This old saying is equally true and valid when it comes to realizing your full potential for growth and market share.
How do you diagnose accurately?
The answer is – ask the right questions.
Five Questions That Help with Actionable Insights
What problems am I solving?
Walk in the shoes of your customers, and have a clear story about where and how you are making a difference for them.
What are the different applications of my product or service?
Think about every possible use case and application for your products –
Who is the end customer for each?
What makes your offering unique for that application?
What is the value you provide with each application?
Where do I focus?
For a small business, it is critical to have clarity about what not to do.
How is my online presence helping me? Or, are there more opportunities to use my online presence?
Your website and social media outreach are out there 24/7 for everyone to see. People are searching for answers and doing online research all the time. Your prospects want to know more about your products and services – and they want to know what others are saying about them.
Ignore your online presence and perish.
What are my strengths and weaknesses compared to my competition?
What are the value drivers for what you offer to customers? How do you benchmark against the competition?
From our experience, the key to bring significant growth is the mindset –
- Use real data. “In God we trust; everyone else, show me the data.”
- Have a system to organize your operations and strategy. It helps put focus on your business.
- Do your homework. When you go to market, it’s good to have a clear understanding of the market and competition.