Knowing what customers want and the accompanying sales revenues they bring, is what keeps a company going. Yet, that momentum of prosperity can quickly come to an end and lead to failure if companies bank on their successes and start to interact with customers in an alternating monologue.
The curse of knowing what works and sells
If you follow the current trend in business, you probably created a minimal viable product, tested the product, made sure it is what clients want and then got your first customers.You use this process to avoid failure. After your initial 10 customers, you go for 10X growth and for the next 100 and then the next 1,000 and so on and so forth. This is where the “system” steps in and you have a well-polished value proposition and just as slick sales pitch to go with it. Nothing wrong with that, except, don’t stop listening.
I have done this myself and have also seen clients doing it. They go out to the wide business world and they sell the product to the world, relying on their knowledge of what will sell. At that moment sales are there, but then sales start to drop. It could have been the economy going down, it could be any other external factor that made that made the sales dip. Who knows? How do most companies respond? They throw more sales people at the problem, thinking that selling and communicating more to customers will solve the problem, because they know what sells. But it does not work and can lead to failure.
The trap of the alternating monologue
They have just fallen prey to the alternating monologue and it goes something like this.
This alternating monologue continues, the sales person eventually leaves without an order and thinks to himself, “Maybe that was the wrong market segment, the next one will be better”. But as it turns out, the next customer is not better.
Never ever stop listening to avoid failure
Part of doing business in modern times and having all the channels we have available to reach customers, is to understand that these wonderful channels – social media, online, radio, SMS, LinkedIn – is not a one-way channel, but instead works both ways. The fact that something is working today, does not mean it WILL work tomorrow. Value shifts, needs shift, markets shift and you need to be on the lookout for these changes and the best way to do so is to listen. Listen first, I mean really listening with eye contact and sincere interest and then keep quiet. If you do feel the urge to speak, speak in questions. Get into their world. It is all about them. It is their dollars that keep you alive, better listen to what your dollars are saying if you want more.
Take some action
Do you want to learn how to keep listening and exploring new possibilities and opportunities in business for you or your team? You can master the skill quickly. Get a copy of the book indivineur – Opportunity Accelerator | Start a low risk business TODAY, using what you have NOW or contact Willem Gous via www.indivineur.com to attend or have the indivineur workshop presented at your premises.
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