Grow or die.
Grow or die.
Every business owner must understand this stark reality, according to Bob Blume, author of “The Inside Advantage.”
In today’s intensely competitive, technology driven global marketplace, no enterprise – including yours – can be sustained without growth.
Bloom, a marketing professional who has more than 40 years of experience working with global companies such as Nestle down to mid-market family businesses, is a contributing author to Gazelles International, an international asscociation of strategy consultants who work with high-growth companies in the mid-market.
His key piece of advice is the same to everyone who wants to grow their company – get clear on your core customer, your who.
Growth demands that you attract new customers to your business. However, chasing too many new customers or the wrong new customers can end up hurting your bottom line.
Securing the right core customers can open up all sorts of opportunities, unlock a product’s true potential and change the fortunes of a company.
To grow your business, get to know your core customer well enough to define him or her as an individual with special needs, concerns and desires.
Your core customer is one who is most likely to buy your product or service in the quantity required for optimal profit. And your core customer knows other customers just like him or her.
This is very important to understand – your future customer looks very much like your current core customer.