Planning is Crucial to SME Business Success
If you don’t know where you’re going, how will you know when you reach your destination?
Does your business have a plan? A plan is the business equivalent of a Sat Nav. It’s unlikely you’d leave home without clear directions to get to your destination unless you specifically know the address where you’re headed.
I’ve had many new business meetings where I’ve asked a simple question and got disturbing answers.The question was: “’What are the main objectives of your marketing and business development activities?”
Answers ranged from ‘to grow our business’ ‘to promote awareness’. This is in addition to all manner of other vague and ill-defined objectives. I generally follow this question up with additional questions e.g.
- Who is your main target audience?
- What challenges do your prospects face that you solve for them? and
- What message about your business do you want prospective customers to take away?
- Why should prospective customers meet you?
These questions often provoke furrowed brows and more unclear answers. The thing is this. If you don’t know who you’re targeting, where you add value, what challenges you solve for your clients, what you want them to feel about your business and what your objectives are, how will your business ever grow? And, why should prospective clients consider your business to add to their shortlist for new suppliers? Indeed, why should they contemplate removing their current provider of services when ‘it ain’t broke’.
Maybe you’ve been lucky so far. Maybe you’re in a market where you dominate. Perhaps your product or service is in great demand. Great, if that’s the case. But sadly, that isn’t the case for most of us.
Devising a marketing and business development strategy, having a plan and clear objectives are indispensable to business growth. Lack of clarity and unclear marketing goals mean that growth will take you longer. That’s, of course, assuming you grow at all in the face of competition. It will almost certainly cost you more. The absence of progress and direction will frustrate you and your team. So, make sure you don’t fail to plan or you will most certainly be planning to fail.
Put together a succinct but clear marketing and business development plan even if it’s a one-pager. Monitor your progress towards specific, measurable and achievable objectives and KPI’s. It’s a road-map for you, your team and any outsourced suppliers. It will also help shape your new business development, client retention and ROI.
GSA Business Development is a London based new business development and telemarketing consultancy. We have clients across the UK and internationally. We offer new business development and marketing strategy, senior-level telemarketing services and telemarketing training to ensure that clients generate more new business and deliver ROI.
If you’d like to find out how GSA Business Development can help Generate Growth for your Business, contact us now on 0845 658 8192 or use the form on this site.