with the times, you will be left behind

Posted in Competitor / Market Knowledge

Maintain a balance between new sales and client sales

In planning their sales strategies, small business owners need to maintain a balance between sales to new clients and sales to existing clients.  Too much emphasis on one of these groups leaves their company effectively under-performing.  It’s not that easy

Posted in Sales / Business Growth

Is social media important or just hype?

Ask small business owners about the value to their business of social media and you will get a wide range of responses.  Some owners are completely committed to social media and use it to generate sales opportunities, engage with their

Posted in Marketing

Qualify prospects carefully

I have seen this situation a lot recently – small businesses with what appears to be a healthy looking prospect list and who are struggling to convert them into paying clients.  Even with last minute discounts for immediate orders and

Posted in Sales / Business Growth

5 things to do after losing a sale

I was reflecting on my last posting – “Target a struggling competitor” – and it got me thinking about how important it is to lose a sale in the right way.  You always want to leave the door open with

Posted in Sales / Business Growth