Focus on your sources of revenue

Just today I was speaking with a new business owner. She needed to know if she was on the right track for her business. She has a franchise in the health and fitness industry, and planned to promote via letterbox drops to local households and flyers distributed in local area.

While these sound like logical choices I mentioned that she is missing a major opportunity by not focusing on her key sources of revenue. To do this I suggested she identify the 'groups' of people that would make the best prospects. Then find which communication channels are used by those people. Then be active in those channels, whether it be newsletters, advertising, inserts, notice boards, talking to groups, direct mail, personal networking etc.

For most service businesses, it is critical to find the right source of clients (revenue source) rather than using mass-promotional techniques that reach a lot of people who will never be your client.