Andrew Knight New Canaan is a business developer who enables companies to improve their online presence using software solutions. As a pioneer of the digital world, he believes that long-term success is directly related to customer awareness. Given his skill set, he takes advantage of programming to raise that awareness to the next level.
How do you fight off the competition and new companies in your market?
I focus on customer retention rate and try to keep it at a high level. That means that my previous clients come back for additional work. Establishing such loyalty makes it easier to fight off some of the commercial businesses that are operating in this market. It also helps me expand my network via word-of-mouth referrals.
Can you talk about one challenge that you faced in the last 12 months?
I have not had a lot of time off recently. Certain parts of the year are quite busy, and I tend to receive a lot of requests simultaneously. So, although it was not necessarily the last 12, the previous few months have truly been busy. Meaning, my main challenge revolved around timeliness and staying organized while always multitasking.
What are some of the main costs to run your business?
Traveling expenses sometimes run high as I have to visit clients at their locations. Doing this helps me understand their businesses better, and I enjoy it. Nevertheless, it comes at a steep price that fluctuates, and I sometimes view these as variable costs. Also, I spend a lot of money on tools that involve high-capacity computers and online subscriptions to various platforms. Those, however, are necessary regardless of where my work takes place. So, I tend to identify them as the fixed portion of my expenses.
Do you think you will remain in your current position for the foreseeable future?
I certainly hope so. My business is growing exponentially, and I am attracting more potential clients almost every day. Although the demand goes up and down, I think that my focus on this industry will remain unchanged for the time being. After all, why try to fix or change something that is operating smoothly?
What does the future hold for your company?
Expansion. As I mentioned, the last few months have been quite busy. If that pattern continues, I will look into delegating some of my work to people that I can hire as independent contractors. They can then do some of the projects that I cannot get to while earning a fair share of the fee. It will also help me acquire more long-term buyers.
What are some of your day-to-day duties nowadays?
It varies on a project-by-project basis. Sometimes, I spend the entire day at home programming some software. Then again, a lot of days revolve around client visits and administrative duties. Since I work in such a fast-paced environment, I do not keep an hour-to-hour schedule of all my daily events. Instead, I deal with the most urgent matters first and everything else later.
Are you changing your marketing approach as you expand into new markets?
Changing? No. Am I looking for new techniques? Absolutely. I am not sure if that can be labeled as a “change” since I am technically still keeping my previous methods. For example, if an online campaign did well, I will do it again. If, however, I find a better approach one day, I will start using it more while the online campaign takes a backseat. Nevertheless, I will not eliminate any particular campaign until it stops being profitable.
Would you ever consider expanding to the West Coast?
I would look into it. Even though I have not thought about the West Coast specifically, expansion is unquestionably on my radar. When the time comes for me to look into new areas, I will base my decision on the market conditions. Speaking of West Coast, I know that the demand is amazing, but the costs of businesses are also remarkably high.
What team-bonding activities does your company do?
Whenever I am connecting with a new associate or a client, I start the conversation with topics that are not work-related. This helps all of us get to know one another and understand each other’s perspective. Only then can we move on to a professional discussion about work. In my opinion, spending time getting to know someone is an investment that can be very useful!