Whether your business has faltered or is still going strong, “reinventing” your business can provide an enormous boost to your results. I’ll offer some specific ideas to consider in a moment, but first let me help you appreciate the many benefits of reinventing. By “reinventing”, I don’t mean abandoning the business you’re presently in (although quite honestly, many people are in the wrong profession for their strengths). By reinventing, I mean trying new ways of doing what you already do and considering new products and services.
Adding new dimensions to your business brings new life to it. There’s something very energizing about creating new opportunities and new potential. The excitement of new potential shifts our attitude and our energy. New possibilities suddenly present themselves where only the drone of business as usual existed before. When we add new depth and direction to our business, we greet each day with renewed enthusiasm. Besides bringing new life and excitement to your business (and your life), there are a number of other important reasons to reinvent your business.
One important reason to reinvent is that times change. People change (or at least their expectations do). Technology changes. The economy changes. The bottom line is that what worked in the past often won’t work as well in the future. Things that once made a strong impression on people, now are expected or are even taken for granted. The point is that all these changes around us are a driving force, imploring us to consider reinventing our business.
Another important reason to reinvent is that it creates a number of marketing opportunities that didn’t exist before. Whether we add new products/services, or simply devise a new way of doing what we’ve always done, we create the opportunity to remarket to existing clients. We place ourselves in a position to offer something in addition to what we’ve offered in the past. Additionally, when we reinvent, it allows us to market prospects with a fresh message. Besides all those new, improved marketing opportunities, when we offer new solutions that we didn’t offer previously, we open up whole new markets – markets we may have never even dreamed of before. The simple act of reinventing can magnify and expand the opportunities available to us.
The final reason to reinvent relates to the Power of Attraction. When you reinvent your business, you will begin to attract the new opportunities you’re looking for. Let me explain… This phenomenon happens to me regularly and my coaching clients experience it as well. As I said earlier, with the excitement of new potential comes a re-energizing of our thoughts and expectations. We begin seeing the possibilities of a new, bright future and as such, have positive expectations about our business and our life. In fact, the outlook for the future seems so exciting that we think about it pretty much all the time. Not only do we think about it a lot, but our thoughts are positive and strong.
When this kind of focus and energy are brought to bear in our thinking and emotion, an odd phenomenon takes place. Somehow, we begin to attract opportunities into our business and our life that support the future we envision. I can’t quite explain why or how this happens. I can only tell you that it does. It’s a very powerful, surprising, and exciting dynamic. It is the realization of the Law of Attraction. Whether you believe it or not doesn’t matter. It works regardless of your level of belief. My clients and I have all experienced it. None of us shifted our attitudes and expectations in an effort to make it happen. We just shifted naturally and we each got those unexpected, positive results.
Now that I’ve hopefully impressed upon you the significance and positive potential of reinventing your business, let’s talk about some practical ways you might be able to accomplish this . The first area to consider for re-invention is your existing line of products and/or services. We need to examine how we can embellish or augment our products, embellish or augment our services, and embellish or augment how we deliver our products and services. Everyone’s products and services are different, so in this article I can’t really offer specifics related to them. However, I can offer some ideas relative to embellishing and augmenting how we deliver our products and services, and how we can improve our customer’s/client’s experience.
People crave to be heard and to be acknowledged. Look for ways to make clients feel special. Examine your processes and look for all the times when you treat clients and prospects just like everyone else treats them. Every time you discover a step in your process that is just like everyone else’s process, develop ways to make your client or prospect feel recognized and special. The more unexpected the action, the greater the impact and buzz it creates. It can be as simple as having a sign in your lobby welcoming them by name or as unusual as sending them an unexpected gift or an invitation to a special event.
By the way, the act of giving a gift or something of value to them – in advance of doing business – triggers one of the universal influence factors – RECIPROCATION. When a person receives something nice from someone that is unsolicited, it creates the need to reciprocate. Although it doesn’t work 100% of the time, it will significantly increase the likelihood of someone choosing to do business with you.
The second strategy for re-invention is to add complementary products and services. By giving clients and prospects more choices, you are able to provide them with just the right solutions for their problems. By offering additional, complementary products and services, you can increase the average size of your sales and also attract new clients.
The bottom line is that reinventing your business can provide an enormous boost to your results. You’ll attract more clients, increase the size of your sales, build client loyalty, and re-energize both yourself and your life.