So I figure a little time for an update and maybe a review of how things are progressing. First off company is still here which is clearly a positive. Whilst being a consultancy there isn't a tangible product produced such as a pen or pencil (you get the idea) what is produced is information be it in the form of quantities/costing/advise/etc.
I've managed to win a couple of tenders that we put in for and so know that there is work in the pipeline going forward. Whilst this has been a good boost for moral and good for the bottom line for the firm, there has been a downward trend with fewer tender opportunities coming to market and I can't see much changing over the next 18/24 months.
Whilst we have managed to gain some valuable Clients, these have predominantly been through contacts that I have made over the years and are similar in size and capability. To ensure we keep good working relationships I would rather refrain from offering the same services to their competitors to gain in the sort term.
There is I believe still a range of other potential Clients out there that to some degree maybe do not know that services are available or do not know who to go to. I'm at the point where I believe in order to grow the company we need to expand our Client base to these firms. There is the option of diversifying our services into other sectors but at this point I think we are better maintaining the core services rather than trying to offer something else. However I'm not sure of the best way of making inroads. I've been doing research on marketing techniques and wondered if anyone here might have any insights or reading material they could share? I'll be honest and say that I'm not great when it comes to cold calling and so far everything we have done has come about through recommendations (except successful tenders). We have recently taken out an ad in an Industry magazine to try and grow our "audience", but how well this goes, I'm not sure. I know advertising is important and part of expanding is going to be letting people know that we are here and what we can do. Does anyone have any ideas on other ways to market baring in mind limited budgets and looking at specific Client base?
Lastly I'm not sure if I'm expecting to grow quicker than we are or if I should just keep going the way have so far and let things take their natural course, if there is one. Apologies for the rambling, sometimes I feel it's easier to write this stuff down and review after a while.