Free Advice

What happened?

How was 2002 for you and your company? Was it a good, bad or okay? No matter what the answer, the most important question may be "do you know why it was what it was?"

Earlier this year I was teaching a class and I suggested that the students do their research on the subject before "hitting the streets." One of the students commented about how this was the fourth class in the series (all different instructors) and that every instructor told them to do their research. No surprise, it's the key to doing things right and being successful.

Where to start

You want to start your research and analysis at home. This means look at your business as if you were an outsider. Perhaps you should bring in an outsider to help you look.

Some of the areas to look at are:

Customers
Employees (especially in sales)
Marketing
Competitors
Your industry
The value you provide
Pricing structures

I've always been a big believer in starting with the basics. In this case, who, what, where, when, why and how. You know the routine. Ask the simple things first and then the complex, industry specific, questions about the above and other areas of your business.

Internal

For the internal areas like customers, employees, marketing, etc. make sure your employees have a role in the process. You don't have to overdue it. Find the big reasons why something is or isn't working and run with it.

When determining why customers are buying at the levels they are, perhaps you'll want to spend time with each employee who has contact with the customers. Document what is happening with the relationship, the market, their attitude, etc. Don't neglect getting your customers involved. Excellent customers may give you the key you can use to secure other business. Others may tell you what's preventing them from doing more with you.

Don't be afraid to ask questions (just like you shouldn't be afraid to ask for the order).

External

There are a lot of resources available to research the external factors. The Internet, the library, trade associations and their publications, credit companies, government resources, competitors' materials, corporate "spies" and your playing customers.

In the 21st century, there is almost no excuse for not knowing all you can about the market, the competition, pricing and more.

The most important fact you need to know is how your value proposition is pictured in the marketplace. Once you have a firm grasp on why your customers buy from you and not your competitors (or vice versa), you can start making the necessary changes to grow now.

Copyright 2003. John Martinka. All rights reserved.