Regardless of your industry or size of your business, many of you are saying the same thing, "Business seems to be drying up. The phone just isn't ringing like it used to."
Why is that? Is it all the recession? Or is there something that you are or aren't doing that is contributing to your current situation?
If you ask me, the recession is a contributing factor, but it isn't the only reason your sales and profits are down. In my opinion, blaming some THING or some ONE else is a victim's attitude.
With every crisis, there is an opportunity to create a new success. So your job is to find that opportunity and seize it - to take the actions that no one else is willing or able to take in your market.
And so, I offer to you that making the phone ring and customers walk through your door isn't something you can fix today. It required weeks of work and investment in marketing that should have begun long before now. So stop stressing about it. Use that energy to launch yourself to the next level. And focus on what you can do NOW to affect your business tomorrow, next week and next month.
You see, you can't change your current reality any more than you can change your past. You are where you are right now, because of your actions (or in-actions) of the past. Today, you can only change your future, not your present. So unless you want to have the same conditions next month as you have today, it's time to look at what different actions you are going to take RIGHT NOW to change your current reality into what you want for the future.
The next couple months and years are going to be tough. But I can promise you this, they will be a lot tougher, if you don't get involved and start taking control of your own destiny. Odds are no one is going to bail you out.
Of all the times to be a business owner - now is not the time to sit on the sideline and wait for customers to find you. Get out there and be willing to take chances. Start taking control of your business - take control of your marketing and rather than waiting for your phone to ring, MAKE IT RING.
Make your potential customers choose you over every other option they have to spend their money.
Showing posts with label recession. Show all posts
Showing posts with label recession. Show all posts
Tuesday, March 10, 2009
Friday, February 27, 2009
Posture to Grow Your Market Share
In an article in Newsweek published Feb 9th, writer Craig Barrett, states that market share is won and loss in times of transition. And WOW, are we in a period of transition!
Between the transition to a global market, a near complete redefinition of the marketing industry through the effective use of inbound marketing, and the current recession, there is more "opportunity" for growth than probably any time in history - for those bold enough to take the risk.
That's right, Capitalism is alive. For those willing to risk, there is a great opportunity for large rewards.
In the article, the retired CEO of Intel, writes "you cannot save your way out of a recession, you can only invest your way out." Unfortunately, we are looking for the wrong people to invest - it's not the Government's job to invest our way out - it is the responsibility of Businesses.
No matter what the size of your business is today, you should be posturing yourself for the growth that is coming - investing time, money and energy to position yourself for the inevitable upside of the market.
But what should you be investing in?
In my opinion, the answer is simple - Your Systems and Your People.
Your systems got you through the last phase of growth, and they are keeping things working through the downturn. But are they as efficient as you need them to be in the coming market boom? Are you postured to compete in a world class, global market? Are you ready and capable of handling growth of 100% or more annually? If not, when growth hits your business, will you collapse under the weight of your own potential? These are all questions you should be asking yourself and your staff.
And your people - are you leveraging their talents? Are you even postured to? Most businesses look at employees as expenses, because of the cost every pay cycle. But few leverage the real talent each individual brings to the table. And even fewer businesses really train them or work on gaining their commitment to the vision of the business. This is the time to turn your employees from expenses to assets.
These are very tough questions, that I believe every business owner needs to ask. But more importantly, they are questions that every business owner must answer. Because when the wave of growth begins (and it will hit), they will be more likely washed away, than be postured to ride the wave to new heights.
Between the transition to a global market, a near complete redefinition of the marketing industry through the effective use of inbound marketing, and the current recession, there is more "opportunity" for growth than probably any time in history - for those bold enough to take the risk.
That's right, Capitalism is alive. For those willing to risk, there is a great opportunity for large rewards.
In the article, the retired CEO of Intel, writes "you cannot save your way out of a recession, you can only invest your way out." Unfortunately, we are looking for the wrong people to invest - it's not the Government's job to invest our way out - it is the responsibility of Businesses.
