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Senior Money Memos

AREN'T SALES GREAT! .. BUT ARE YOU TOO BUSY?

I am in touch with a large number of mid-sized and small businesses in the Greater Montreal Area. A comment I hear frequently is "Sales are great - we can hardly keep up with the orders. I don't need marketing at the moment." Well it's certainly a great time and all the signs are that this will continue.

However a question you should always be asking yourself is "Am I too busy?" Being busy shouldn't be a busi-ness objective. Much better business objectives are more profits, new customers, serving them well and keeping them happy.

Stephen Covey in his book "The 7 habits of highly effective people" has some useful advice. His 7th habit is "Sharpen the Saw". If you are sawing wood, you must sharpen the saw regularly. Otherwise you work very hard, you sweat profusely, but you do not cut as much wood as you should.

For a business, one way of keeping the saw sharp is to make sure the business is always focused. No energies or resources should be diverted away from your focus and that should be your market niche. Make sure that new potential customers in your chosen niche will find the company is one they prefer to do business with. Such a focus on your market niche ensures that:

  • your promotional efforts are best directed
  • your sales force concentrates on your best opportunities, and
  • your production people optimize their efficiency and cost performance by going faster along the learning curve.

By winning 5% performance improvement here, 3% performance improvement there and so on, you soon have a major impact on the bottom line. So go to it and make sure your "saw is sharp".

If you wish to 'sharpen your saw' in marketing, SMM will be happy to work with you. Our help can be configured to meet exactly the needs you have. Our strengths, experience, creativity and practical common sense can complement those of your company. So write us a Message today on what you're looking for without obligation.

Barry Welford

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