One of the biggest mistakes I made in a previous business was to chase the “next big thing”. I had setup our service delivery to focus on establishing ourselves as the trusted advisors within customers’ IT space. It was hard, tedious and bore the brunt of a lot of customer complaints.
Our strategy was to earn the trust of the customers and to be seen as the advisor that really knew what was going on in their business, that way we could upsell and get word of mouth referrals. It was slowly bearing fruit as the retention rate was 100%. All the while technology was advancing at a rapid rate promising newer and better things and especially much higher revenue.
So, we changed our focus towards the newer sexier technology. BIG mistake! Customers started complaining that we were not attending to their issues and we were behind in our objectives.
I was forced to reassess where we were and what was important – our existing customers and the existing service we were providing. The lesson learned was – stay focussed and stay the course. Only re-assess the strategy when you can clearly see a change of direction is required.
Our 3-step strategy formulation process is built around doing exactly that in a morning and we run the workshop once a month. Have a look at our Facebook page for more information or book here – https://www.rlactive.com/shop/