Blue Haus Group

Growth by Design

Hartford Connecticut

Specializing in Small Business and Economic Development

Founded in 2015 Blue Haus Group is a private real estate and economic development firm with a focus on creating dynamic urban cores within secondary and tertiary markets.

We specialize in the creation and redevelopment of public spaces, neighborhood streetscapes, activations and pop-ups.

We work for real estate developers, government agencies, and non-profit organizations (and often a combination of the three) on revitalizing urban space and creating clean, safe, and active places that create value and stimulate economic development.

Small Business Is the life blood of local economies
Blue Haus Small Business provides innovative business development and marketing solutions for small and medium sized businesses in Hartford and New Haven.

Back To Basics

February 19, 2017  /  Tim Moore

As Companies Grow & Scale, They Fall Victim To Pursuing The New and Discarding The Old. Secret: They're Not Mutually Exclusive

By Tim Moore 4x Entrepreneur and Partner

Recently, I've begun to notice a troubling trend with some established small businesses. I've noticed that once they hit a certain level of success - they stop doing the work that got them there. This is troubling.

First, let me say this. Yes, businesses should update their strategies on a regular basis. I'm not against businesses evolving - I'm actually a huge proponent of it. However, I am concerned with businesses forgetting fundamentals. Here are a few areas that I've found fall by the wayside:

  • Awareness Marketing

    • Businesses that feel that they no longer needed awareness campaigns. This is ridiculous. The most recognized brands globally are still running awareness campaigns yet for reasons unknown to me, small businesses get to a level of success and feel that everyone knows about them. Real Talk: Let's check the ego and understand that more people can always know about your brand. Always.

  • Old School Prospecting

    • Okay. So the methods may have changed, but you still have to put in the work. Cold call, cold email, cold conversation - still not fun (unless you're me). This is less about method and more about personalization. If you say, no one wants a prescripted cold call, email or letter...you'd be correct. I will contest that delivering a hand-written note, card or even a personalized (truly personalized and relevant - not just <mail merge> ) You're success rate will go up. The old process was miserable because it was highly based on numbers of leads and not about quality of leads and quality of message. Focus on the quality, thoughtfulness, and have the mindset of creating a relationship overtime and your success rate will go up. Follow your buyers activities, be prepared and bring value. It's not rocket science. It's salesmanship. Insight: This week I'm heading out with single cow milk chocolates (yes they are amazing) to prospective clients. They're artisan, they're unique and the prospects will love the thoughtfulness. You can read about the chocolates here. Client acquisition and retention require attention and consistency.

  • Not Knowing Your Numbers

    • Say it with me. I will know my numbers. I will know my numbers. I will know my numbers. Metrics people. We live in a world of data, data is king. It's imperative to know your numbers or know where to find them. What's your prospect funnel look like, average ticket price, what's the market hold, what's your exposure? Too often, business are operating in silos (actually, really dark silos, with blue blocker glasses). They have very little idea about the market, the competition and relevant data because they are too busy doing the "work" of their business. Well you know where that gets you? Nokia, Blackberry, you get the picture. Knowing your data lets you see patterns, maximize opportunity, minimize exposure, forecast trends and chart your next steps. Use it early. Use it often.

Companies become successful by doing the simple things correctly and consistently (and with a little timing and preparation aka luck) If you're growth is slowing, take a look back at your habits when you were growing. Did you stop doing a task? Did you fail to pass off a job function during the growth period? Take some time to reflect on what was working, make the necessary adjustments and remember to get #BackToBasics.

 

Tim Moore is a 4x startup founder, partner and sales & marketing consultant. He writes about startups, sales and marketing. Follow him on twitter here

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tags / Tim Moore, Business, small business, Sales, marketing, operations, blue haus group, consulting, work