For many business owners it is often a hard slog to continually be generating new business. Whilst many deliver great customer service and care to their existing clients, their influence is limited for the business. This means the chance of increasing fees and selling additional products can be a step too far.
If you looked at your client base, do you know how their businesses are performing? If your clients are struggling, the risk of exposure to bad debts increases.
So, What Does It Actually Mean to Build Our Own Economy?
Imagine that all of your clients had great control in their business; we are not just talking from a financial point of view but delivery of their products, strong systems and process in place, an exceptional team driving the business forward with a strong leader. Not only is that business going to be stronger but it provides upsell and additional product opportunities for you.
How Do We Create Our Own Economies?
There are a few main points to consider.
- Educate your community – by this we mean educating your suppliers, your existing clients, everyone you have regular contact with. So they share the same understanding about how to develop their business as you do! Have you read a book recently that changed the way you run your business? Why keep it a secret if the benefits to your business could be so great.
- Sharing Core Values – Doing business with people who feel the same way towards their business as you do. Why would you want to carry someone who does not have the same thinking as you and could potentially be dangerous to your budding community?
- Success through association – When we start to build our own economies we need to associate with people who are operating, as we want to. As time goes on and your community develops things change and people will look to you to understand.
- Always create a win-win.
As we build stronger businesses within our own communities we create a safe environment for our clients and community members to do business with one another. By giving them the peace of mind that the others in our community are as strong as they are, we build our own thriving economy.
Listen to Andy Sleet and Hugo Heij discuss building your own economy in more detail on the Fluid Business Podcast: