To be in business and stay in business, you must be positioned as the go-to resource for those who you best serve. You must anticipate and remain in-step with the wants and needs of your target market. There are a lot of moving parts and many things to steal your focus. Even great organizations can suffer from distraction, overwhelm, and stagnation. Here are seven tips to revitalize and refresh.
- Re-assess your target market. Who is your target market? Who is an ideal client? Sometimes the wants and needs of the target market you served when you started your business have changed. Some of my top clients have retired, others have sold their companies. New leaders are in place with different wants, needs, and procedures. It’s important to clarify who you best serve. What do they want and need? What problem are you solving? Why is that important to them? Talk to some of your clients about their needs and why they work with you. Talk with prospective clients as well to get direct input. Don’t guess.
- Assess yourself and your organization. Why are you uniquely positioned to serve this target market? Have you added more credibility/skills/features since you started? Be able to articulate your value proposition. What are the benefits and outcome of buying from you/working with you? The information you gather in number 1 will also help here.
- Evaluate your offerings. Do they solve the problem(s) of your target market? How could your solution(s) be improved? For example, automation is key now. There is an app or online learning aspect to almost everything. How can your offering be automated, or what part can be automated? Do you have a variety of price points? Be sure not to hold too high a barrier to entry. Even high dollar clients need an opportunity to get to know you and trust you before jumping in to your elite offering (although some dive right in so be prepared for that!). Be sure your client pathway nurtures the needs of your clients for the long-term. Anticipate the next problem they will have as they grow and position your company as the go-to resource. What do you have that no one else has? One of my top offerings can never be automated, but no one in the world can offer it the way I can.
- Get rid of dead weight. What is not selling? It’s time to dump it, reposition it, or repackage it. What process is outdated and slow? What annoys you in your business? Fix it. Stop tolerating things that hold you back. Get a process for collections if you have overdue accounts. Hire a virtual assistant to keep up with administrative tasks. Get a bookkeeper. Move your website to a faster server. Automate as much of your process as possible so you can do what you do best – meet prospects, lead your team, and work with clients. Release bad clients. If you’re a solopreneur, this is especially important. Focus on deeply serving clients and generating leads.
- Learn something new. Stay fresh in your business. Go to conferences, workshops, and learn from other experts in the field. You may already be a thought leader, but there are always more thoughts to hear! Passion must be nurtured and learning is lifelong. Invest in yourself. There are also great business opportunities at learning events like partnerships, collaborations, and new clients.
- Give back. Sharing your expertise as a volunteer can be one of the most rewarding experiences. Many of my clients serve on nonprofit Boards and generously give their time, talent, and/or treasure. Others sponsor community events and programs. This is a great way to refresh your spirit while doing good. It is also a wonderful way to meet other like-minded folks, deepen connections around an important cause, and raise awareness of your business.
- Take a break. Go on a retreat, vacation, or just take some time off. Giving yourself space from your work is healthy and necessary. Many of us who own businesses blur the line between work and life. I think there is no such thing as work-life balance, it’s an integrated system that must be carefully managed for optimum performance and joy.
Finally, be sure that your website, online presence, and marketing materials are up-to-date. Have your web developer pop in some new photos and a great video that showcases your work. Owning a business can be challenging but making a positive impact in the world is so worth it. Here’s to your continued success! And if you’d like support, contact me for a 30-minute complimentary consultation.
Shari J Goodwin is a business strategist, leadership coach, speaker, two-time best-selling author, and passionate horse lover. She helps leaders build and lead businesses they love. Her latest book, Reinventing Greatness, was a Number 1 Top New Release on Amazon.