Tool Box
Issue No. 10 - April/May 2003
How to Grow Your Business on a Shoestring Budget
by Reg Templer
Along with global turmoil and slowing economies the new question for business is this. "If for any given reason your business dropped by 30% what would you do?" If you don't have a clue then your alarm bells should ring loud, very, very loud. Here are some new business equations for people living in the real world that will help grow your business without spending a fortune.
The value of your business = the effort you put into marketing it.
Most people don't bother to plan, why? Because it's often boring, tedious, seen as non-productive and time consuming. That's the biggest mis-conception anybody can have and not planning wastes time and money. So dedicate time to developing marketing plan or invest in getting one done for you. It will keep you focused on growth and provide clear direction with strategies that work and it will pay for itself.
Spectacular customer service = satisfaction and word of mouth.
Everyone tells me their customer service is great, but when we independently survey customer satisfaction levels they are generally around 46% and that means 54% of customers are not happy or don't care any more. Develop a customer service plan that includes follow up, value added services, smiles, a professional appearance, guarantees, bright packaging, personal service and a "can do" attitude that revolves around the customer. An independent service audit will reveal opportunities to make your service spectacular and get people talking.
Dare to be different = getting noticed and talked about.
Stop following your competitors and start doing your own thing. I keep hearing the phrase, "But it isn't done like that in our industry" and that's good enough reason to be different. Remember the Big Red Phone on top of the little pizza delivery car? It changed the market and nearly sent the big boys to the wall just by being different, very different. So look different, and get out there, way out there, weird wo...
