QUICK TIPS
Reinforce Strengths - then Expand!
Author: Jim Laero 02/01/13
Every well-built structure has a strong foundation beneath. And the greater the structure above the foundation - the stronger, deeper and wider must be the foundation.
If you are considering branching out into new markets or simply adding more to your customer base in an existing market, first carefully consider what you will need to hold it up. What will you need to put into place to carry out the marketing and business development plan? How much will the foundation need to hold while the plan is in effect, and is what you have in place now (business processes and staff) adequate to begin or will you need to reinforce it?
But before you begin, review your existing customer base and ask yourself, "Is there anything I can do right now to reinforce what I already have before expanding?" Moving forward without being sure of the strength of your existing client base can spell disaster.
Conclusion: The marketing and business development process is a very time consuming endeavor. It will put a strain on your time and resources. Protect your current position by first reinforcing your existing positions of strength - then expand.
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