Dennis Hummel’s Post

Aligning for Success: Building Long-Term Value with Your Customers Entrepreneurs, are you struggling to find customers who truly resonate with your brand? The key to sustainable growth might lie in aligning your business and customer interests! A recent article in Entrepreneur highlights the importance of building customer relationships based on shared values. Here are some key takeaways to consider: - Know Your Value Prop: A strong understanding of your unique value proposition attracts the right customers. Don't chase trends; focus on what makes you special. ✨ - Authenticity is Key: Building trust and credibility requires transparency. Stay true to your core values and avoid inauthentic marketing tactics. Be yourself, and the right customers will follow. - Focus on Long-Term Value: It's about more than just a quick sale. Think about how your product or service can genuinely benefit your customers in the long run. By aligning with your customer's interests, you foster loyalty and create a foundation for sustainable growth. Read the full article for more insights: https://buff.ly/3QqgykV #entrepreneur #customercentric #growth #business #alignment

Scaling a business is a multifaceted endeavor, and two key pillars that entrepreneurs often underestimate are identifying growth opportunities and fostering customer loyalty. First and foremost, identifying opportunities for expansion requires a keen eye for market trends and customer needs. Entrepreneurs should remain agile, ready to pivot and adapt to changing circumstances. Conducting thorough market research and competitor analysis can uncover untapped niches and emerging trends that present avenues for growth. Moreover, a business's existing customer base can be a goldmine of opportunity. #ScalingABusiness #BusinessGrowth #CustomerLoyalty #Entrepreneurs

Your Small or Mid-Size Business, and The VOC & ©DRP When it comes to the VOC (Voice Of Customer/Client), setting the expectations, we all have heard the similar story, that Client requested/expected "Square"; it was assumed as "Rectangle" during the process, and finally delivered/rendered as "Circle"; totally deviating from the Original VOC. Yet, if the VOC is very clear, how is it possible that in many cases, the outcome is different from expectations? In response, by avoiding to enter the complexities of the Project & Process Management Discussions, specially related to Small & Mid-Size Businesses, we could often simplify the related contributing attributes as: 1- People 2- Process 3- Information In other words, irrespective of the nature of the VOC, a Small or Mid-Size Business is continually dealing with all Three Elements of ©People-Process-Information Business DNA (©PPI), and is required to be fully aware of the interactions, and possible risks arising. And, to build a solid approach, a Small or Mid-Size Business is recommended to develop an internal, even customized, process, similar to the ©Dynamic Requirement Planning (©DRP) with its Eight Intermediate Steps between the VOC & Materializing it precisely. Now, as the Key Decision Maker(s) of Your Small or Mid-Size Business,   1- How do You translate the VOC into Realistic, Tangible & Attainable Goal/Objective? 2- From the VOC to Materializing it, what specific process/approach do You use to deal with the complexities arising from the interactions of the ©People-Process-Information Business DNA (©PPI)?   Think about it! If you wish to have a one-on-one, private & confidential conversation about your Business, be sure to take advantage of our very unique ©Business Support Initiative. ©Business Support Initiative: https://lnkd.in/g68Q9i48 For all Complimentary Business Articles, please visit: https://lnkd.in/g8TPCKd #business #businessfundamentals #businessstrategy #businesssupport #smallbusiness #entrepreneurship #entrepreneur #SMB #smallbusiness #midsizebusiness #midsizedbusiness #sales #salesstrategy #saleswithoutselling #marketintelligence #marketestimation #businessforecast #marketforecast #marketing #busienssfinance #businessadministration #administration #businessowner #businessrisk #risk #businessadvisory #businessconsulting #businessplan #businessroadmap #businessowner #businessforecast #financialstatement #businessloan #businessaccounting #businessmanagement #people #process #businesgoal #businessobjective #businesschallnge #information #businessDNA #chamberofcommerce #boradoftrade #businessconnection #businessconnectivity #businessgrowth #businesssuccess #businessperception #businessreality #businessculture #businesscommunication #businesscontinuation #businessprocessmap #smallbusinessweek #smallbusinessmonth #businessinitiative #businessadministration #successionplanning #businessexitstrategy

Goal setting in business can be puzzling. There are countless metrics to focus on: - Annual Revenue - Profit Margins - Customer Acquisition Costs - Customer Lifetime Value - Return on Investment - Etc... Surely some metrics matter more than others, right? I've been setting business goals for over a decade, and I've figured out that it all boils down to these two strategies: 1️⃣ Achievable Goals with Milestones: ↳ Set a realistic $1M annual revenue goal and break it down into manageable quarterly milestones (e.g., $200K in Q1, $400K in Q2, $700K in Q3, $1M in Q4). ❔ The benefits? Realistic planning, steady motivation, and easily adjustable strategy. 2️⃣ Stretch Goals: ↳ Aim for an ambitious $2.5M revenue target, encouraging out-of-the-box thinking and bold strategies. Even if you fall short, achieving $1M or more is still a significant success. ❔ The benefits? Innovation, high motivation, and significant results even when falling short. You may ask which approach is best? Both can be effective, depending on your risk tolerance, available resources and market environment. P.S. Are you more driven by achievable goals or by stretch ones? ______ Follow me for more tips on entrepreneurship and business growth. Repost this content with others to share value and grow! ♻️ #BusinessGoals #Entrepreneurship #GoalSetting

