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:
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:
The above is some broad guidance to help work out the future. For my thoughts on your specific situation, get in touch.
Puzzles and conundrums interest me, so unsurprisingly I like tackling new business challenges as well. But why do some some businesses flourish and others flounder?
Having a successful and growing business is more likely to be a long process with ups and downs, trials and errors along the way - so don't be fooled by those overnight success stories.
But you can tip the balance so it is more in your favour by avoiding some common mistakes:
Of course, if you need any help with the above then let's talk!
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:
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:
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!