So as I continue on the huge learning curve that is running a business, I’m tackling the first major challenge. Just for context, some of you may already know that instead of returning to my corporate career post The Nippers arrival, I joined the family business. I’m not going to lie, its still a big adjustment every day.
Having found that there is a requirement to wear a different hat pretty much every minute of the day i.e. ordering office suppliers, pitching to partners, fixing the photocopier (again), the current challenge is generating business. Historically our little firm has done exceptionally well on client referrals and repeat business. But that can only take you so far I guess and add the fact that there is now another household to support, we need to take some structured action in the form of a scary word starting with M.
I’ve been doing a little research and it seems there are LOADS of people out there that can help. Great. However, a large proportion of them require LOADS of money. Not so great. So I’m trying to work out how much we can do ourself and how much we’re going to need some help on. First things first, we need a plan and I’m aiming for it to cover off the following
1) Conduct an overall assessment of what we have in terms of marketing materials
As with most businesses, ours has evolved over time so we’ve ended up with good content split over a hotchpotch of designs and format which means no recognisable branding or easy point of reference for the client
2) Set our Goals
We really need to get this pinned down before we drift along and find ourselves……..well, right where we currently are
3) Define our target audience
We can’t be all things to all men (or women!). We really need to identify who is going to gain the most benefit from our product offering and ultimately spend money with us.
4) Tactics, budgets and resources
Essentially, what do we want to do, what can we actually do and how much time do we actually have to fit this in with our day to day operations. Sales channels, costs and the anticipated return on these investments all needs to be mapped out.
5) Evaluate and Change
If something works, do more of it. If something doesn’t work, bin it. Simples.
Right, we have a structure to get this thing going now I just need to put some specific content to it and hold myself accountable. I just need to fix the photocopier again first!
“There are three kinds of companies.
Those that make things happen.
Those that watch things happen.
Those that wonder what happened…”
— Marketing Management by Philip Kotier