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Advertising, Sales and Marketing
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How Will Your Business Respond to The Challenge of Change?Copyright 2003 Bob Leduc Most new business owners expect to devote a lot of time and effort to getting their business established. Then, they plan to relax as the business "runs itself" and continues to grow. This was an achievable goal in the past. It isn't today. Aggressive, innovative competitors and rapidly changing technology make it impossible to establish a system today that will automatically meet all future challenges. Expect Change Make it a habit to look for changes that may be a developing trend. Then try to determine how this trend may impact the growth of your business. You can develop the best solution to a problem when you catch it early and take your time to carefully work out your response. There's nothing more difficult than trying to make good long term business decisions at the same time you're trying to rescue rapidly falling sales. #1. Take Defensive Action In Advance - Diversify
The primary reason you want to offer a variety of related products or services to your customers is to maximize your income. But there's a second reason. Changing market conditions or an aggressive competitor can cause sales for a product or service to decline, often suddenly. The impact won't be devastating if a variety of other products and services continue to produce business for you. The same applies to your marketing. You'll reach more prospects and generate more sales by using a variety of marketing methods instead of just one or two. But it also protects you from suddenly losing a substantial volume of business because one of your marketing methods stopped producing results. Tip: Keep looking for and testing new marketing tools and old ones you haven't tried yet. #2. Look For Opportunity Hidden In Change Instead he set up a used sporting equipment section in his store and started advertising to buy and sell used equipment. Today most of Jeff's income is generated by sales of used equipment. His total income has almost doubled and he's even planning to expand his used equipment business to the Internet. It's an opportunity Jeff wouldn't have recognized without the challenge of competition from that superstore. The biggest challenge to business success today is change. Develop the habit of looking for the early signs that something is changing and confront it before you're losing business. Take defensive action against the impact of change by diversifying the number of products and/or services you offer and using a variety of different marketing methods. When you decide how to respond to a challenge, look for a hidden opportunity to increase business. You may find a source of additional sales and profits you previously overlooked. Bob Leduc is a Sales Consultant with 30 years experience in
generating low-cost leads. He recently wrote a manual for small business owners,
"How to Build Your Small Business Fast With Simple Postcards", and several other
publications to help small businesses grow and prosper.
mailto:postcards@sendfree.com or
visit: http://BobLeduc.com
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Disclaimer
The information compiled on this site is Copyright 1999-2012 by Attard Communications, Inc. and by the individual authors. |
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