We made eight new friends at our cabin this summer. And just like people, the more favors you offer the more loyal your friends are. In this case a few pieces of bread everyday brings great loyalty in return.
But since this is a business newsletter there needs to be a business point about this. And it’s this:
You have to continually be growing your customer base, referral sources, and general awareness about your company and its value proposition.
There’s an old premise, “If your business isn’t growing it’s stagnant, if it’s stagnant it’s declining, and a declining business doesn’t have long to last.”
- I look at my business and see this newsletters distribution list has grown by 35% over the last two to three years.
- My referral base grows monthly.
- My annual client breakfast invitation list seems to grow by six to 10 people a year (buy-sell clients, coaching clients, and consulting clients).
What are the numbers for your business? Are there new customers every year or is it just more business with the same old group? Are you prepared if some customers change ownership (and suppliers – you), move, or go out of business?
Often this comes down to:
Are your salespeople order takers or business development people?
The more problems they know how to solve the more business they will develop.
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas Edison