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Improve Your Business Growth by Changing and Adapting March 16, 2010

Posted by dennissommer in Uncategorized.
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Is business growth improvement a goal of yours this year? Changing and adapting your business is one proven method to improve your business growth in today’s challenging economy.

The days of business as usual are gone. What worked in the past does not work today. To survive and dramatically grow in this economy, research shows that you must change your business strategy, offerings and how you market and sell to your customers.

A new study by research firm AMI Partners has found that most business executives feel the economy has stabilized. However, they will still focus on key priorities like finding new ways to reduce costs and increase revenue over the next year. This includes looking heavily into technology, services and staffing options that will directly impact these key strategic priorities.

The survey found a drastic increase in businesses looking to outsource more areas like buying managed services (60 percent), software as a service – SAAS (40 percent) and an increase in plans to outsource IT staffing needs.

These types of solutions are attractive to businesses because they offer flexible payment options and pricing models are usage based. As long as business executives are focused on cost reduction, these solutions will be a key focus.

The study also suggests the changing dynamics in how businesses are making their purchases. The buying process has become more formalized, and the decision making timeframe has been lengthened. In addition, senior business executives are becoming more involved and are exuding even greater influence of why, when and where purchases are made.

For example, business executives are spending more time assessing key business needs driving the purchases and deciding on the specific type of product and service to be purchased. Over the past year, influence from key business executives has dramatically increased.

In the past, approximately 31 percent of businesses surveyed stated their key business executives were involved in product and service purchases. The most recent survey has found their involvement has jumped to 83 percent.

The moral of this story – Based on these new trends, what worked for you in the past will not be successful today. Look deep into your business and change what you are offering to better meet the new needs of your customers and change the focus of your marketing and sales on the higher level buyer.

I look forward to hearing from you.

Dennis Sommer
CEO, Executive Business Advisers

My specialty is helping companies improve their business growth, sales and marketing performance.

Business improvement specialties include: business startup  , business growth , sales , marketing , business coaching , strategic planning and customer retention

Call me today to schedule a free consultation:   800-627-6512




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