The biggest mistake most website owners make is that they take their profession or area of business as their primary activity (what they do). Thus a business owner will tell you that he is a builder, a contractor, an architect, a physician, a chiropractor, an engineer, a website designer, a dentist, etc. These business owners, thus, spend most if not all their working time engaged in their areas of expertise.
The above notion of business is TOTALLY WRONG and is the main reason why most businesses struggle continually year in, year out to make ends meet while some other less fortunate ones end up folding up.
BuildingEwealth yearns to change the above wrong notion and mindset of business owners by helping them understand that A BUSINESS OWNER IS:
Firstly: A Business Developer
Secondly: A Marketer
Thirdly: A professional or expert in his area of endeavour.
So for example, as a builder you are FIRSTLY a Business Developer of your building construction business, SECONDLY a Marketer of your building company and THIRDLY a practitioner in the building industry which you carry out as a Builder.
Understanding the above illustration is the FUNDAMENTAL KEY to business success as you see what you do as the last thing/task; the first is focusing your effort in building the business through innovative and revolutionary ideas and then implementing such ideas via marketing campaigns. It is after the above which you must have repetitively carried out that you then focus on your area of expertise as a builder, contractor, physician, chiropractor, consultant, engineer, etc.
The above business development concept is in line with the view of the father of Business and Management Consulting, Peter Drucker, who said that:
“Because the purpose of business is to create a customer, the business enterprise has two – and only two – basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”
From what we said above and in accord with the words of business wisdom from Peter Drucker, as a business owner, you are first a business developer; innovating new and far-reaching ways to grow your business and secondly as marketer, you implement the innovative ideas you came up with via the various marketing media available to you.
Remember the popular adage that says “if you fail to plan, you are planning to fail.” Your first work as a business owner is to plan. You achieve this when you carry out your business development roles (the first of your business roles) but you do not just do an ordinary planning. You must spend some quality time in strategic and innovative planning on how to first enhance and optimize your products and services to better serve the marketplace and to increase its perceived value. You also need to spend some time to reflect on the type of clients you want in your business and ways you can effectively reach them at the lowest possible cost.
In business development, BuildingEwealth consults with companies and business owners to help them overcome their most pressing challenges, discover overlooked growth opportunities, revamp their existing streams of revenues for much more better yields, develop strategic action plans that can better position them in their marketplace to better satisfy their clients.
We believe that in any business (no matter the industry) they are a few vital things if well optimized and fully utilized, can make the business owner work less and make much more money while at the time having the greatest fun and fulfillment from his business and yet exceedingly satisfying his ever growing repeat clients who end up becoming the business owner’s advocates by constantly referring new clients to the business by word of mouth marketing and by their testimonials.
The following are a few of the ways we help companies and business owners achieve the above.
a) The 80/20 Rule
80% of a company’s businesses and income come from 20% of the company’s products and clients. Yet most business owners fail to channel most of their energies and resources to these 20% of clients to better satisfy them and to enhance these 20% most profitable products to increase their perceived value and better tailor them to much more satisfy their end users.
We work with business owners to first make their most profitable efforts, marketing campaigns, products, clients, etc. produce much more after which we look at those less profitable activities, products and clients and recommend ways to better reposition and enhance them.
b) Untapped Business Opportunities
BuildingEwealth works with business owners to discover hidden goldmines buried deep in their businesses which can greatly and much more quickly accelerate the growth of their businesses while at the same time reducing the number of hours they work in it.
We also work with clients to areas of:
Enhanced revenue generation;
Business achievement and setbacks;
Future growth projections;
The business owner’s exit strategy;
And much more.
We invite you to avail yourself of the once in a lifetime opportunity to freely discover overlooked and under-utilized growth opportunities within your business by evaluating your business based on the 100 questions we posed in our “Strategic Business Recollection Workbook.”
These questions are direct to the point which you can answer within 1 – 2 hours after which you will by yourself see which areas your business is currently lacking in, as well as, know what to do to remedy these potential business pitfalls.
To request your own immediately downloadable copy of the “Strategic Business Recollection Workbook”, fill in your name and email address below.