Estimated reading time: 2 minutes

Dan’s Biz Bookshelf: Now… Build a Great Business!

This gem of a book is an oldie but goodie. In this fast-moving world, it is amazing that a 12-year-old book is still as pertinent now as it was then, but I guess that’s the true definition of a business classic.

Truth be known, I just reread this book for the third time since I first read it 10 years ago, and it makes sense: The advice still applies today. For example, when you start designing a great marketing plan, ask these four questions:

1. Is there really a market and are there really people who want to buy my product?
2. Is the market big enough to make it worth pursuing?
3. Is my market concentrated enough?
4. Who is my competition for the same customer dollar?

Most products fail because there is no market. It doesn’t matter if you think your product is great. If the customer doesn’t, then you won’t sell your product. It’s as simple as that.

The book covers every aspect of growing your business, including the sales process, something that too many companies do not spend enough time on. Sure, they tell their salespeople to get out there and sell but they don’t take the time to create the right sales process. It should include at least these three steps (although there are seven):

1. Prospects vs. suspects: Ask the right questions and develop a customer profile.
2. Identify needs accurately.
3. Get resales and referral.

What struck me as the most important part of the book was in creating a great customer experience, something our industry doesn’t focus on enough, but which the best companies in the world do. Authors Mark Thompson and Brian Tracy list the 12 ingredients to consider when developing a great customer experience. These range from reliability and consistency to responsiveness and specialized services.

This is a short book, and the authors pack a lot into these pages. I keep it right at my fingertips and it’s a recommended read, to be sure. Every time I open this book and read a few pages, I learn something new. If you are serious about growing your business, then make sure to read this book. Now, go build a great business.

Dan Beaulieu is president of D.B. Management Group.

Title: Now… Build a Great Business! 7 Ways to Maximize Your Profits in Any Market

Authors: Mark Thompson and Brian Tracy

Publisher: Copyright 2011 by Amacom, a Division of American Management Association

Pages: 228

Price: $24.95