Attracting new business can be one of the hardest aspects of running your own company.
For some people it just seems to come naturally. Work flows their way in ever increasing volume.
Like any aspect of business it’s not black magic. There’s always a reason for it.
One of the most successful strategies I’ve employed is getting other businesses to do the marketing for me.
I successfully ran a financial services company and I knew I could almost guarantee a sharp increase in business if I delivered a good service to a well-connected client.
People can’t help recommending a business they’ve had a good service off – it’s human nature. You gain the trust of each other and you start to create business opportunities between the two of you. You then recommend each other to colleagues and things develop rapidly from there.
I refer to it as ‘working on the back of’. The concept forms the basis of my Results Hub business.
On the face of it, my business mentoring organisation is made up of quite a disparate group of entrepreneurs – a recruitment agency, a farming contractor, an interior designer, a PR and social media company and so on.
But these companies are all starting to work together, to pass business to each other and I can see their networks starting to intertwine as they feel more comfortable together.
Working on the back of can take many forms and it often takes an open mind and imagination to truly exploit and spot its potential.
In recent years one of the most obvious examples of this comes from bookshops.
These days it seems quite natural to have a branded coffee shop inside the likes of Waterstones or WHSmiths.
They seem a great fit. Fans of Starbucks and Costa get new business from book shop customers and coffee fans are encouraged to browse the books.
The idea started at Borders Book Shop who were looking at new ways to get an edge over Amazon.
Though the concept wasn’t enough to save Borders going into administration, the branded coffee shop in a bookshop is now almost commonplace.
To find out more come along to my next Late Late Breakfast meeting and email email@example.com