"The Business Boomer"
Business Tips For Great Success
It's Not Good Or Bad Economic Times That Determines Your Business... You Do!
I talk to at least 30-40 business owners a week and just over two thirds of them are doing well and the rest are struggling to various degrees.
Upon questioning these 2 groups I found a recurring theme â€” the business owners that are doing well are big on marketing their business and therefore have realized that in order to get a lot of business and profit they have to spend enough & consistently enough on marketing for this to come about. I also find they have excellent service & are positive upbeat people too (which is part of marketing as well).
The rest that are struggling I find, don't spend enough on marketing (if at all) & in fact most are using the wrong "why" of the so called tough economic times as the reason they are doing so poorly.
The truth is most of these business owners are making the most fatal error in business by cutting back or cutting out their advertising in order to "save" money.
By the number of "For Lease" signs I've seen on empty shops recently, most of these people would have made that same mistake. (A lack of marketing is the No. 1 reason why businesses fold per statistics).
Now when I ask these struggling business owners what are they doing besides cutting back on their advertising to "help" their business & financial situation, they invariably say "Nothing, we're waiting for things to get better"!
Sadly, nearly all these businesses will "go by the boards" within the next year or two, simply because they don't understand the importance of marketing their business & being causative themselves.
The truth is their customers end up going to their competitors who more aggressively market their business.
So in summary a standard business philosophy to follow is: to continue to promote & market your business effectively & consistently no matter what shape the economy is in, but it's even more important when times are tougher as you will then inherit the customers of the businesses that are trying to "save" by cutting back on their advertising.