Getting Ready for the Business Development Race
A difficult economy means that your customers are taking longer to decide if they want to spend money with your printing company. This “wait and see” game may go on for months, perhaps years. In the meantime, your business has its own objectives to meet, and bills to pay. Reducing expenses can only take an organization so far to profitability.
Realize that you are engaged in the race of business development. Take the time now to consider these thoughts for taking your printing company to a higher level of success in every aspect of your sales and marketing efforts.
First ask and answer the question “what business am I really in?” Am I a quick printer? Digital printer? Commercial printer? Graphics company? Communications company? It sounds so simple, but is it really? Over the course of the last few years, entire markets have appeared and grown, others disappeared. Your customer base has likely changed, if not in size, perhaps in scope. Take time to think about the past, your present and the future. What needs do you address? What problems do you solve for your customers?
Secondly rethink your competitive advantage related to your core business. Do you have a competitive advantage? Are there breakthrough opportunities on the horizon? Do you have the resources to successfully communicate your unique selling position? What is it that you do better than anyone else?
Related to the second thought, determine exactly who your best customer is. Is this a customer of the past, present or future? Whom do you want to be doing business with? What is it about this type of customer that makes them desirable? Write down those characteristics because this exercise will define your ideal customer, the one that will move you towards your business goals.
Very few individuals in business have ever taken the time to write a business plan, a document that allows them to think through their entire business, the competitive external environment and in the end, requires them to develop a course of action that will move them forward. Develop a One Page Business Plan that can be used as a communication tool to everyone in the company.
Lastly analyze your source of past business and determine what tools were employed to gain those customers. In short, the rule states “determine what marketing works best for you then do it better each day.” Time is money, and money is tight, so stick with what works.