How To Grow Your Small Business Tip Of The Week
Posted by Vicki Donlan on Fri, Jul 23, 2010 @ 10:14 AM
As an entrepreneur and small business owner you have strengths and weaknesses. Too often you focus on your weakness believing that by conquering it your business will grow. However while doing this you forget that your business growth has come when you utilize your strength. You must ask yourself three simple questions:
(1) Who are my best clients?
(2) Why do they do business with me and my company?
(3) What do they have in common?
Paying attention to where your success has come from allows you to expand those areas of your expertise or market and continue to build from it. For example, if you sell investment services and you realize that your clients are all small business people you clearly speak their language and you should continue to focus on this niche. Trying to build a new clientele in an area that has not been successful for you before - for example, doctors - just because you believe they are in need of your services will most likely be counterproductive as you will be spending your time and energy on a niche that has not, at least in the past, been attracted to you and your business.
The one commodity all small business people and entrepreneurs have in common is their time. There are only 24 hours in each day and 7 days in each week. When you spend your time on reaching out and building your business with the niche market that has already proven to be attracted to you - you will be the most successful.