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Customers, Markets and Relationships: Creating Value for Business Development | Extraordinary Business

By Fatima MansoorOctober 10, 2018Comments Disabled

As crucial as business development is, it is one of the most ambiguous and divisive concepts in the business world. If you ask ten business development VPs (or similar level execs) about it, you can get just as many different answers. Their responses will peg business development to different elements ranging from “sales” to “partnerships” to “hustling”! And they may all be right in their own way. This begs the question, what exactly is business development?

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new market

Market Assessment Series: Part 3 | Extraordinary Business

Blog, Strategy

Market Assessment Series: Part 3 | Extraordinary Business

By Fatima MansoorNovember 15, 2016Comments Disabled

Question 3: How well do our services fit in the market? Is it possible to create a new market for our services?

In this third part of our market assessment series, we’ll talk about the importance of a company’s products or services “fitting” in the new market. Will Caldwell, founder and CEO Dizzle explained on Entrepreneur Magazine that it is a challenging and time consuming process that requires businesses to get a deep understanding of their target market.
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Downturn

Is Your Business Ready for the Next Downturn? | Extraordinary Business

Blog, Financial Management

Is Your Business Ready for the Next Downturn? | Extraordinary Business

By Ravinder KapurOctober 25, 2016Comments Disabled

A successful business often tends to add costs indiscriminately. Business owners get blinded by the fact that their company is rapidly growing its revenues while maintaining a healthy bottom line. This lax attitude percolates down to employees who start incurring expenditure that does not provide any real benefit to the organization.

In many instances, company staff do not even provide customers with a basic level of service. They are so caught up with their daily activities and with managing increasing revenues that customer complaints and feedback get ignored.
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Business optimization tools

Tools for Service Providers | Extraordinary Business

Blog, Strategy

Tools for Service Providers | Extraordinary Business

By Rick MeekinsJune 21, 2016Comments Disabled

5 Business Optimization Resources to Make Your Accountant Smile

Whether you are a chiropractor, dentist, or hairdresser (oops, hair stylist), maintaining a healthy business practice involves continually growing your client base. In today’s mobile-connected and socially savvy world, consumers have more choices than ever before when it comes to finding a service provider. Luckily for service providers, they too have access to more tools than ever before. While growing a business via options like social media marketing are a terrific first step, there are also numerous other resources that can be integrated into a smart business-building strategy. Review the following list of tools for service providers to see which ones can increase your customer base and profitability.

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Tools for Service Providers| Extraordinary Business

By Rick MeekinsJune 21, 2016Comments Disabled

 5 Business Optimization Resources to Make Your Accountant Smile

Whether you are a chiropractor, dentist, or hairdresser (oops, hair stylist), maintaining a healthy business practice involves continually growing your client base. In today’s mobile-connected and socially savvy world, consumers have more choices than ever before when it comes to finding a service provider. Luckily for service providers, they too have access to more tools than ever before. While growing a business via options like social media marketing are a terrific first step, there are also numerous other resources that can be integrated into a smart business-building strategy. Review the following list of tools for service providers to see which ones can increase your customer base and profitability.
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Selling More | Extraordinary Business

Business Development

Selling More | Extraordinary Business

By Rick MeekinsJanuary 08, 2015Comments Disabled

How your customers buy and how you can get more of them to buy from you

 
Mechanic with Motorcycle at Repair Shop
It is interesting when you think about the marketplace; there are lots of buyers and lots of sellers. There are even lots of sellers of the same products, but customers will choose one seller over another consistently, but not every customer will choose the same seller; they purchase the same product from different sellers for different reasons.
Have you ever seen a business that seems to be doing things reasonably well – or very well – that suddenly changes the way they do business? How did that impact your thinking about that business? Perhaps it made you more loyal if the changes were those that appeal to you. Alternatively, you may find that you no longer wish to do business with that business.
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Selling More

Business Development

Selling More

By Rick MeekinsJanuary 08, 2015Comments Disabled

How your customers buy and how you can get more of them to buy from you

It is interesting when you think about the marketplace; there are lots of buyers and lots of sellers. There are even lots of sellers of the same products, but customers will choose one seller over another consistently, but not every customer will choose the same seller; they purchase the same product from different sellers for different reasons.

Have you ever seen a business that seems to be doing things reasonably well – or very well – that suddenly changes the way they do business? How did that impact your thinking about that business? Perhaps it made you more loyal if the changes were those that appeal to you. Alternatively, you may find that you no longer wish to do business with that business.

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value for price

The Price/Value Matrix

Business Development

The Price/Value Matrix

By Rick MeekinsDecember 11, 2014Comments Disabled

Your customers purchase from you, or from anyone or any company for that matter, because they have a need or a want, that is a given. You will hear until the cows come home that you must sell your product or service to help your consumer overcome whatever their pain is. The greater the pain, the greater value they place on overcoming that pain. You can see that every time there is a gas shortage; the prices for gas go up.

When looking at our company, the problem people come to us with is how to overcome their obstacles to growth, whether that is through sales, marketing, changing their business model or creating an expansion plan. The pain they have is the obstacle. However, notice there is another dimension – they want to get to a better place. So it isn’t a single message or single desire that they would have with us. Either approach has been appropriate to win new business.

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