Are all Your eggs in one basket?
Where are all your enquiries coming from? If it’s just from one or even just two sources, this may become a major issue for your business. One colleague I know was getting 90% of his business from a single department of a telco, then they got a new CEO who sacked the whole department. This person didn’t really have a business, he had a job with overheads and wasn’t in control of his destiny.
Supermarkets often source their home brands from small business for whom the supermarket provides most their business and to whom they are hostages. Other businesses I know depend on one or two referral sources. What happens if a competitor comes and forms a better relationship with the referrer?
I have even seen businesses that depend totally on Google SEO only to have Google change their algorithm one day, and their prized page 1 position was no more.
Even if your business is doing well, having all your enquiry eggs in a single basket is a risk. You are a hostage to fortune.
There are 4 ways to market your business: Advertising, Public Relations, Word of Mouth and Cold Calling. Many businesses don’t just rely on one of these marketing strategies, they rely on a single channel within that strategy.
Even if you don’t rely on just 1 or 2 enquiry generators, think about on what you might be missing out on by not spreading your net more widely. Creating a comprehensive Marketing Plan covering all strategies produces the best results and minimises the risk of having too many eggs in the same basket.
To find out how you can spread your net wider, and get a fr.e copy of my Profit Driver Toolkit click here.
May Your Business Be – As You Plan It.
Dr Greg Chapman – The Profit Whisperer
Learn more about how these marketing strategies would work in your business when you request a Free Preview copy of the best selling Small Business book; The Five Pillars of Guaranteed Business Success
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