2 Things A New Small Business Must Do
November 20, 2009
When you start a new small business, there are two things you must spend 80% of your time on:
1) Finding new customers – through marketing.
2) Keeping the customers you already have – by meeting their expectations.
If you’re spending too much time on activities that don’t help you do those two things, your new small business will fail. Think about how you can cut them down or eliminate them completely.
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24 Responses to “2 Things A New Small Business Must Do”
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I think planning always matter when you think about selling. Put a minimum goal and then try to find your strength and weakness and then plan your schedule according to that.
Hi Cath,
It’s funny to see this post (hey, so brief!) today because I just published my new eBook on starting a business. I sent you a copy — did you like it?
Keeping the existing customers happy by doing a good job is so important. Often, we are so busy “marketing” to the new people we forget we already have quite a few customers who love us.
Akemi
Akemi – Yes to Me’s last blog post..My eBook On Spiritual Entrepreneurship
Hi Arafat – That is so true – proper planning is always needed. I like your idea of setting yourself a minimum target, then finding your strengths and weaknesses.
Hi Akemi – I got the ebook thank you – it’s great. I’m going to mention it to my readers in a post, so they can benefit from it too.
Cell phone companies and banks in the UK always seem to be too busy marketing to existing customers. It’s like they don’t seem to realise the cost of keeping a customer compared to the cost of getting a new one.
HI Cath. And… if the customers you already have are pleased, they can help out through word-of-mouth marketing too. And the other 20%..? Is that for sleeping, eating and other human needs? I think I probably sleep and daydream more than that allotted time.
Davina’s last blog post..A Yogi Twists A Business Pitch
Hi Cath ..Finally I got here .. been meaning to come for ages. It looks like you’ve got lots of interesting information .. I’ll be back to take a better look and will be subscribing.
The most important is keeping your present customers, if you look after them they’ll help you and you’ll have a core business, which at times without upsetting these core customers will allow you to reach out and see how you can get new customers, without disadvantaging your present group.
I think I agree with Davina .. 20% for sleeping .. and hibernating now it’s winter!
Go well have a good weekend – and the twilight!
Hilary Melton-Butcher
Positive Letters Inspirational Stories
LOL Davina – I slipped up – I should have said 80% of your working day. Daydreaming is always good – helps you come up with ideas.
I think for your type of business, some of the 20% might be spent on doing repetitive tasks and things like your accounts. A lot of the 20% stuff are probably things you could think about outsourcing later on.
Hi Hilary – Thanks for taking the time to drop by. As you say, there’s no need to let your existing customers down to gain new ones. And controlling your growth early on helps to make sure you’re able to give your existing customers what you want.
Cath Lawson’s last blog post..2 Things A New Business Must Do
Cath — I was like Akemi! I read through the post and starting looking for the “read more…” Then I read it again and realized you really didn’t need to say more. Message delivered and received:~)
Sara’s last blog post..The Journey Begins: Part Two
True, and important, especially with social media, which can be used judiciously and bring great results, or become a huge time sucker!
vered | blogger for hire’s last blog post..Genetic Testing for Children: Would You Do It?
LOL Sara – I hadn’t done a short post for ages and I didn’t want to go OTT on the subject.
Hi Vered – That is true. I know it takes a while to measure the results you get from social media but I’m betting far too few people do it.
Cath Lawson’s last blog post..2 Things A New Business Must Do
Cath…I too sort of hunted around at the beginning thinking there had to be more to the post…
then I read it again and realized that it said everything it needed to say…in fact, it was hard to ignore the two points made because they were not cloaked in paragraphs of unnecessary words and mumbled jargon.
Straight forward and to the point…
Thank you…now, I am off to explore your blog some more!
Kathy
Kathy Dobson’s last blog post..Companionship
Thanks Kathy – Looking back at some of my old posts – I can go on a bit too much sometimes, so I try to do a short one now and again.
Wow, short and sweet. And accurate, I’d say.
This sums up what my hubby’s m.o. is all about. And man, does he sell some cars!
Fannie Junster’s last blog post..Bag Children At The Park
I like your precision and clarity.
I agree – without customers, a business is a hobby
J.D. Meier’s last blog post..What 16 Movies Can Teach Us About Life and Leadership
Thanks JD – I like that quote too – I may borrow it from you in the future.
Hi Jannie – If he’s still selling lots of cars in this economy he must be good.
Cath,
How do you manage to convey simple truths with such brevity? This is a masterpiece.
Rita’s last blog post..That Awful Four-Letter Word That I Won’t Use
Thanks Rita – I think you’re exaggerating though. I’m coming over to talk about your first post now. I love your new blog. I read it this morning but bloody internet keeps going off cos of this bad weather.
I just read something hilarious right now. It has rained more or less none stop here for days. A lot of places in the county are really badly flooded. I have been asleep for hours but the rain woke me up again.
Anyway – I just opened an email from the OU. I’m studing a business course with them. It starts out by saying how bad they feel for students in the county – offering help if we’ve been affected etc etc.
Then on to the last paragraph – “With more heavy rainfall forecast I know that the worse is not yet over.”
I know they didn’t mean it to sound bad but what a way to make folk feel better. I’m LMAO – it’s just one of those letters that sounds funny when it shouldn’t.
Cath Lawson’s last blog post..2 Things A New Business Must Do
Hello Cath,
A brief post, but profound statements usually are short and to the point! Two very excellent points and, of course, you are so very right. These are two things that any business must do. even ones that have been around for years!
Great Job Cath!
Keith’s last blog post..Choose Your Path!
Wow this was short and sweet and just right…true, true, and more true. Thank you
I want to read Akemi’s new e book but not on my own computer until next week.
UNICEF e book went up today….would like your opinion on it too.
Very good …liked this post very much
Even my comments are too long!
patricia’s last blog post..Harvest Potluck UNICEF Fundraiser
Hi Keith – Thanks. They seem obvious don’t they? But too many businesses spend too much of their time doing things that help them achieve nothing.
Hi Patricia – I’m looking forward to reading Akemi’s book and yours too and I will be happy to give you feedback on it.
And there’s nothing wrong with long comments – I like reading them.
I can cut it down to even further, down to just one step.
1. Do your job, in order to maintain a steady stream of revenue so that you can support yourself.
Friar’s last blog post..Friar’s Ass-Hat Cartoon Hall of Fame
LOL Friar – It’s just as well we’re not collaberating on a book on the topic – it wouldn’t be very long.
Cath Lawson’s last blog post..2 Things A New Business Must Do
As odd as it may sound to some, I’ve also found that focusing on #2 can actually bring you more of #1
… too bad so many people spend such a great majority of their time on #1.
Todd Morris’s last blog post..Todd’s Best Home Business Tips
Hi Cath,
I read your post , It is absolutely correct many of the new business should follow this method finding new customers and also making happy with the existing customers. They should spend their time 80% in business and not to waste the time in other activities.
Thank you.