Survival and growth strategies for CA SMPs – series I

Reinvent Your Business

You don’t have to be a big, high-tech firm to reinvent your business. In fact, the smaller and leaner your business already is, the faster you can shift gears and zoom back into action.

Sit back and take a cold, hard look at your strengths and weaknesses and possible markets. Ask yourself the hard questions first:
Do clients still want and buy the same type of services you provide ?

Have industries and styles changed since you started practice ?

Have you kept up with the changes? If not, what changes should you implement now to make your business competitive again?

Do you need to develop new services?

Don’t guess at what customers want and will pay for. Analyze your existing services provided by you and talk to actual clients and prospects. What do they need? What can you provide? What’s the best way to deliver solutions to them? What’s going to bring in the most profit?

Is there any particular niche that avails services regularly from you now? If so, consider how you can bring in more of the same types of customers, and what other services they’d be likely to buy from you.

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