Direction in Challenging Times

In today’s economy, most businesses are not growing because their customer base is struggling.  Rather then throw up your hands and believe you just have to ride it out with everyone else, why not take this time to take a hard look at your business.   Think about who might be doing well in this economy and see it that segment could become another segment of your business. 

Companies that are doing well may not be hard to find.  Consider companies that are involved in foreclosures, reposession, or law suits.  Initially you may feel that you are acting like a vulture, but these companies may need what you offer to handle the volume, and the business world needs the fate of the weaker companies to be resolved before a steady rise can be sustained.  The results are likely inevitable, so if your company can help clean up the mess, why not participate?

 As a first step, do a SWOT (Strenghts, Weaknesses, Opportunities and Threats) analysis to see where your strengths may line up with opportunites.  That might be the first area to consider if it aligns with your vision and values (if you don’t have a company vision and values, you need to get there because you are driving down the highway without directions).

So, first decide that you are not going to participate in this recession; second if you don’t have a vision or values, develop them; thirdly, look for opportunities that align with you strenghts, and lastly, make yourself known in that new segement through marketing (develop you USP, Unique Selling Proposition)and sales (call direct once you have your USP).  If you need help with any of this, mPower Advisors is well versed in all areas mentioned above.

This entry was posted on December 21, 2008 at 5:50 pm and is filed under Marketing, Pearls of Wisdom. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.

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