Well it's been a rough few months for many and the prime minister said to expect the months ahead to be 'bumpy'. Therefore, it's reasonable to expect varying Covid restrictions to continue for at least another 6-12 months. For some sectors, e.g. the travel industry, it looks likely to need a vaccine or herd immunity to help them return to anywhere near norm.

Commercial trends and the big economic disruption is forcing through change.

As we now have a better understanding of the future, it's a good time to review your New Business strategy. Ask yourself:

• What's happened since lock-down?
• Where you are right now?
• Where are you most likely to be heading in the next 6-12 months if you continue without making any adjustments? Try to be objective and realistic of future expectations.
• Are you comfortable with those probable projections?

Yes? then good for you, carry on as planned. 

No? then it's time to consider a re-pivot.

It can be hard, bewildering or upsetting to accept that worked well in the past is suddenly not working so well for you now. Try to stand back and evaluate your portfolio of work and the markets you've been servicing.

Some aspects to consider:

• How affected has your regular target market been by Covid?
• Are you typical prospects likely to get through the next 6-12 months without significant impact?
• Do you need to diversify?
• Is there anything more you can add or offer that opens you up to other sectors?
• Do you have any competitive advantages? 
• Do you need to ramp up your new business activities?

The above is some broad guidance to help work out the future. For my thoughts on your specific situation, get in touch.
​Ilse

Right now there is that uplifting feeling of spring approaching. Tightly closed yellow daffodil buds ready to burst into bloom. Crisp blue skies which bring that fabulous sharp light. A rejuvenating brisk air and the noticeable longer days. All of which I think helps to focus mind and spirit on a fresh business strategy for finding new clients.

So where to start? Carefully consider who to target. Who you would like to work for and realistically who would give you the work? Define your target and customer profile. Essential characteristics to consider are:
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• Industry / market sector
• Location 
• Company size (turnover, number of employees, etc)
• Financial or commercial trends
• Their clients & target market
• Your minimum order / budget spend / account value per annum
• Your compatibility with them

Take a look through your best clients and see how they fit with your target profile. What common characteristics do they have? Can it be improved? Or would you like more that are similar or better or both?

Once you've decided on your target market, consider the following:
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• Are there enough potential companies who fit your target criteria?
• Will your target market really want your product / services?
• Can they afford your product / services?
• How often are they likely to need your product / services?
• Number and strength of competitors in your target areas

Get your strategy executed as soon as possible! Slow starts = slower development = slower results; this might not be the pace and timescale you want that new business to land within. From time to time review and revisit your target criteria. Don't be afraid to re-pivot  - be honest about your mistakes and if necessary change direction quickly.

That's it for now. Check out my future blog for more tips. Gosh I just looked outside and it is snowing!