It is amazing to see how money businesses go up and down along with the seasonal change of recession and non recession swing. Once in 10 to 12 years our economy gets affected by recession and if I don’t accommodate it in a business plan then this may become a wrong plan. This may sound arrogant but truly speaking it is not. Many of the business success stories were created in the recession time.
The other myths that exist is that the luxury products won’t do well in a bad economy and the things that work is only the necessity products like toilet tissues. The reason it is a myth is because, IPad was launched in this timeframe and became a success story. By any stretch of imagination iPad is not the product of necessity but a product of luxury. When IPad was launched, many people who stood in the queue to get the iPAD on the day one of the release of more than one computer in fact they have laptops but still they wanted iPad and stood in line to get it to make that as one of the most successful launch in the history.
So in a nutshell, it’s not about what kind of product or service we sell but rather the perception we create to our customer and the way we connect with them. I do understand not all businesses can become Apple in marketing their products. But every business can plan now how they will connect their product or service with their customer ,that they feel the necessity to get it and mainly through your business.
You got to have a business plan for business. This may sound simple, but it’s weird to know how many businesses fail because of lack of business plan. Good times and bad times got to be packaged in the business plan. Otherwise we could become a real estate investor who might’ve thought the value of the property will only go up to learn a hard lesson.
You may be thinking, this would be good if I would only heard this before I launched my business but now my business is up and running and what we do now. This is very true, but what you can do is putting a business plan now and figure out what is the right way to do to turn around the business. Many times it could be even simple things that could turn around a business to your wildest imagination.
- good customer service or improvement in that area
- inquiring and understanding your customer on the product, service you provide
- interviewing the customer on the improvements that they seek from your business
- taking your business online to sell your product or service beyond the boundaries of your operation at this time
- running some exciting promotions to keep your business fresh and exciting for your customer base
- changes or upgrades in your marketing strategy
The above are only samples for your thoughts. You should interview, inquire, and investigate your business to see what works and what doesn’t. It is very important to chart out the business plan on a board to do the reality check. If you believe in your product or the service you provide strongly and if you have a good business plan that is covered for both good times and the bad times and if you’re open minded to improve, enhance and expand the business can be turned around or taken to the next level. You can contact our courtesies customer service advisors to chart out online expansion of your business also coupon and discount marketing and for online marketing strategy and cost effective solution if needed at nextultimate.com