3 Keys to Business Success
The keys to business success are like light switches, they are either on or they are off.
We can tell whether a light switch is on or off very quickly. But it’s not so easy to tell if our business strategy will take us toward success or failure.
Sort of makes you wonder why the business development experts seem to be promoting “action” a lot more often than they talk about “direction”.
Maybe that’s why business owners are so anxious to “do something”, to get traction from their efforts, that they forget the age old rule of strategic business development – accuracy first, momentum second?
Isn’t that why builders at all skill levels recognize that we really need to measure twice, cut once?
When it comes to the keys to business success, just like a light switch that’s turned off – it doesn’t help to be speeding along making good time, when you’re heading in the wrong direction.
So, how come some businesses – not yours of course, are just blasting away long before they’ve got the actual target dialed in with a precisely defined focus?
Maybe it’s simply because business people are naturally action oriented not to mention it really feels better to do something than simply thinking about it.
A primary secret weapon to your success (keys to business success) is the value of your organization’s uniqueness. What is it about your business that sets you apart from the competition in your marketplace?
By the way, who are your conventional competition? Are there any new competitors coming on the scene? Exactly what do you consider your marketing area? Did 70-80% of your new business come from a relatively few accounts, or a sub-niche in your marketplace, or a single geographical area last year?
Unless you know specifically who is already buying from you, and why, you’ll never be able to articulate your USP, your unique selling proposition – from the opinion of your customers.
Would it be useful if you could arrange a small group of your friends, people who recognize your challenges, to discuss these and other elements of your small business strategy with? People who live around the country – not nearby, so you won’t be telling your business secrets or sharing your plans with a someone you’re going to run into at the mall or at church.
Additionally, another of the keys to business success, the success of your marketing plan and the success of your company in general is the caliber of your organization’s acknowledged reputation as someone to do business with.
In this day of just about infinite choices of vendors it is critical that you are thought to be someone people look forward to business with and someone people trust to keep their word.
When you are the best kept secret in your area or in your industry – if the right people don’t know who you are, then your results will be lower than they would be if you were a household name among your potential customers.
Your customers know who you and to the extent they keep doing business with you are happy with the relationship. If they stand for the “right people” to you, how can you recruit them in your efforts to pass on your reputation as a professional organization to do business with?
Perhaps your peers, those involved with your industry, have developed campaigns that effectively target the right people in their market? Maybe these same peers can help you focus your efforts in the right places determined by what is working for them? That would put some sharp teeth into your marketing strategy, wouldn’t it?
Your Products and Services
The last of these keys to business success is the quality of your products and support services. Chances are that the quality of your products and support services measures up to your customers’ expectations. If it didn’t there would be few repeat sales and sales generally speaking would be declining.
Your challenge is to develop the ability to continually communicate the fact that your customers’ expectations are being met to your prospects. In other words getting that message out prior to the sale is the key.
An excellent strategic marketing strategy brings together these elements into a seamless process that will let you focus on what you are unique at, who is the ideal prospect for it, and then recruiting your satisfied customers to tell your story to the right people in your marketplace.
For most of you this will not be a complicated process. It will take effort and you will need help.
That help can and in all likelihood should come from a group of your peers, people from your industry, who are far outside of your traditional marketing area.
People whose marketing insights and experiences are directly relevant to you.
Today, free long distance service, Facebook groups, Google + Hangouts, and small business webinar tools can make your meetings effective without worrying about the money and time squandered getting to and from in person get-together’s.
These types of Internet tools also offer the ability to interact with the other members of your strategic marketing peer group 24/7 – so your plans can be refined continually to deal with the speed of change in business today.
Most of us rely on occasional, often coincidental connections with our peers for the insights that could make all the difference. Conversely business owners who regularly integrate the experiences of their successful industry peers into their decision making process will certainly outpace those who simply set goals and hope for the best.
When we make better decisions we get better results. Business success is the result of continuously making better, more informed decisions. The best decisions are those made in collaboration with people whose success we respect and whose opinions we trust.
It is our mission to offer a broad perspective on the challenges business owners face as well as their solutions.
I really hope you find the time you spend here worthwhile (productive), that you will follow me on Twitter and share your opinion about what you find here with your social media followers and contacts.
Your future will be the result of the decisions you are making and the actions you are taking today.
All The Best!
Wayne Messick, Author & Publisher
Family Business Strategist
New York, NY
More Keys to Business Success For You
- Free Small Business Marketing Tools & Videos
- Social Marketing Success With Facebook
- Small Business Leadership Skills
- Does Excellent Leadership Training Come From Celebrity Leaders?
- Marketing Strategies for Small Business
- A Business Development Strategy Template
- Effective Marketing Strategies For Small Business
- The Surprisingly Simple Truth Behind Extraordinary Results
- The Importance of a Business Strategy for Entrepreneurs – Business ...
- The Missing Element of Business Strategy | Chartered Management ...
- Global Business Strategy: Leading Cross-Cultural Teams - Events at ...
- Making Hope a Business Strategy
- Google case study - Smart Insights Digital Marketing Advice
- Strategy as love, not war | MIT Sloan Management Review