Business Articles

Stop! Are you ready to attract new business?

The most common question I am asked is 'how can I attract new business?'

Naturally any one of us can list dozens of ways to attract new business.
But! (and there is usually a But) what if you're not ready to handle any new business that transpires as a result of hints and tips given by others.

Many companies (and sole traders) put up their 'Open' signs before they are actually ready to receive (new) business.

Your website might be live (and spell checked) and your bank account might be open. You may have stock ready to sell (or any number of positive scenarios), But! before you start trading or receive an increase in traffic, have you taken care of the important things, like;
procedures for capturing client data (names and addresses for mailouts etc)
inventory/stock controls
disclaimers on service agreements / warranties / refund procedures
notified (or intend to) HMCE that you are trading
accounting procedures
sickness cover
arranged insurances (where necessary)

These are just several tasks you should add to your checklist.

Please post further items here so that we may all benefit.

Failing to prepare for increases in business can in some cases reduce your overall turnover, as customer dissatisfaction levels increase and negative word-of-mouth takes over. 'dont use XYZ company as they are hopeless at returning emails' or ABC company didn't value my custom' are just two examples of comments that can prove disastrous to your reputation.

Don't embark on a marketing campaign (or even open for business) unless you are sure you can handle the extra business.

Be honest with yourself - can you handle any extra business?
If the answer is no (or even a shaky yes) then delay seeking new business until you have planned accordingly.

Source: Inzvestor

 

 

All articles reproduced with permission from This Is Your Business