The Problem with Business Growth

The problem with sudden business growth is that it can cause issues inside the firm to appear or become amplified. Growing slow is easy. Growing fast can be challenging, especially when you don’t have an appropriate service model, process, or the right staff in place. Many wish for the “problem” of rapid growth, but when it happens to you it can be like a surprise party you absolutely did not want.

One way to make sure you are meeting the needs of all of your clients during periods of growth and expansion is through conducting a survey. Using Survey Monkey or even a paper survey can be very helpful to truly be able to see and analyze your service and company.

Net Promoter Score
Consider using a simple Net Promoter Score to assess how you are doing. The net promoter question is simple: On a scale from 0 to 10 it asks clients:
“How likely are you to recommend (this company, this product, this experience, this representative) to your friends, family or business associates?”
Depending on their response, customers are divided into three categories:
 detractors, passives, and promoters. It is a great way to rate what your clients feel. You can also compare yourself to others who have used this same calculation.

You could also include the following, and ask clients to rate you on a scale of 0 to 10 (zero being the worst and ten the best, or zero meaning they completely disagree with the statement and ten meaning they completely agree):

  1. Our organization is totally committed to the idea of keeping
    you informed and satisfied.
  2. When it comes to our services, we play more of a consultative and partnership role with you.
  3. We regularly provide information of value to you.
  4. We have adequate contact with you.
  5. Our employees often go above and beyond to serve you well. 
Anyone in particular? _____________________________________________
  6. Would you share (or have you shared) information about our firm with someone else who has a need for financial services? Yes/No
    If No, why not? ___________________________________________________

Sending out a survey to all of your clients one time per year is smart business. You may also want to send out a mid year survey to your newest clients to make sure you continue to turn new customers into long time clients.

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