The name of my company, The Repositioning Expert was created by my coach when she noticed that most clients who came to me for business development help were leaving with a whole new niche and positioning. With this new positioning, they were finding a lot more opportunities than before. Therefore, I become the ‘Repositioner’. So how do you know when it’s time for your company to go through this process?
When you have hit a growth plateau, it’s usually a good time to reassess the market and what you’re offering to them. Consistently flat growth is a surefire sign that you are leaving money on the table. Such as my client John. His IT company had been doing well but hadn’t really been growing any faster than any of the previous years. When we repositioned them into becoming a CRM development specialists in the semi-conductor industry, their growth doubled. They had never known about this unexplored niche until we did the work to uncover the gap in the market!
Getting Meetings But Not Closing Sales
A beloved client who had worked with me several years ago had hired a door-opening service. The service would get them coveted meetings with CEOs of large corporations. For about two years, my clients kept getting these amazing meetings and would present their services but nobody would bite. They were getting meetings but not closing sales. It’s not because they didn’t know how to present-they were my finest students and closed some dream accounts when we worked together. It’s because the market and gaps in the market have shifted and they need-you guessed it-to reposition! I’m happy to say that they have re-engaged my services to start the process of looking at what the market needs most from them at this post-pandemic time.
Sick of Current Clients
When you are finding that the word-of-mouth coming your way isn’t getting you the kind of clients you dream about, it might be time to relook at your positioning. Should you be actively targeting another kind of client? A bigger, more profitable sector? A booming industry? Also, what pain should you position yourself as an expert in? The repositioning will give you a whole new funnel for the kind of clients that you WANT to work with.
Scared of Having One Giant Client
Another issue that triggers a Repositioning effort is when a business owner has a disproportionately large client they are afraid of losing. Clients are lost all the time. Even good ones. Even happy ones and even long-standing ones. So if you are having nightmares about what it would do to your business to lose the giant whale, then you need to reposition. Possibly, your reposition could be in the same segment or in another entirely new one. The possibilities are endless.
If you’ve been wondering why your business isn’t really where you’d like it to be, take a look at repositioning your business. It might just be the shot in the arm your revenue needed.