Needs and Wants
From a relatively young age, we learn the difference between needs and wants and how we have a few basic needs but usually significantly more wants.
Things are no different in business. Though it can be a lot harder to differentiate.
NEEDS AND WANTS
From a relatively young age, we learn the difference between needs and wants and how we have a few basic needs but usually significantly more wants.
Things are no different in business. Though it can be a lot harder to differentiate.
It is a given that all businesses need to find the right customers, and enough of them, in order to sell their products/services and to make a profit. That satisfies the need. As a business owner, the attached want may be being in a position to delegate to others to enable you to concentrate on building the trust of customers as one means of increasing sales and profits.
Similarly, in addition to having a solid customer base you as the owner need a team of loyal staff who consistently deliver top-quality customer service to ensure your reputation is excellent, maximise the value of each client, and build that client base. You want to ensure the retention of your best people and thereby negate the cost of recruitment, associated training, and the general risk of the unknown.
At Peak Governance Business Advisors Ltd, we work with our clients to focus on the business development strategies that ensure the needs are consistently satisfied, while the wants become ever more tangible and obtainable.
Making the time and prioritising areas such as understanding your competitive landscape, choosing relevant and effective KPI’s, understanding your risk profile, swiftly acting on customer feedback, and speeding up response times all help to drive your business forward.
For more information and expert advice on how to achieve this for your business, contact us at billy@peakgovernance.co.uk or martin@peakgovernance.co.uk
