Kyrylo talked about what makes a successful business.
What is it that your business can’t live without?
What is essential to its performance?
What makes it earn money?
You need to understand clearly what your client misses out on if they don’t use your product. Don’t describe the product itself, show its advantages or how and which problems it solves.
2. Deep understanding of the target audience.
You can’t make everyone your client.
If your target audience is clearly defined, you understand what leverage you have.
3. System-based approach.
A system is something whole, a sum-total of appropriately arranged interconnected parts.
You need not focus on one specific problem or develop one particular department. Address everything in a broader context.
4. Positive customer experience (social proof).
You can influence customer loyalty, which brings you repeat sales.
Building a relationship with a client is akin to a romance: you meet them, you woo them, you propose to them. And then you build a long-term relationship.
5. Walk your talk.
Your marketing specialist can come up with the most attractive unique selling proposition out there, but clients won’t come back if you fail to live up to it.
Stand by your words, and always fulfil your promises.
6. When it comes to sales, it’s ‘more haste, less speed’.
There are many customer types out there, and each takes a different time to make a decision.
A sales manager needs to feel the client, give them time to think but don’t lose sight of the thin line after which the deal comes to halt.
As we said before, client relationship management is akin to a lasting romance.
- Meet them. Show your business to the client, so that they know it. They can’t see that they need you if they don’t know you exist.
- Woo them. This is where you build customer loyalty. Put yourself in your future customer’s shoes, try to understand their needs and problems and offer the ways of alleviating them. Kindle their interest.
- Propose to them. It’s time to stimulate sales, but don’t be pushy.
Nurture the relationship. At this stage, you need to manage your customer’s loyalty and stimulate repeat sales.
7. Content is king.
Always watch what and how you communicate to the world. Your content moulds the image of your brand in the eyes of the customer, and you control its presentation.
8. Effective organizational structure.
This one should be rather clear. Without an organizational structure, your staff will wander clueless.
9. Business processes.
You need to have a clean-cut roadmap or a business process map. Don’t keep your staff guessing and looking for a way out in a labyrinth of convoluted tasks. They need to know the directions and follow them.
10. You control what you can measure.
ROMI, return on marketing investment: the lacklustre performance of most business owners is due to something called the Hamster Wheel Syndrome—the business owner’s obsession with operational routine, being stuck in the hamster wheel of trivial day-to-day operational tasks. It is an addiction, as in the case of alcohol or smoking.
It manifests as the urge to handle all the everyday tasks and problems of the business personally…’
The Leverage Principle: sometimes it is enough to change just one little thing to boost performance.
You need to know the processes/components of your business structure, even insignificant changes to which can bring about massive change.
11. High recruiting and team management standards.
You need not be afraid to delegate and source expertise externally. Suppose you need an internet marketing specialist, but you as a business owner are unfamiliar with the domain, and neither is your HR.
How do you evaluate the candidates?
You can take potluck, or you can contract a third-party recruiter to find the suitably qualified candidates.
12. Corporate culture.
Who are you?
What is your company?
How does your staff need to feel working for you?
Which rules do they need to follow?
Which values do they need to share?
It is crucial that you answer all these questions because there are lots of employers out there, and the atmosphere in your team determines your staff’s performance.
13. Leadership development
Remember: you need to invest not only in your business but also in the development of the team that leads it.
14. Financial model
Marketing hypotheses → Quantitative forecasting → P&L budgeting and cash flow forecasting.
15. Strategy and consistent adherence to it.
Kyrylo recommends going for the Agile methodology. It enables managers of all levels to plan and project work, as well as assemble the teams to ensure high adaptability of the business amid the dynamic market conditions and business environment.