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Everything to everyone

This is something that many small businesses strive to be and usually it is a hindrance to the firm’s development. Unless you have dedicated staff and departments dealing with different customer types it is not achievable without damaging growth. The best way to attract business is often being very good at a narrow range of products or services, especially early on as the business develops. Later on it may be feasible to develop your offering once you are established and have a reputation.

You cannot be all things to all people – you need to choose the type of client or customer you want and focus on them. Some accountants will make a great living out of only completing tax returns perhaps with a national footprint, whereas others may prosper by only taking on clients from a particular industry. There are IT firms that specialise in solving certain types of problems or motor traders that focus on a few models or a certain price range.

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