Growing your business in a tough market – Getting back to basics
There have been a lot of articles and comment recently in the various trade press about running a successful business in a tough market. Of course, we all have our own views, but why is it that some businesses manage to thrive, almost at odds with the general market? What is their secret? Is there a secret?
Whether you feel that your particular sector has weathered the storm or is still in the middle of it all, there are undoubtedly some lessons to take forward for us all.
My view is that each recession that comes and goes can be used as a opportunity to re-address your business from the ground up, a time to remember what made you successful in the first place, and get back to basics.
The real basics of business are so easy to overlook in good times. After cash-flow, the most important has to be client side. Keeping in touch with your contacts, getting out to meet them, taking the time in your day to prospect for new business and network, all so easy to push aside when you are overly busy. But in tough times there is no excuse. Get the basics right and more business will come. Be in the very front of your client’s minds, and when the time comes to engage a professional, be their first call.
As I speak with my clients, I feel a certain sense of optimism, despite the GDP figures released earlier this year for the last quarter of 2010. This optimism is a very pleasing change and may it turn into a good trading year for us all.
In the meantime, why not pick up the phone right now to a client you haven’t spoken to for a while and re-ignite your relationship. Who knows, it might be the start of something big for you and your business.
For more on developing yourself, your staff and improving the profitability of your business, please do get in touch. You can email me at email@example.com, use the contact page on my website www.jamesnathan.com or call me on 07736 831151. Follow me on Twitter at @jamesnathanxp, connect to me on LinkedIn, or follow me on Facebook.
I look forward to being in touch.