Growing in a Downturn

By Tina Zawila

There’s no doubt that the economy in Gladstone has changed significantly over the last 12-18 months, with many businesses noticing the decline in demand and revenue.  Many have had to make difficult decisions to scale back operations to meet the market.

However, there are some businesses that are in fact entering and growing in this market.   So what’s their secret?  As with most things in life, it’s usually not just one thing that they are doing differently, but instead a combination of activities and strategies. 

So today let’s talk about selling.  I know most people who love their product or service, don’t like to think of themselves as salesmen (because they believe their product or service sells itself), but in reality we are all in sales.  However what does selling really mean?  I recently heard this definition of sales and it resonated with me:

“Selling is all about creating relationships to solve people’s problems and transfer value”.

So let’s break that definition down from the customer’s perspective.

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• Creating relationships. As a customer, we want to feel appreciated, valued, and dare I say, loved. We want to do business with people we like and trust. 
• Solve our problems. We want our needs and wants met and we want solutions. Sometimes we don’t even know that we have a problem, want or need, until you identify and show it to us. 
• Transfer Value. We are prepared to pay when the price is equal to, or lower than, our perception of the value we will receive from your product, service or solution.

So if sales are declining, maybe before we blame the downturn in the market, we should look at our own ability to sell our products and services. 

Do our customers feel loved, are we meeting their needs, and are we offering good value?    

If you need help with strategies to improve customer relationships, developing your products and services, and articulating the value you provide, call the professional business advisors at Sothertons Gladstone on 4972 1300.