3 Mistakes That Stall Growth
May 14, 2008
Edited by: Ken Beaulieu in: Getting New Customers
Futurist Richard Laermer has established himself as a respected consumer marketing trends expert with the popular business books Full-Frontal PR and Punk Marketing (the latter cowritten with Mark Simmons). His new book, 2011: Trendspotting for the Next Decade, forecasts a world where the businesses and people that can adapt quickly to changes in the landscape are the ones that will thrive. The good news is that many of the trends Laermer forecasts bode well for growing businesses (or at least those that keep an ear to the ground).
Specifically, Laermer believes the cultural trend toward mistrusting large companies will only grow. Even in the b-to-b world, customers are wary of what he calls a bait-and-switch tactic, in which providers pitch their name and their best people, while the work is in fact done by underlings and contractors. Growing businesses can capitalize on this trend, Laermer contends, by avoiding these mistakes:
- Poor planning. It’s easy for owners of smaller businesses to get distracted and lose their focus on what they do best. Crafting a feasible business development plan and sticking with it is a must.
- Lagging behind. With the pace of change constantly accelerating, it’s essential for any businessperson to keep up with industry blogs, business magazines, and other information sources.
- Pursuing the wrong customers. Too many businesses focus on getting new customers while ignoring loyal ones. The statistic that 80 percent of profits come from 20 percent of customers demonstrates that proven good customers are your real bread and butter, and growth shouldn’t come at their expense.
Permalink: http://www.fuelnet.com/?p=327









