Effective Habits Of Successful Small Business OwnersI got this from the
Duct Tape Marketing Blog. He cites an article in this month's issue of
Investment Advisor magazine in an article called
Stepping Up - How the Best Advisors Take Their Firms to the Next Level. It's written to investment advisors but applies well to succeeding as a small business owner. It can be summed up as formally creating the future of your business now.
Compared to the market as a whole, firms that dominated their market:
- Are 60% more likely to have annual sales goals
- Are twice as likely to use business development specialists
- Are 30% more likely to proactively seek referrals
- Secure one-third more clients through strategic partners
These are good techniques to growing profit. It's getting outside of small and thinking big. What partnerships can you make with other businesses or customers and how can you formalize them? What opportunities can you identify, research, and analyze to grow your business and/or develop new products? These details can make the difference between stagnation and the continual growth of your business.
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