7 Tips to Regain Lost Revenue
I work with many individuals and their respective businesses that suffer from revenue gain. Many blame politics, the economy, etc. It is very easy to play the victim. Business owners love using victimology to create excuses as to why business is off.
The issue with victimization is that a) it does not repair revenue and b) it only creates more depression. When business is bad, you need to think like the athlete in a slump; return to basics and get your butt back in the game!
You might ask, what do I mean by a return to basics? Start by going back to the core issues that helped to create the organization in the first place. Seek out what brought the company to elevation and what brought it down. What I typically find is many entrepreneurs forget the most important company idea – working the pipeline. So here are a few things to consider:
1. Pipeline Management – if you want business then you must ensure for not only present but future growth. 15% of every day must be focused on networking and creating new leads.
2. Marketing – It is amazing how poorly many articulate the message. You must speak to the value you provide and the issues customers currently face. Speaking about you, clients you have does not matter – results and returns are imperative.
3. Messaging – Do you have a value proposition based on value? If you are unclear of what you do how is your client to understand?
4. Promotion – 15% of your day must be invested with sending your message to multiple markets. In 2017 branding will be vital and if you do not have a brand that consumers know you will be lost in the ocean of marketing noise.
5. Customer Service – If you reputation sucks and you are poor with customer service you will never get business! Consumers are your best marketing avatars.
6. Pride – Stop allowing pride to get in your way. Who cares if you are the CEO? If you are unwilling to work as hard as your sales and marketing team or you sit in a cushy office behind a big desk, that does not articulate value to your potential consumers. Even the best CEO’s market!
7. Disruption – There is nothing, and I mean nothing, new under the sun. You have competition and you must position yourself differently from them. If you do not think in terms of disruption, you will never be known.