Monday, 20 October 2008

Business Growth By Keeping it Small

I am currently working with some clients advising them on how to grow. When we talk about business growth we tend to think about hiring more people, getting new premises or expanding internationally. But often growth is about building on what you doing best; about focusing on your strengths, increasing customer service, charging more for what you do, innovating your products and services, reinventing your offering and keeping it fresh. Being the market leader in a defined market niche rather than getting lost in a crowded market where you’ll fail to stand out.

For my current projects I have been talking with my clients’ customers, asking them why they like using the company’s services. And the answers are fascinating (but they don’t surprise me).

They all like using my clients because they are small. They like the fact that they know the staff, that they have an intimate and flexible relationship, that they are personable and not a big faceless organisation. They like the fact that the company owners are still hands-on. If my clients embarked on a traditional growth strategy, they may alienate their customers.

So remember, to succeed in business you don’t have to be the biggest, have the most staff, or the most number of offices. It’s smarter than that – it’s about occupying and servicing a distinct market niche. Being 150% good at what you do, having a great bunch of people and keeping it fresh.

1 comment:

zang said...

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