BE PREPAR In a time of radical change, there isn’t a crystal ball or a magic answer. But even without being able to see the future, it’s clear there are opportunities in the market right now. So, the real question isn’t what is going to happen, but instead, what is the best opportunity? What should an entrepreneur do to maximize profits? Here are 12 guiding principles that will help you identify and
take advantage of all the opportunities that exist. 1 Make sure you’re capturing and nurturing your leads long term — not just for days or weeks, but for months and even years. Follow up online and offline with direct mail, phone calls, and text messages. 2 Make sure you have a system in place to retain existing customers. Newslet- ters are a perfect system, and they help in many of the other areas on this list as well. 3 Inspect what you expect from your em- ployees. In moments of quick changes, you need employees you can rely on to utilize their fullest potential in the right parts of your company. This is critical to other points on this list.
4 Focus on your sales team and lead-to-sale conversion. You have to have good num- bers here, and if the data doesn’t support an outcome, analyze it. What needs to happen to push those numbers where you need them to be? 5 Work to upsell more and/or sell new products and services to existing cus- tomers. The easiest sale to make is to people who already know and trust you, so if you have that new product ready but haven’t gotten it off the ground yet, now is the right time to give it a push. 6 Building relationships with customers and vendors will always be important, so stay on top of it. Loyal customers will buy from you and refer you to their friends, which means increased profits.
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