No matter what the size of your business is today, you should be posturing yourself for the growth that is coming - investing time, money and energy to position yourself for the inevitable upside of the market.
But what should you be investing in?
In my opinion, the answer is simple - Your Systems and Your People.
Your systems got you through the last phase of growth, and they are keeping things working through the downturn. But are they as efficient as you need them to be in the coming market boom? Are you postured to compete in a world class, global market? Are you ready and capable of handling growth of 100% or more annually? If not, when growth hits your business, will you collapse under the weight of your own potential? These are all questions you should be asking yourself and your staff.
And your people - are you leveraging their talents? Are you even postured to? Most businesses look at employees as expenses, because of the cost every pay cycle. But few leverage the real talent each individual brings to the table. And even fewer businesses really train them or work on gaining their commitment to the vision of the business. This is the time to turn your employees from expenses to assets.
These are very tough questions, that I believe every business owner needs to ask. But more importantly, they are questions that every business owner must answer. Because when the wave of growth begins (and it will hit), they will be more likely washed away, than be postured to ride the wave to new heights.
Sunday, January 11, 2009
Small Businesses Hurting From Failing Economy
As my first Blog on my new Blog site, I've decided to go right to the heart of the problem for small businesses today - "blame it all on the recession." Every where you turn, that's all you hear, the recession is killing small business. Or "The customers just aren't coming in any more." In fact, the link from the Headline of this blog takes you to a Newsweek article that talks about all the woes of small businesses all around the country and how devastating it is to our economy.
Times are tough, there is no doubt about it. And based on the news media and all the politicians bold enough to speak on the subject, things are NOT getting better anytime soon. But the truth of the matter is this, you can blame your woes on outside circumstance and believe that you have no accountability in your current situation or you can look take control - figure out a solution and move forward.
That sounds crazy I know, but no matter how bad things get, people still need to eat. They need to buy gas, drive their cars, get them fixed, buy new clothes or maybe even take their family to see a movie. And someone has to provide all of those services - why can't it be you.
In any economy, businesses that can't adapt to the changing conditions will go out of business. Unfortunately, in today's world, we seem to believe that the Government should bail them out. But that doesn't fix the fact that they aren't running their business in the manner necessary to succeed in the new economic environment.
Everyday, men and women of all walks of life are spending their money. It may be less than it was 6 months ago, but the are still spending money. How are they spending it? Why are the spending it? And where are they spending it? These are all questions that every business owner needs to ask, if they wish to survive - not just in a bad economy, but in a thriving one as well. And once they find the answer, they need to find a way to get these potential customers to spend it in their store instead of where they currently are - not because your business provides the best product or the fastest service - but because your business provides the product and / or service that the customers want.
That is the essence of business - regardless of the economic conditions. And that is the essence to running a business that is "recession proof".
Times are tough, there is no doubt about it. And based on the news media and all the politicians bold enough to speak on the subject, things are NOT getting better anytime soon. But the truth of the matter is this, you can blame your woes on outside circumstance and believe that you have no accountability in your current situation or you can look take control - figure out a solution and move forward.
That sounds crazy I know, but no matter how bad things get, people still need to eat. They need to buy gas, drive their cars, get them fixed, buy new clothes or maybe even take their family to see a movie. And someone has to provide all of those services - why can't it be you.
In any economy, businesses that can't adapt to the changing conditions will go out of business. Unfortunately, in today's world, we seem to believe that the Government should bail them out. But that doesn't fix the fact that they aren't running their business in the manner necessary to succeed in the new economic environment.
Everyday, men and women of all walks of life are spending their money. It may be less than it was 6 months ago, but the are still spending money. How are they spending it? Why are the spending it? And where are they spending it? These are all questions that every business owner needs to ask, if they wish to survive - not just in a bad economy, but in a thriving one as well. And once they find the answer, they need to find a way to get these potential customers to spend it in their store instead of where they currently are - not because your business provides the best product or the fastest service - but because your business provides the product and / or service that the customers want.
That is the essence of business - regardless of the economic conditions. And that is the essence to running a business that is "recession proof".
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