3 Business Basics to Remember in 2024 #entrepreneurship

In the fast-paced journey of entrepreneurship, it's easy to get caught up in the need for rapid growth. But what if we told you that slowing down and embracing the "think small" mentality could be the game-changer your business needs? Explore these three powerful ways that focus on the little things can make a big difference for entrepreneurs. Read more here: https://lnkd.in/g-h48mYj #cbicc #chamber #smallbusiness #smallbusinessstrategy #businesstips #businessstrategies #business #chamberofcommerce #chamberofbusinessandindustry #businessgrowth

As we approach the last quarter of 2023, businesses start assessing their performances, and many consider scaling and expanding their... #entrepreneurs #praqticalmarketingworks #smallbusiness

Entrepreneurship is a mindset, a journey, and a pursuit of innovation and growth. It is about being able to adapt to any situation and thrive. For entrepreneur to succeed and sustain growth it is important to strategize and think of ways to continuously be able to survive in the market. Here are some strategies entrepreneurs can follow to help achieve that: ✔ Continuous learning: fundamental since the business world knows a never-ending evolution. Mentors and industry experts must learn from each other to expand their knowledge base. ✔ Innovation: a non-negotiable and should be encouraged within every organization. Experiments, taking risks and not being afraid of failure are important steps towards improvement. ✔ Diversified and talented teams must understand the needs of their customers, gather feedback actively, and tailor their products or services. ✔ Data-driven decision-making: helps identify trends, target markets effectively, and optimize operations to acquire sustainable growth and not only rapid expansion while maintaining financial prudence. By embracing different entrepreneurship strategies, organizations can thrive, businesses can have higher purposes and build robust professional networks. Enjoy the read. Hope you have a successful 2024! #Businesses #entrepreneurship #growthstrategies #innovation #success

SCALING YOUR BUSINESS: STRATEGIES FOR AMBITIOUS ENTREPRENEURS As an ambitious entrepreneur, scaling your business is likely one of your top priorities. Scaling allows you to expand your operations, increase your customer base, and ultimately achieve long-term success. 1. Embrace Your Entrepreneurial Spirit To successfully scale your business, it is crucial to tap into your entrepreneurial spirit. Entrepreneurs are known for their innovative thinking, risk-taking abilities, and determination. Embrace these qualities and use them to your advantage. Think outside the box, identify new opportunities, and be willing to take calculated risks. Your entrepreneurial mindset will be the driving force behind your business's growth. 2.Develop a Solid Business Plan A well-crafted business plan is essential for scaling your business. It serves as a roadmap, outlining your goals, strategies, and financial projections. When developing your business plan, consider the following: - Set Clear Goals: Define your short-term and long-term goals. These goals should be specific, measurable, attainable, relevant, and time-bound (SMART). - Identify Target Markets: Conduct thorough market research to identify your target audience. Understand their needs, preferences, and pain points. 3. Build a Strong Team Scaling your business requires a strong and dedicated team. Surround yourself with talented individuals who share your vision and are committed to your business's growth. When building your team, consider the following: - Hire the Right People: Look for individuals who possess the skills, experience, and passion necessary to contribute to your business's success. Conduct thorough interviews and reference checks to ensure you make the right hiring decisions. - Foster a Positive Company Culture: Create a positive work environment that encourages collaboration, innovation, and continuous learning. A strong company culture will attract top talent and keep your team motivated and engaged. 4. Leverage Technology and Automation In today's digital age, leveraging technology and automation is crucial for scaling your business efficiently. Consider the following strategies: - Implement Scalable Systems: Invest in scalable systems and processes that can handle increased demand as your business grows. This includes customer relationship management (CRM) software, project management tools, and automated workflows. - Embrace E-commerce: Expand your reach by establishing an online presence and selling your products or services through e-commerce platforms. This allows you to tap into a global customer base and increase your revenue potential. Learn more on Techgetty’s blog https://lnkd.in/dV-mtyi2 #Techgetty #Entrepreneurship #Businessgrowth  #BusinessSuccess

How To Develop Your Idea Beyond The Lightbulb Moment And Create A Successful Business Developing an idea beyond the initial lightbulb moment is crucial for creating a successful business. Deepen your understanding of the industry, target market, and competitive landscape. Identify trends, pain points, and opportunities. Here are key steps to help you transform your idea into a thriving venture. https://lnkd.in/gvSc6hes #BusinessDevelopment #Entrepreneurship #StartupJourney #Research #SmallBusiness #IdeaExecution #BusinessTips #strategy #planning #competition #projections #MVP #advertising #contentmarketing #financialmanagement NerdWallet Hostinger HubSpot Zapier PICS WPBeginner