A number of marketing researchers believe that it can cost up to ten times more to mobilize a new customer than to retain one. It turns out that, from an economic point of view, loyal customers who buy again are more useful for business.
Differences in development strategy for small businesses
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Next, we should consider a set of indicators that relate to the profitability of the business. Profit is income minus expenses and tax payments. Thus, for the success of a business, not only the amount of all receipts is important, but also the effectiveness of cost management. The funds spent on attracting customers are variable costs. At the same time, a business also has fixed costs, which also need to be managed correctly.
It may seem that developing a guatemala phone data strategy for a small business is easier, since there are fewer owners, managers and finances. The problem is often that in small companies the owner also acts as the board of directors, manager, etc.
Concentration of management functions in one person leads to subjectivity in decision-making. Not every owner is an outstanding businessman.
The situation when one person is the decision-making center is associated with various risks. Such a person cannot objectively see the whole picture, which is very important for business development.
Real experience shows that owners who have managed to achieve some success and take the company to a new level have formed their vision, but it no longer works on large-scale projects. Such entrepreneurs are not ready for new conditions. The methods that ensure success at the initial stage of the business may not work after its expansion.
What can a company owner do in such a situation? There are two options. In the first case, the entrepreneur needs to improve his management skills. In the second case, hire a qualified top manager.
It will not only help in developing the business at a new stage, but will also teach many useful things that are necessary at this level. To develop an effective strategy for the company's progress, it is important to have a deep understanding of its position, the ability to analyze the current and planned state of affairs.
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Implementation of business development strategy
After a detailed analysis of the features of its development, we can move on to considering the issues of implementing such a program. Any plan cannot be viable if specific actions are not taken to implement it. Only practical steps can materialize the plan. At the stage of implementing a business strategy, it is necessary to adhere to a number of recommendations: