Ten Steps to Grow Business in 2010

May 2, 2010 at 11:48 pm Leave a comment

Spring is upon us, and in the economy, as in nature, there are weak yet hopeful indications of life. The business world has undergone cataclysmic change.  Yet even in the hardest hit industries, there are pockets of activity and growth waiting to be discovered. Successful, surviving businesses will be those that anticipate the market and keep pace with the ever-accelerating rate of change.  How can you find opportunties for growth for your business? Consider the following ten step process.

1. Think globally.  What changes do you see in the world, and in the world business community?   

2. Consider your industry.  What changes do you see?

3. Consider your customers. What changes are they experiencing?

4. Think about customers at the next higher tier.  What are they looking for now?

5. Given the above observations, what trends do you see?  What projections can you make for market needs?

6. Consider your resources – not just your current business products or services, but all the resources you have in your business and in your personal experience.

7. With the market needs you’ve projected and the resources you have, what products or services can you make or invent that will meet current and future market needs?

8. Which of these products are profitable and consistent with your personal direction and values?

9. A successful product or service must be in a class by itself.  It must create “buzz.”  Does your product or service do this?  Don’t give up until you have developed a product or service which is the best choice for your targeted customer.

10. What is the best strategy to get your targeted customer to buy your product or service? Be smart in taking your product to market. Use new marketing and communications channels as appropriate to  link up with your new targeted customer. 

There are always opportunities.  Today, more than ever, business growth and survival depends on adaptability, flexibility and thriving on change.  Reinvention is constant, and the pace is ever-increasing.  Successful businesses will be those which are constantly strategizing and innovating to anticipate and meet customer needs.

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