Although there are hopes of recovery on the horizon, we are still living in a shrinking economy. Here are some business ideas that have proven to be good or bad. Take the time to make adjustments in your business to reflect these principals and you can grow despite the economy.
Increase your marketing and your promotional budget. If you stop advertising, your growth will stop. You must have your brand in front of an audience that is your target.
Continue to make your existing customers feel important. Don’t want to act like a number. They need to be appreciated and valued. Personal contact with each customer each week. You need to start the call and it should not be about getting a sales pitch or order.
Remember that consumers change vendors daily. This means you must work daily to keep your brand in front of competing customers. Wow to compete customers with the focus of your care. Remember that you are also competing with your clients.
Remember that business relationships are not permanent. Business deals are based on relationships, so if your company’s staff changes or if the customer’s company staff changes, you may lose your business. Work constantly to increase the value of the existing customer so that they maintain their business so that they get in your way. At the same time, promote your company consistently through PR, advertising and presentations.
Market your business so that customers feel they can do what you need to do. Forget what I can do for you. Focus on what needs to be done. The first appointments should be about listening to what your potential client wants, feels or thinks. In other meetings your client should connect with what he or she wants to do.
Always find out what new opportunities are available. If IBM had said that we provide the best typewriters available, there would be no need for change. If you do not include the latest and greatest in your business, you can bet that there will be competition.
A shrinking economy forces businesses to rethink their core ideas. As you explore these perspectives, you are also forced to change how things are done and how to reach more clients. If you learn to reach more clients even in times of a shrinking economy, you will be able to grow even more as the economy changes.