In Part 1, we covered the first five benefits of increased depth and diversity in your business.
In addition to those, increased market share…
6. Makes your firm more attractive to the best talent.
Who do you think the very best people want to work for? The firm that barely manages to keep a few customers happy or the robust firm with the better book of business?
7. Reduces or eliminates leadership challenges.
When you’re busy servicing customers, there’s little time for anything else, including drama, gossip, and bickering.
8. Positions your firm to be more attractive to potential buyers.
One key factor in merger and acquisition activity is the depth and breadth of your customer base. More often than not, a broad and deep client list contributes to a higher multiple.
9. Improves employee retention.
If staff members are treated well, compensated fairly, and get to work with a solid customer base, why would they want to leave?
10. Really annoys your competition!
Okay, this is not the ultimate goal of increasing market share, but it is a nice little side benefit!
So, are you ready to grab more of your share and master your market? If so, you can start today by making a list of at least 200 companies you’d like to add to your customer base. Then, start working your sales magic to attract them to become your clients. If you’d like some additional help, sign up for my free webinar, Market Share Mastery, hosted by RecruitersConnection, on August 12th.