— Neil F. Anderson, Founder & President, The Courage Group, Inc.
Now days, it’s tough for any business, regardless of size, to successfully compete and win new business.
The days of signing up new clients or customers with ease are long gone. The past recession, the anemic economy, the fierce competition and impact of the internet have all made it very difficult to close the sale. Now you have to fight “tooth and nail” to get more new customers.
Breaking News: The reasons really don’t matter. What matters most is generating revenue, continuing to pay the bills, grow the business and stay out of the business failure graveyard.
What will help? Three words-offer more value. Try this strategy on for size, always give people more value for their hard earned money.
Eight Offering More Value Tips
1. Do Your Homework-To win new business, by adding more value, you first need to know what the other guy is doing. That means updating or writing your business plan.
A business plan is simply a written description of what you are going to do and how you are going to do it. It is your roadmap to success.
One of the best reasons for writing a business plan is that it will force you to examine your competition. You can’t add value to your products or services until you have a strong understanding of what your competitors are offering.
Note-Check out the below entrepreneurs, who recognized the value of writing a business plan. Recognized the opportunity to add more value, based on their knowledge of the competition, then delivered it in order to win business and successfully grow the company.
* Phil Knight/Founder of Nike/Annual Revenue-$24 BB/44,000 employees
* Fred Smith/Founder of FedEx/Annual Revenue-$46BB/300,000 employees
* Jim Koch/Co-Founder/Sam Adams/Annual Revenue/$794MM/840 employees
* Jeff Bezos/Founder of Amazon.com/Annual Revenue-$74MM/132,000 employees