With the rate of change currently occurring, when was the last time you evaluated your products and services from your customer’s point of view?

I’m talking about really looking at what you’re selling, thinking about the problems you can solve for your customers, and whether you’re making the profit margin you need or not.

Let’s build a process for you to do this. Write down all your products on one piece of paper and your services on another. Then list all the current issues, opportunities and problems you are solving for your customers around those products and services.

Next, ask yourself these questions while reviewing your products or services. Are they:

• Great services?
• Making the business profit?
• Products or services that don’t bring in enough profit on their own, but encourage clients to make other purchases and brings clients through the door?
• A product that could really take off with a few minor changes?
• Something you might need to hibernate for the time being until they become a desirable product?

You can rate these on a scale with all your products or services.

Now it’s time to consider which of your products to put more effort into and how to do it effectively. For example, you could alter the product/service or incorporate a marketing plan. Ask yourself the question, what will improve the product or service to add customer value and make it an important part of your business.

The final step linking your products to your budget for the year. This will help you see the different revenue each product will bring in and what to be directing your marketing or sales drive towards, or what you need to do to achieve your sales target.

This is a simple process we can help step you through, however, imagine the change in your business by focusing your energy where it needs to be and ensuring your activity or marketing is targeting what it needs to.

Now is the time to be using this process to ensure you have a full 12 months to hit your budgeted targets for the year.