small-bizXpress

Stephen James considers that if you take action in each of these 10 areas, you will not only be 2 steps in front of your competition, but you may very well be within touching distance of living your dream.

1. Business Plan. A business plan is critical to achieving consistent growth in any business. The benefits of a business plan are realised immediately through the process of just thinking clearly about your business for an extended period of time, and through illuminating the areas of your business that need fixing.

2. Customer Database. At the end of the day, your customers are the most valuable asset you have in your business. You should be taking every opportunity to collect the names and contact details of your customers and communicating with them on a regular basis.

3. Systems. Systems are essential for ensuring that you provide a consistent level of service to your customers and so that you understand the financial performance of your business.

4. Staff Incentives. To attract great people, progressive companies are keenly aware that they need to foster personal responsibility and provide direct reward for measurable results.

5. Staff meetings. Meetings are an opportunity to inspire your people and thereby your business. They also give your people a sense of belonging through the process of sharing information.

6. Marketing. Marketing is the most important of all success strategies in your business, because if you can't find a buyer for your product or service, nothing else you do will matter!

7. Branding. Branding is about creating and communicating a set of values to the consumer of your product or service.

8. Business Image. First impressions count for a lot. Addressing your business image is all about paying attention to the little things that will exceed your customers expectations.

9. Guarantee. How does a customer truly believe they are going to receive value from doing business with you? They will only know this if you are prepared to take more risk in the transaction than they are…and this promise is delivered through your guarantee.

10. Customer care. Every business should have a follow up system that extends sincere thanks to every new customer and for their ongoing patronage.

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Labels: branding, business plan, clients, customers, marketing, staff, strategy

LA Times:

Branding your firm is a crucial part of your overall marketing strategy. Establishing a brand involves defining your company, knowing exactly what niche you serve in your industry and convincing your potential customers that your product or service is the only solution to their problem.

The smaller the enterprise, the more important branding is because small firms tend to have fewer resources and lower marketing budgets.

If you have established a strong brand, you will not have to do as much marketing to have an effect on potential customers.

Labels: branding, small business