Want A More Profitable 2016? Here Are Five Simple Steps.

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Most people start a business because they are good at something. And they want to make more money for themselves, not their employer. However, working for yourself is very different when you have to work IN and ON your own business. Perhaps you have a business plan. Is it in the bottom of the drawer never seeing the light of day? Did you put one together simply to satisfy your bank manager?

Whatever the reason for being in business, once you’re there you do need to have a strategy for either sustaining the business or growing the business. Strategic planning needn’t be arduous, but it does need to be focused on. Spend some time shaping a plan for your business by viewing it from the proper perspective and have a more profitable 2016.

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Follow these five simple steps, and ensure you are on the right track.

1. Play To Win:

Be realistic, and be positive. Regardless of whether your Accountant is the New Year Grinch or  not, to make the most of 2016 opportunities you need to be speaking to a Marketer. Marketers help you make SALES! Gain customers! There are very cost-effective marketing ideas that may suit your business. A marketing professional will help you have a more profitable 2016 with things such as;

  • Who is your specific target audience?
  • How will you identify them easily?
  • What is the best way to contact them?
  • What are the quickest channels to market?
  • Where should you put the most effort, and dollars?
  • Where do your customers seek their information on your product or service?
  • Who ultimately makes the purchasing decision?
  • What is their purchasing behaviour?

A small investment in professional marketing services WILL save you time, heartache and ultimately a lot more money on wasted efforts to attract sales.

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2. Talk to Your Customers

Your own customers can provide valuable insights that will help with your marketing. Contact customers and ask them the same four or five questions. Such as “What do you value most about doing business with us?” and “Is there something important we could provide to your business and don’t?” and “Do you have any ideas about how we could do things better?”

After talking to perhaps 10 – 15 customers, you might see common threads or trends emerging. Use this feedback to make plans for any improvements, growth opportunities, cancellation of product lines, etc, depending on the feedback.

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3. Be discerning

Talking to customers is one thing; acting upon every suggestion is quite another. So temper their feedback with your own common sense and knowledge of your business. A relatively fool-proof way  to gauge what direction to take is to ask similar questions of NON customers – but those who could be potential customers.

For example, if your target is fishermen, talk to people who ARE fishermen but who aren’t currently your customers. Or if your target is women aged 25 – 45, ask women aged 25 – 45 who aren’t currently your customers. So… instead of asking   “What do you value most about doing business with us?” you might ask  “What do you value most about doing business with a fishing store?”

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4. Keep Your Team Engaged

Keep your team informed of your plans and involved in the implementation. Don’t keep them in the dark. By empowering staff and being honest, you may find they become the best Ambassadors for your business. And they will likely come up with ideas too. If you are a micro-business or a sole trader and don’t have staff, involve people who are key to your business – such as trusted suppliers.

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5. Set Fewer Priorities

It’s great to come up with ideas but don’t try to implement them all. If you brainstorm and come up with a variety of options, pick only one or two and then FOCUS on them!

I promise you, you won’t waste your time going through these five important steps and you may just come out further on top than you expected.

For other great tips, see Three Top Ways to Persuade a Customer and Marketing on a Shoestring Budget




One Response to “Want A More Profitable 2016? Here Are Five Simple Steps.”
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  1. […] out some other popular posts including marketing on a shoestring, five simple steps to make 2016 more profitable, and ideas to pitch to the media to get publicity for your […]


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