What is Business Growth Coaching? It is about unlocking the untapped potential in your existing client base and exploring new ways of growing your business. We also urge you to involve all your team members - whether or not client facing or sales focused to discover hidden ideas which may not have been actively considered - many heads are better than one when brainstorming!” Having trained with Peter Thomson of PTI (Peter Thomson International plc-www.pti-worldwide.com) we have a range of simple but effective tools available to help you uncover and gain the benefit of windfall profits which may be lying dormant in your business such as: Goal Setting The 3 Key Questions (see below) The Magic Matrix Systematised Referral Process Branding and the Perception of Price Time Management Client Retention Strategies The Action Agenda Have you ever asked yourself and your team the following question? Are we maximising and realising the true potentiality of our clients and customers? This process can be started with three accelerator questions which we would explore with you. (1) How many customers do you have? This information can be accessed from existing records and databases. (2) The second question is what do those customers spend with you in total? To keep this simple it is easiest to base figures on their annualised spend with you. Again with some research, these figures can be identified. (3) The third and most important question - ‘How much could they spend with you based on your current product and service offering?’ Or put a different way "how many of your clients or customers are multi-sourcing or buying elsewhere products and services which they could be buying from you?" Most clients don’t know the answer to this last question. To find out the answer, we set a project plan for your customer service or sales people to go and speak with all your customers – making sure they educate them on the full range of products and services they can buy from you. Using some well thought out and structured questions that we would prepare together, they can ascertain areas of business which may not have been realised or explored earlier thereby accessing additional sales potential in your existing customer base. It is a well known fact of business, that it costs more to develop a new client relationship than to nurture an existing one. At the end of the day, ‘people buy people’ and the value of good relationships cannot be underestimated. Having done this exercise and met with some of the responses which typically come back from customers and clients - “I didn’t know you did that”, or “I had never thought about coming to you for that product” - being just two - sales and customer teams can immediately see the value of the exercise and are motivated to go the next stage of realising additional sales. You have already invested time and effort in developing relationships with your customers – they’ve already bought from your business – already bought into your brand, bought into you and your team – now is the time to realise the worth of the true potential which may be within your grasp. This exercise has been done with hundreds of businesses and has consistently realised ‘the potential spend of existing clients v their current spend’ amounting to at least double - and has been as high as ten fold the current spend. We wonder what this figure would be for your business? Perhaps it would be worthwhile if we ran a session with your team and you answered those three focused questions. To find out more contact Gill King, our Managing Consultant. Additional Resource - sign up for Peter Thomson’s free TGI Mondays newsletter (http://www.tgimondays.com)