The one thing you need to do to double your business
Tim Sargeant
I believe strategy is the unique value you want to bring to market. I help CEOs figure out how to win.
In some ways doubling the size of your business is hard, very hard.
In other ways it’s actually quite simple.
Regardless of whether you’re a retailer, a brand builder, a builder, a technology company, a consultant or an industrial company there’s one thing we all have to do to double our business.
Double the number of customers you serve.
It’s just how we do that that’s different.
If you’re a retailer you have to double our number of stores (or double your awareness if you’re an online pure play)
If you’re a brand builder you need to either grow the number of people who buy your brand (through building awareness and distribution in existing markets or extending into new markets) or you need to create new brands that appeal to different customer groups.
If you’re a builder you need to build and sell twice as many houses, office towers or industrial sites.
If you’re a technology company, a Google or Facebook, you need to double your user base so advertisers on your site can reach twice as many people.
If you’re a consultant you need twice as many clients.
The bottom line is that every business needs to serve more customers if it wants to grow sustainably.
If you’re a brewer you find that a drinker of one brand drinks a similar amount to a drinker of another brand; if you’re a retailer you find that a typical customer buys the same as another customer; if you’re a consultant then the service you provide one client is similar to the service you provide another (on average).
The ease with which you grow your client base is a function of the appeal of your offering.
If customers love your offer you will grow your customer base fast; if they hate what you do then the road ahead is a hard one.
People love solutions that are relevant and unique. They love the Mini’s, the ALDI’s, the Wegman’s, the Timpson’s, the Chick-Fil-A’s of the world.
How appealing is your product or service? How will you double your customer base?
If you want help doubling your business visit www.marketmaverick.com.au
CEO. OPTIMIST.
7 年I worked for an agency that had over 100 clients. The first thing I did was cut that number to 20. The second thing I did was double the hourly rates. The third thing was to ensure our team learned the clients business, their challenges and their opportunities. The forth thing was to provide them with real solutions. I'm a big believer in bigger is not necessarily better.
CEO The Luxury Network, shareholder NZ Jet / Heletranz
7 年We work a lot with brand collaborations! Great article, thanks