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Executive Insight Tip of the Week, December 10, 2009
Sent Thursday, December 10, 2009
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Executive Insight
Tip of the Week
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Hi !
Welcome to this week's issue of Executive Insight.
Know Your Niche
I had a conversation recently with my colleague, Bob, whose business had a phenomenal year in 2009. It was a breath of fresh air talking to him, since most people I know can't wait for this year to end and for 2010 to begin. Of course, I asked him to share what made the year so great.
His answer centered on the fact that his clients in health care weren't hit by the recession the way so many other market segments have been affected. Naturally, he is doing some serious planning in terms of the yet-to-be-known impact of health care reform, but for now, his business is thriving in this sector.
Some might say that Bob was in the right place at the right time. I would say that he built a strong niche, understands it, and knows how to work it.
Do you know your niche that well? In fact, do you have a niche? This is a good time to think about this as presumably, you're thinking about your business direction for 2010.
You don't need to be wedded to only one segment, and, in fact, clients in one segment don't even need to realize that you have expertise in another segment. The key is to identify where there is a good match for your products and services wrapped around an industry premise that makes sense.
Make a list of clients you've done business with in the past few years, and look for patterns. Even if you're the quintessential generalist, you'll find some clusters.
Think about how you can effectively connect with these clients - and prospects like them - to give you a leg up in early 2010.
And, of course, give us a call if we can help you with the process.
Have a great week, and Happy Hanukkah!
 Copyright 2009 Lisa M. Aldisert
Lisa Aldisert is the president of Pharos Alliance, Inc., a management consulting firm that works with organizations in the areas of strategy, business development, and organizational/leadership development. Give us a call at 212-332-3241 to see how we can help you create strategies that make sense for your organization, and result in increased revenue and profitability. |
 Issue #37,
December 10, 2009 ISSN 1947-2889
Our goal is to provide you with timely tips so that you can more effectively run your business. We know you have a ton of mail in your inbox, so we're committed to brevity and practicality.
Leadership and the
Bottom Line
I recently observed a "chest-thumping" CEO spewing from the platform. The more he emitted, the more he lost the people in his audience. This behavior usually backfires, so just don't do it.
Personal Power
So many people rushing to and fro from one party to the next....make sure you stop and smell the eggnog while you're celebrating the season.
Trend Watch
Are we seeing a return to the use of barter in business? Read a Wall Street Journal article that shows how barter is working for some independent restaurants.
Editor
Julia E. Rosenbaum
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