Five Gifts You Can Give Your Business in 2016
If I could wave a magic wand, these five things are what I wish for every business out there that wants to grow, do better and make more money in 2016. They aren’t complex ideas, but at least one of the following is a sticking point of most small to medium businesses I come across every week. These five things can turn your business around.
1. Have an actual plan, and stick to it
So many small to medium businesses are reactive, and only do things when everything stops going well. Stop, plan it out, create a strategy, and then apply it. Do work on it every week (or use people like us to do it for you). Regular, consistent, planned.
2. Put your money where your mouth is
I’ll work with a business that has a gross profit of 50% on a turnover over a million dollars, and still doesn’t want to spend on marketing (but want their business to grow). It’s not about throwing money around, but there is a need for spend – and it is time to give back to a business that you want to sustain your lifestyle and family life. Marketing is your way of looking after your business. Give the gift of spend on it
(as an aside – stop getting angry at your target market for not appreciating you and what you do, if you don’t appreciate what you do enough to spend time and money to show it to them)
3. Stop spending on stuff that doesn’t work
If you’ve been throwing thousands at print advertisements for years but aren’t getting a return, stop it. Same goes for all the scary things sales people throw at you. You probably don’t need it. Basic marketing needs do differ from business to business. No one size fits all. Think about what you want to see as a return, and then drop all actions that don’t deliver that (after you’ve made sure you were “using” them well.
4. Educate Yourself
Even if you’re not going to do it yourself, know what everything is and get a basic understanding of how things work. It stops you getting ripped off, and it means you can make calls of what is best for your business.
5. Give your current clients, customers and prospects the gift of your attention
A warm list of people who know about you, who have used you, who recommend you is your best place to sell. They want you – and often businesses do very little to look after these people. Make 2016 the year you nurture the people who kept you going so far.
Rachel Goodchild is managing director of Identify,