At SUBTLEGEND, we believe in a customer-centric approach to building and sustaining successful businesses. Our core principles are designed to guide entrepreneurs through the complexities of business management, ensuring profitability, customer satisfaction, and long-term growth. Here’s a deeper look into the foundational beliefs that drive our consulting practices.
Assumptions: The Bedrock of Business Success
1. Without Sales, You Aren’t a Business
One of the most fundamental truths in business is that sales are the lifeblood of any brand. Without sales, your business is merely a hobby or an idea. Many entrepreneurs struggle for years to turn a profit or even pay themselves, but building a business is too much work to not be making money or supporting yourself. Put your own mask on first and focus on what makes you money. Prioritize activities that generate revenue and ensure your efforts are aligned with financial sustainability.
2. Sales Tell You What Happened, Not What’s Next
Sales data is crucial, but it only tells part of the story. It shows you what has happened, not what’s coming. At SUBTLEGEND, we encourage our clients to look at all perspectives: weekly, monthly, quarterly, and yearly reporting on sales and inventory. It's just as important to analyze the data as it is to look forward. Use sales trends to inform your future strategies and anticipate market changes, but always plan ahead to stay ahead.
3. Customers Are Self-Focused
Understand that customers are inherently self-focused. They care about what they need and what they wish existed. Therefore, build your business around your customers' needs and desires. Products are easy to replicate, so don’t get too attached. Fall in love with your customer, not your product, and build your business to serve them effectively. By doing so, you create loyalty and drive repeat business.
4. Value-Driven Marketing
We do not teach the influencer model of “build it and they will come.” Instead, we believe in marketing only when you have a value to add or a product or service to sell. It's too expensive to keep the attention of your audience when there is no value or solution for them. Focus on creating great products or services that meet real customer needs, then invest in marketing to amplify your reach. Value-driven marketing ensures that your efforts are effective and sustainable.
Practical Steps for Sales and Customer Management
1. Structured Sales Reporting
A functioning business needs structured sales reporting. Whether you are just starting or have been in business for years, a comprehensive reporting system is crucial. Use a CRM and/or software to track sales and customer interactions by various dimensions: by vendor, item, channel, location, and category, and over different time periods: day, week, month, quarter, and year. This detailed reporting helps you understand performance and make informed decisions.
2. Customer Sales Journey
Map out your customer sales journey. It doesn’t have to be elaborate, but it should outline what happens when a customer buys a product. Define the process: What emails go out? How quickly do products ship? What’s the review process? This clarity ensures a smooth customer experience, builds trust, and encourages repeat business.
At SUBTLEGEND, our core principles are designed to help businesses focus on what truly matters: generating revenue, understanding and anticipating market trends, meeting customer needs, and ensuring sustainable growth. By adhering to these principles, you can build a resilient business that thrives in any market condition.
Remember, success in business is not about chasing fleeting trends or viral moments. It's about building a solid foundation, understanding your customers, and delivering consistent value. With the right approach, you can turn your business into a profitable and enduring venture.
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