Don't Switch Off Existing Customer to Diversify and Grow!

Not just winning customers but retaining them is a really critical element to business growth.

While this seems obvious,  there's  many businesses, who unwittingly switch customers off. Simply because they've become too inward looking.

Being taken over with too much attention on process, building infrastructure and organisation. All proper things to do so long as they have their customers in mind.

Looking at new product ranges as example without considering current customer landscape would be a high risk strategy. It could effectively see your business moving from them.

That's why it's so important to grow and diversify with strategies that secure the existing customer base. After all if your new strategy isn't slow or doesn't work, you've still kept your business whole.

So don't break what's not broken on what might be. By all means divert investment but again balance it. Don't spook the suppliers or interrupt your own customer supply chain.

And as you change,  consult with your customers, gain their input and take seriously. If indicators show a nervousness then that should influence progress and scale of change.

However don't be afraid to innovate and change. The point is do it with a safety net of existing revenue streams.