Property Development Tips And Advice
When the economy is strong businesses focus on business development. When the economy is weak those same businesses worry about survival. Why is that? In this article I’d like to share some ideas about what you can do to make sure your business is always growth focused rather than survival focused.
To help set you on the right path for your Chris Nashed this year here are some simple and actionable steps you can take to provide a great foundation for the coming year ahead.
Cash is Queen! If you are starting a business, you may want to save first. I heard and read two different schools of thoughts when I first started years ago. Some advocate that you do not need money to get started and to make money. That may prove true for some. But, I can tell you there are very real expenses if you want to go about being in business the right, professional way: phone, fax, website hosting, graphics design, office supplies, domain name registration, taxes. The taxes can crush you.
Don’t ever accept clients just to keep “busy”. While it may initially seem attractive because they’ll pay the bills, accepting clients that may not be your ideal client will preclude you from being able to fully embrace the intended ebb in your business. While short term goals may be met, the longer term goals will the be opportunity cost and you’ll remain where you are even longer.
There was a time when this was not so, but with the explosion of the internet and inexpensive broadband becoming increasingly more available, an increasing number of people reach for their laptop when considering using your professional services, and if you site does not appear at least within the first two pages of the search results then you have had it. Yellow pages are old hat and people no longer walk the streets searching out your offices.
You let yourself and your people off the hook as soon as you hear the first “no.” Don’t give in to your ego. Instead, work to confidently match your solutions to the client’s problems, and then follow through and solve those problems. Encourage your people to innovate and create new services that will help current and future clients.
Customers come first. The business should revolve around the customer. After all, they are the ones who will keep the business alive. It is important to get to know the target market, to identify not only their needs and wants but what they potentially need or want which they do not know yet. But the population is enormous so it is also necessary to identify the most profitable customers. Hence, the primary target has to be separated from the secondary market. However, demographics should not be the only focus. There should also be a behavioural and lifestyle analysis of the customers.
One of the greatest challenges for service providers, professionals, business owners, and new sales people is to have the confidence to strike up new relationships.