"The Business Boomer"
Business Tips For Great Success
What Has A Duck And A Business Owner Got In Common?
I heard a great analogy the other day in relation to a business owner and a duck. A duck appears to be smoothly gliding through the water but if you could look under the water you would find that it is frantically flapping it’s legs and webbed feet. I have never met too many business owners who are not like that either. You can walk into most businesses and it seems like every thing is running smoothly and they appear very profitable etc., but the reality is many businesses are one or two disasters away from going broke and the owner is working his ass off to keep the business afloat!
Only just in the last week in my neighbourhood there were two pubs that closed down that have been around for years (one since the 1800’s). One of the owners was interviewed by the local newspaper and he gave the usual failure reason in that “people had less money these days’’ and also the fact a lot of new small bars have opened up near by and they took a lot of his customers.
Now, a lot of his customers may have gone to these new bars but I live near this pub and I never received any flyers in my letterbox promoting his pub, I get the free weekly city magazine in my letterbox every week and I have never seen any ads in there promoting his pub, I have never heard any ads on the radio promoting his pub, I have never seen an ad on Face Book or anywhere on the internet promoting his pub etc. The only promotion of his pub that I saw was when I walked by it and there were posters on a window or door promoting some show or event they had coming up.
Again, this fellow knew next to nothing about marketing and it is well known that 80% of all businesses go broke in their first five years and a lack of marketing or a lack of effective marketing is the no.1 reason why this occurs. This fellow only had been running this hotel for about 3-4 years so his lack of marketing nous made him come undone when new bars opened in his area and they are young market savvy people who heavily use social media that have taken over these bars, from what I have seen.
So if you want to be less frantic (caused by a lack of income) and drive in more business - constantly review your marketing and it’s effectiveness and incorporate things like Face Book marketing that targets your local area. Also, even basic things like your signage and front of building may need a paint job or spring clean etc. And also be aware of what is happening in the business environment around you so that you know if any new competition is starting up so that then you can act accordingly marketing wise.
All the best,