How to get the most out of that bird in your hand
Ten tips for growing profitable revenue with the customers you already have
Straight Talk Series — Book No.4
Costs have been cut, assets shed. Technology rationalized. And new investments squeezed.
You know the drill. The cost-cutting cycle repeats. And repeats.
But what do you do when there's nothing left to cut?
The single most compelling business challenge today is no longer how to squeeze more from less. It is how to escape the depressing gravitational pull of the downturn and get back on the upward path of profitable revenue growth.
So where should you start? With that bird in hand or the two in the bush?
The instinct of both client and consultant is to look to the latter. Look for that breakthrough product or service that creates a mind-blowing competitive edge and opens the doors to a host of new customers.
But amidst the buzz of the brainstorms, many overlook the straightforward, practical moves they could make immediately with the bird they already hold in their hand — their current customers.
These moves require little to no new investment and might seem obvious to some, which is probably why they are so often overlooked. Yet they're some of the easiest — and most reliable — ways to grow profitable revenues.
So the simple suggestion of this book: Before you get too far with new products, services, channels, or markets, make sure you have invested in profitably growing the customers you already have.
Here's an excerpt:
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