Ask @ David Ananth is a special column made available to iTimes.my readers where questions and opinion sharing will be answered by one of the prominent Business Growth Consultant, Mr David Ananth. He will answer questions asked by the readers through ask@DavidAnanth.com. Readers can also share articles and contents in this column based on various topics. The best piece will be published.
I am Naveen here. My wife and I just started up an event company. We have an office in Seri Kembangan. It has been 10 months we are in this industry and so far we have organized 6 events successfully. I am very sure this is not a great achievement. As an event organizer we should be having at least 1 event weekly. We have printed out name cards and brochures to pass around. We also depend on word of mouth. Can you please guide us on how we can expand our business further? We have very high hopes to catch the market and succeed very high.
Naveen, Seri Kembangan.
Referring to question on 29/09/2014
It is always easy to make money from the strategic alliances and it will cost u less. What you need to invest is your time. You must consider the cost of printing, envelopes, phone calls, liaising with other business owners and more.
You will normally lose money on the first sale you make to new clients, so never view them as a one-time sale. Any strategic alliance campaign that covers its cost initially will turn out to be very profitable on a long term. If you simply cover your cost in short term, you will have successful strategy on yours hands.
You should consider the strategic alliance an exercise in buying customers. This means that you are giving away money in exchange for a new customer. Remember, a new and loyal customer will make you a healthy income over the course of lifetime.