Love this time of Year! 🙂
I’m enjoying a nice morning with no work pressure, a great coffee, birds singing and it’s not cold or too hot. I find this time of year is such a great time to start planning 2017.
If you are wanting to do some strategic business development thinking for 2017, I’ll be sharing a few tips and strategies over the next couple days that will help. And as always, PM me or email if you have specific questions.
Step 1: WHERE’S YOUR DEPARTURE POINT?
It would be absurd to go into a travel agent and say,
“We want to go to New York…can’t confirm which airport we will be departing from…but can you tell us your best deal and route?”
First step in planning your #businessdevelopment is to know your starting point. Second most important step is to know where you want to go. I find many businesses are good at knowing the target, the destination but fail to reflect on the starting point. Therefore their strategies are no where near as effective as they could be.
You may have read my CLEAR business planning acronym in a previous post.
- Looking for?
- Actions required?
The CLEAR business development system is quick, simple and helps you cover the essentials and identify your starting point as well as where you are going.
Who were your best and most profitable customers in 2016? Make a list. It helps the brain process data when it’s on paper because you only have so much RAM (working memory) in your computer-brain to hold ‘stuff’ and think of new stuff.
Typically a business has around 3 different core customer types. Generalisation but I find most businesses will have the ‘B’ customers, the ‘bread and butter’ customers that are steady, always there and generate a large portion of revenue. Bread and Butter B customers keep the cashflow going, keep the business machine oiled.
Then there are the ‘A’ customers that are Awesome and buy big and pay well and are profitable. They tend to be less frequent or less in number, but still essential.
Then there are the ‘C’ customers that cost you time and money to service. You know the ones. 🙂 They might be Cocky or Complainers and take a lot of your time. Remember, you CAN’T buy more time! once gone it is gone. Therefore what would be more beneficial to your business…to spend time on the A and B customers or the C’s? Every 20mins with a C customer is time you could have been wowing an A and B customer so they become raving fans and recommend you to more A and B Customers.
Get clear on which customers you want more of and the percentage mix of A and B and C customers.
For example, I’m a big fan of working less and earning more. Therefore I recommend:
1. Reviewing the ‘C’ customers you need to cut loose. You can do this by raising the price of the current deal they are attracted to or currently on. They will leave of their own accord…and you will be grateful! One of the best ways to increase productivity and profits is to reduce your C customers.
2. Look at what you are doing, saying, promoting to attract the C’s. Fix it!
3. Look at your own thinking. It all starts with you and your thoughts. This can be a harder one to tackle and identify and you may need my help. Do you believe you only deserve C customers?
Now you have cleared up your plan for the C customers, estimate your current number of A and B customers (preferably on paper) and decide how many you want to have in 2017.
I suggest 3 month goals. For example:
By March 2017 I have 5 A customers, 15 B customers.
By June 2017 I have 8 A customers, 27 B customers
etc etc etc
I’ll end here.
In summary, get clear on where you are starting. Identify your current customer mix. Make a plan to reduce your C customers. Set targets for the number of A and B customers you want.
In Part 2 I’ll cover the CLEAR step of identifying what your customers are looking for.