How do you leverage your existing customer base and network when diversifying your small business?

Don’t be afraid to ask people what they need or to help you by informing what your next offer should be. I’ve seen over and over people launch products that do nothing. Where I have seen success is when your community contributes to the development, naming, and launch. These are your people, you are their guide, give them what they want!

When building customer relationships it is important to remember that all customers are using your service or purchasing your product because it provides a solution to a problem they have. Understanding the customer journey will allow you to identify additional solutions which are within your organizations strengths which can provide another touch point and create win-win outcomes. The customer is able to access additional solutions from a trusted provider.

Aprovechar la base de clientes y la red existente es esencial para diversificar una peque?a empresa. Solicitar comentarios directos de los clientes puede ser un recurso invaluable en este proceso. Al pedir sus opiniones sobre productos actuales, necesidades no satisfechas o posibles expansiones, se fomenta la participación activa. Esta retroalimentación no solo ayuda a afinar la oferta actual, sino que también proporciona ideas valiosas para nuevas líneas de productos o servicios. Este enfoque centrado en el cliente no solo fortalece las relaciones existentes, sino que también impulsa la innovación y la diversificación, fundamentales para el crecimiento empresarial.

customer feedback is a valuable resource for any business. It provides insights that are directly linked to your customers’ experiences and expectations. Regularly collecting and analyzing this feedback can help businesses understand their Customers better, improve their products or services, and identify opportunities for growth. It’s a proactive approach to customer satisfaction and can lead to stronger customer relationships, improved customer loyalty, and ultimately, business success.

Al diversificar mi peque?a empresa, maximizo el valor de mi base de clientes y red existentes mediante una comunicación proactiva. Ofrezco productos/servicios adicionales adaptados a sus necesidades, fomentando la lealtad. Utilizo plataformas digitales para compartir novedades, promociones y obtener retroalimentación. El boca a boca y recomendaciones juegan un papel clave, ampliando mi alcance a través de conexiones existentes. Mantengo un enfoque personalizado, asegurando que cada cliente se sienta valorado en esta nueva etapa de la empresa.

Yes, it is essential to innovate with customer input, otherwise you can waste resources building a solution to a problem that either doesn't exist, or isn't a problem that a customer is willing to pay for a solution to.

Testing ideas with customers and networks before making significant investments is a smart strategy. It allows businesses to validate their assumptions, measure demand, and refine their value proposition. This approach can save resources, reduce risks, and increase the chances of success. Prototypes, samples, mock-ups, landing pages, and social media are all excellent tools for this purpose.

Third-party endorsements are important. Be sure to seek input and testimonials along the customer experience journey. Often the customer provides immediate insights, be open and willing to reward those customers as they will often lead your referral campaigns.

Offering incentives and rewards can motivate them to share your business with others. Testimonials, reviews, and case studies are powerful tools for building trust and credibility. They provide social proof that your products or services deliver value, which can attract new leads and customers.

I'd add that collaboration is one of the best ways to create synergies in your business. I find others in my field that have complimenting services. For example, a bookkeeping business that doesn't offer income tax service could collaborate with an Enrolled Agent and refer clients. The bookkeeping owner could also collaborate with community lenders, realtors and insurance agents who offer services that business owners need.

Collaboration is a powerful strategy for business growth and diversification. Partnering with other businesses or professionals who share your target audience, values, or vision can lead to mutually beneficial outcomes. Joint products or services, co-hosted events or webinars, cross-promotion of offerings, and exchange of expertise or resources are all excellent ways to leverage these partnerships. This not only helps in expanding reach and exposure but also adds value to the offerings. It indeed creates win-win situations for all parties involved.

Often I encourage companies who share customer avatars to collaborate on marketing efforts. For example, I often offer and participate in joint programs with Financial Advisors, CFOs, CPAs, Attorneys, and Venture Capital sources as we share audiences.

Joining communities, groups, or forums where you can network with other small business owners is also beneficial. It provides a platform to share challenges and successes, and receive support and feedback. This can lead to new ideas, solutions, and opportunities.

Never forget the power of informational interviews! Mentorship works as well in professional settings, so don't delay asking someone who has more experience in your field for support. This is too often a missed opportunity for early-stage founders.

Leverage is the wrong word. It sounds forceful and combative. You should collaborate and consult with existing clients. So that you can identify there needs to see if it matches your own business goals and skill sets.

Usually great clients will ask and say, what else can you do for me, and that's an important question because that's your chance to showcase your full value proposition and fully diversify. Ask yourself what more do your clients need, and from there you can grow your offerings

Hay que usar las cartas que la vida te dio y las que has ido ganando en el camino. Pide referencias, explica tus servicios, que la gente sepa qué puedes hacer por los demás. Ten listo tu discurso de 30 seg y repítelo. si está bien hecho, será una declaración de principios no un intento de venta. Así las personas sabrán con quien recomendarte