Any Potential Obstacles on Your Horizon?

Obstacle Avoidance Questionnaire

It’s a busy time year for many businesses right now. There are a multitude of reasons why you might not have the time to work on your business. Sure it’s hectic and there are day to day issues which arise that grab your attention but there is a massive obstacle up ahead and unless you take corrective action you are going to crash right into it.
In five to six months you and your team members will be sitting around with nothing to do and little to no cash flow coming in after the Christmas onslaught.

So right now is the perfect time to start planning on how to keep the customers coming in and your team busy through the quieter months in the new year.

Below is a quick checklist that you can score yourself on to determine just how ready you are to keep things ticking over.

  1. There’s little contact with your major customers (you may not even know who your best customers are) therefore you are sitting around waiting for them to come to you.
  2. There’s no formal system of identifying areas where you could further assistance your customers. Customers strictly buy what they want from you and leave with little knowledge of other goods/services you might offer.
  3. There’s total focus on processing customers as quickly as possible as there is no capacity to look at the customers broader problems that you could assist them with in the future.
  4. There’s “no time” to embrace new systems or introduce new offerings, product lines or services.
  5. There is no opportunity to learn or practice new skills so time spent on training is wasted.
  6. The leadership team has been distracted – spending all their time fighting fires allowing no time for forward planning or implementing important projects.
  7. You have previously identified some important trends or initiatives but can never find the time or resources to implement or successfully develop them.
  8. You don’t have a formal system of gathering customer information, you do not record where new customers come from and you keep no statistics regarding the number of return customers each year, or the number of conversions from prospect to paying customer.
  9. You do not track actual outcomes from marketing activity (i.e. return on investment).
  10. You do not have a system for telling customers about additional goods or services you provide.
  11. You do not have a database of prospective customers that you market to regularly.
  12. Team members are neither, trained or encouraged to bring new customers to your business.
  13. You have listened to profound, compelling, practical tips for growing your business but have basically implemented very little.
  14. You have not invested the time and energy to determine your preferred customer profile, worked out a compelling value proposition for such customers, put a plan in place to increase your exposure to prospects matching your criteria or developed alliances with businesses which also service these customers. In fact, there are few genuine points of difference to distinguish you from your competitors.

 

Richard Kemp – Watts Price Accountants
E: richardk@wattsprice.com.au

The advice provided on this Article is general advice only. It has been prepared without taking into account your objectives, financial situation or needs.