Read/Listen to Interview with Terrie Wheeler on
Growing Your Business in a Tight Economy

Tip #1 – Keep Your Eye on the Ball.
We have all heard the adages, "If you fail to plan, you plan to fail." and "It is better to attempt great things and fail than to attempt nothing at all and succeed." These statements reinforce the importance of knowing where your business is going – to plan for the future. Take the opportunity to step back from the day-to-day operations of your business and reassess what has made you successful to date. Analyze your business by taking an in-depth look at your previous year's revenue. How does your revenue compare to past years? From where did your revenue come? What industries are you serving? What other characteristics do your best clients have in common? How were they attracted to you in the first place? Which services are most profitable? Develop a strategy for your business that allows you to set realistic goals – and to support those goals with cost-effective marketing and communications strategies.

Tip #2 – Know How You Got Here in the First Place.
What made you successful when you started your business or went into practice? If you woke up tomorrow and had no clients, what would you do first? Now is the time to refocus your efforts on what has worked for you in the past. Your future success is dependent upon being able to replicate what made you successful when you started your practice or business.

Tip #3 – Target Your Audiences and Your Messages.
It is highly likely your marketing strategy will be focused at a number of target audiences – prospective client groups, referral sources, industry sectors. Make sure your marketing strategies are uniquely targeted to the audiences you seek to reach – and that your messages are responsive to each separate audience.

Tip #4 – Show Them, Don't Tell Them!
Clients want to see that you have done what they need. Focus on providing representative examples of your expertise. Don't just create a list of services – show prospective clients that your firm has the breadth and depth required to work with them based largely on your past experience. Create case studies of your best work that summarize each client's situation, your approach to the problem, and the solution. Results sell!

Tip #5 – Focus on Relationship Building.
If you are in a service business, the vast majority of your success has been due to referrals from satisfied clients and business referral sources. Make a list of everyone you want to reconnect with and promise yourself that you will call at least five people per day – just say "hello," to check in and see how they are doing. Reconnect over breakfast or lunch. Staying connected to the great people you have met throughout your career will lead to opportunities you may never have imagined.

Tip #6 – Reinvigorate Your Sales Strategy.
Once you reconnect with your contacts, determine messages that convey why clients should hire your firm. Develop a plan to meet your sales goals for this year. If you need or want outside coaching, consider hiring an outsourced sales manager for your firm – someone to keep you accountable to your sales efforts.

Tip #7 – Be a Stickler for Responsiveness.
If a client or contact calls you, call them back. If they send you an email, respond – the same day. Even if you have no news to report, call them back. It continues to amaze me how many service providers do not return their phone calls and emails.

Tip #8 – Exceed Your Clients' Expectations.
When you exceed client expectations, not just meet them, their view of you as a service provider is remembered, especially when they are evaluating their continued relationship with you and your firm.

Tip #9 – Focus on the Media.
When the economy is tight, there is no better way to expand the name recognition and awareness of your firm than to focus on public relations. Develop a public relations plan that will enable your firm to communicate with the media on a regular basis, position members of your firm as subject-matter experts, help you pitch articles to targeted publications and to communicate newsworthy events at your firm. For increasing name recognition, there is no better tool than a targeted public relations effort.

Tip #10 – Communicate with Your Clients.
Keep your clients in the loop on the work you are doing for them. Let clients know what changes and service enhancements have been made at your firm to better serve their needs. Send a newsletter, an email communication, direct them to your website or call your clients personally. However you choose to do it, stay in touch with your clients.

Tip #11 – Use Your Invoices as a Marketing Tool.
Every month you have the opportunity to communicate with your clients through the invoices you send. Ensure this important tool communicates the value of your work. Don't just send a bill "for services rendered" with a dollar amount due. Take the extra time to sell the value of your work and expertise on behalf of your clients by providing a detailed accounting of your time. At the same time, you will be selling the value your firm brings to your clients.

Tip #12 – When in Doubt, Ask Your Clients.
Many of our clients have benefited from a client survey initiative. Before moving forward on a new marketing campaign, expanding into another market or launching a new service, consult with your clients. One client was able to save $40,000 per year on an advertising strategy that clients (as discovered in the survey) said had no bearing on their decision to use or refer clients to the organization. Particularly in a tight economy, you need to know your clients' perceptions and what is important to them. You may ultimately need to "tweak" your delivery of service to accommodate the findings.