This is the second edition of Mike’s Business Addiction. I am under the firm belief that three general steps exist with every business transaction. I also believe two of these steps are commonly forgotten or neglected. We’re going to cover the first one this week.
STEP 1: PREPARATION
Preparation is one of the commonly neglected steps in the business transaction. Planning is incredibly important so stop forgetting about it. You need to know where your clients are before they make the decision to use your services. This is where you need to focus your marketing and start building the relationship. The first step of preparation is where you need to start creating expectations for a future client.
Not only do you need to prepare your future customer but you also need to prepare your operations. You need to make sure your business is ready to take on more work. Knowledge of your limitations should influence how your marketing is directed. How many people are hearing your message? How many will utilize your services? Will you continuing to service these customers or are they replacing others?
Please note that plans are always changing and adapting. Basically, you also need to prepare to prepare… contingency planning can save a business if expectations are not met. Everything you can do prior to the next step will only make that phase easier for all of the stakeholders involved. We’ll discuss that next week!
Thanks & God bless,
CEO or Whatever