Home Entrepreneurship Why Fear May Be Keeping You from Growing Your Client Base (And How to Overcome It)

Why Fear May Be Keeping You from Growing Your Client Base (And How to Overcome It)

by Olufisayo
Fear May Be Keeping You from Growing Your Client Base

Hall of Fame football coach Lou Holtz is credited with saying, “In this world, you’re either growing or dying.” While he was likely talking to the athletes in his charge when he finished this statement by requesting that they “get in motion and grow,” the reality is that this advice also applies to the world of business.

In other words, if your company isn’t constantly getting bigger, then it is going to become smaller in comparison to competitors that have figured out what it takes to increase in size. Additionally, while some business experts feel that this lack of growth is caused by poor customer insight, not having enough funds, and inefficient leadership, one successful entrepreneur suggests that fear may be the real culprit when it comes to failing to attract new leads.

Fear May Be Keeping You from Growing Your Client Base

The Connection Between Fear and Stalled Business Growth

“If you can’t attract the right clients into your business, you’re in fear,” says business growth expert Russell Ruffino. Ruffino is the founder and CEO of Clients on Demand, a company that made Inc. Magazine’s 500 fastest-growing companies in America based on its own growth while teaching entrepreneurs how to effectively attract more quality clientele and meet their desired goals.

CEO Russell Ruffino

       

Clients on Demand’s founder and CEO Russell Ruffino

Ruffino goes on to explain that fear created by a “feast or famine” mentality often results in spending too much time being worried, an emotion that inhibits many business owners from making an actual plan to attract new leads. So, how do you overcome this fear? By creating a plan.

Developing a Business Growth Plan

Have you ever had a health concern bother you for weeks (or months), only to feel better the instant you make a doctor’s appointment? If so, then you’ve already experienced the value behind using a plan to dispel fear.

While Ruffino helps clients develop an effective online advertising plan and system that “puts clients first,” the U.S. Small Business Administration (SBA) adds that there are two options for creating a complete business plan that can help your company grow.

The first is a traditional business plan, which is a comprehensive plan that includes nine extremely detailed sections:

       
  • Executive summary – describes your company and why it will be successful
  • Company description –the problem(s) your company solves
  • Market analysis – industry trends and themes; what competitors are doing
  • Organizational structure – the roles people in your company will hold
  • Service and/or products – what it is you’re selling
  • Marketing and sales – how you plan to attract and retain clientele
  • Funding needs – any money you’ll need to grow your business
  • Financial projections – where you plan to be financially in the next few years
  • Appendix – all of your supporting documentation

If this feels overwhelming, your other option is to do a lean startup plan. The SBA shares that this type of plan is faster to write in that it provides a bigger picture of your business versus going more in depth.

The nine elements of this plan are:

  • Key partnerships – who you plan to work with
  • Key activities – how you’ll beat your competitors
  • Key resources – resources you’re able to leverage to provide customers more value
  • Value proposition – what makes your company unique
  • Customer relationships – how you’ll interact with customers
  • Customer segments – your target market
  • Channels – how you’ll reach your customers
  • Cost structure – where your costs lie and how you’ll manage them
  • Revenue streams – the various ways your company will make money

Whether you decide to create a traditional or lean startup plan, going through the process can help put your fears at ease. This will make it easier to grow your business, while also keeping it from dying way too soon.

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1 comment

Learn to Evolve — Trend Spotting Advice for Business Decision-Makers December 14, 2018 - 1:29 PM

[…] industry you are in, to be successful, your business should be growing. If you’re not growing, you’re dying. So branching out, doing continuous research, and understanding the direction of your market is […]

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