Sales | by Tom Woodcock | 07/27/2009
The easy thing to do when markets get tight and business slows is to blame the economy or external factors. As your traditional customer base slows down, you slow down, causing you to struggle to maintain revenue levels.
Unfortunately, this is simply an excuse. When we aren't challenged to expand our customer base we usually don't. As I travel around the country I hear people talk about pricing competition, dwindling demand or the lack of financing available.
Let me give you a very simple solution: expand your customer base.
Though this may seem elementary, few actually apply it. Expanding your base can occur in two fashions:
There is no such thing as a finite pool of business opportunity, merely the limitations of our own efforts. Setting sales strategies to aggressively approach these business pools is essential to success.
Doing the basic research necessary by reviewing websites, past projects, network connections or marketing materials can give you a leg up in qualifying the new clients you will approach.
Doing nothing is a guarantee of lesser results than previous years. Not having a plan is conducive to failure.
Spreading your base will also solidify your market position and financial health when the economy rights itself. All in all, widen that business backside as much as possible!