Business owner, please stop fixating on what the stock market is doing, what politicians are saying, or what reporters are guessing will happen. Instead, this business coach recommends that you go fishing. Am I nuts? While my 10-year old boy and I love to fish together, I'm not suggesting you go catch fish ... unless you desperately need a mental break. What I'm suggesting is that you fish for and catch more customers! Time to put more fishing lines in the water!
While you can't control what's on the news or happening in the economy, you can always control how you react. If things are slowing down for your business, put worry time into marketing time. Be creative enough and bold enough to intensify your marketing ... communicating to and influencing large groups of your customers, prospects, and referral sources.
It all starts with the right mindset. Above all else, remember you are in the business of MARKETING. You and your company's top priority should be attracting, serving, retaining and multiplying customers. And of all your marketing right now, retaining and satisfying your current customers should be JOB #1. Get everyone on your team to focus on that critical mission now so you keep the customers you have!
Marketing is simply on-going education. You are educating customers, prospects and referral sources why it's in their best interest to do, and continue to do, business with your company. Particularly during these crazy times, who is in charge of this for your company? If no one, be warned! You are thinking and acting like a technician, not a business leader.
With the right marketing mindset and strategies you will have a fighting chance in a tough economy. As owner, keep your mind elevated and focused on what truly drives customers and revenue into your business ... marketing does! There is no better or higher use of your time and talents than to think about strategies to attract, retain, and grow your customers.
Here is another business coaching suggestion. Put more fishing lines in the water. My boy and I do this if the fishing is getting more difficult and we are catching less fish. Instead of having only two lines in, we may add one or two more. By simply adding two more lines, we effectively increase our fishing capacity 100%. Similarly, have you grown your marketing capacity during tough times? How many marketing lines do you currently have in your marketplace right now? As a business coach, allow me to challenge you. Why not increase your marketing capacity by at least 30% in these slower times?
For the limited purpose of this business coaching blog, I simply wanted you to think about the number of fishing lines (marketing strategies and programs) you currently have in place and to make a commitment to drop more lines in the water. For example, if you currently have three primary marketing strategies in place, think about adding a fourth or maybe even a fifth line. If so, you will increase your "customer-catching capacity" by a staggering 33% or 67%, respectively. Add three more lines to your original three and you will have doubled your catching capacity ... a 100% marketing capacity improvement. In a slower economy, fight the urge to cut back in marketing. Now is the time to get more lines in the water to increase your chance for a continuous and bountiful harvest.
If you want immediate and practical marketing insights, click here to download my business coaching book and you will discover chapter 8 is full of low-cost and effective marketing strategies.
Or, click here to talk to one of our professional business coaches and they can guide you through your marketing challenges and opportunities with our powerful and money-back guaranteed coaching process.
I want to recognize my outstanding business coach in Omaha, Mark Eldridge, for inspiring this business coaching blog. We had a recent and brief phone discussion on this topic. He is a business owner who knows how to fish and increase his catching capacity. Thanks Mark.
Happy Fishin' everyone!
Daniel M. Murphy
The Growth Coach
Business Coaching Franchise System