Thursday, 11 June 2009

What keeps you awake at night...?

15 events in the last three weeks... about 1,500 people and all asked the same question: "What keeps you awake at night... about your business?"

The top two answers haven't changed over the past 12 months that I have been asking the question and the top two are:
  • how to get more/better customers?
  • how to get more profit/cash?
However new themes have been emerging that concentrate on the competition: "How can we compete on price...? how can we stop people migrating to the competition...? the competition are stealing a march on us..."

I am not sure if this isn't just a deflection from the real issues which are/were (for a recent consultancy client [professional service firm]):
  • get and keep the cash longer,
  • sell more to existing customers,
  • use existing clients and potential clients (friends and lovers) to reach new clients
  • do not discount prices but charge more where possible and justify the value-add
  • eliminate fruitless task/clients/marketing activities: just do a few basic things and do them stunningly well..., and underlying it all...
  • an obsession with the numbers on a weekly (if not daily) basis
In this case, the new seminar obsession ("competition, competition, competition") is simply not the big issue...
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