Is your business struggling in the current economy?
In the current economy and political climate many business owners have lowered their expectations, their goals, and their dreams. Unemployment is still rampant, foreclosures are at an all-time high, stores are closing, and businesses are struggling. Optimism for the future is at an all-time low.
The real tragedy is that people get dragged down by the tide of frustration, negativity, and hopelessness. Here is something very important for you to consider.
There is absolutely nothing you can do to change the current downward economic slide. You can’t do it yourself. Powerful business leaders and politicians can’t do it. Special interests can’t do it. Nobody knows what to do to turn things around.
That is the bad news.
The good news is that you personally can change your individual circumstances and still be successful in your business, no matter what the economy is doing. This is true now, has been true in the past, and will be true in the future.
Despite the economic ups and downs, the Wall Street crash, Sept 11, the financial collapse of 2008 and the ongoing employment crisis, some businesses have consistently done well. This past year has been one of their best years.
This is due to having good, consistent marketing of their business. They keep creating products and services that serve a need and make a difference, and market them in a consistent manner.
Good marketing is only one of the factors that lead to business success. There are a few others that are also essential.
Factor 1
It is based on the quality and professionalism of your service. Therefore, the better your service is the higher the demand will be. The better the quality, the more success you will see. This doesn’t guarantee success but it is hard to have success without it.
Factor 2
The business owners’ mindset or attitude directly affects it. This isn’t about positive thinking, but thinking that is aware and awake. Those who can stand calmly amidst chaos and confusion, make good decisions and take effective actions, despite fears and doubts, will always triumph.
Factor 3
Do you have the ability to communicate the value of your services? Marketing is all about getting your message across in such a way that it generates enough attention and interest to move people into action. They want you to tell them more. Almost anyone can be a better marketer, but the worse the economy, the more important it is.
These are the qualities you see in the most admired and visionary business leaders.
They embody these Factors.
If you passively accept your situation, are resigned to the current economic realities, and sit around waiting for things to change someday, your chances of success are next to zero.
The only people I can really help are those who already understand the importance of these factors and are willing to do the work necessary to grow in each of these three areas.
It is simple, but not necessarily easy. What can you do and where can you start? Here are a few ideas that can be applied in your business.
1. Commit to continuous improvement. Know that you can always increase your knowledge, understanding, and skills. Learn something new every day that will strengthen your factors.
2. Look at your business though the eyes of your clients. What would they want? What would help them? How can I make my services better, easier, simpler, more valuable, and more fun? If I was a client, what would I want? And then work on one thing at a time to make it happen.
3. Know thyself. Make it a lifelong endeavor to learn your strengths and weaknesses and discover ways to work with more focus, energy, and inspiration. There is no simple formula for this. It can start with the question like this: “What can I do to improve my productivity, value, and personal awareness?”
4. Surrender to marketing. You can resist it forever, like eating your veggies or flossing your teeth, or you can just work on marketing a little every single day. Consistent learning, practice, and skill-building ultimately leads to mastering marketing.
5. Get support. If you think you can do this alone, you are deceived. You can’t. You need to be guided by those who have travelled the territory before you and who can save you time, energy, and money to help you get there faster and in one piece.
6. Learn about others’ success. Much of your success can be built upon the stories of others who have succeeded. I’m always looking for specific, how-to strategies, and tactics that work consistently to produce results.
The Bottom Line: You can succeed beyond your wildest dreams, even in this economy. But it will not just happen. It takes a certain degree of commitment, work, and persistence to take each of the factors to the next level.
Steven J. Beaman is the founder & principal owner of BCSG, LLC, a general business consultancy and coaching organization whose primary focus is independent professionals and small businesses. Steven helps businesses to determine the constraints that are causing them to become stagnant or unproductive. He also assists start-up businesses to determine the roadblocks or obstacles that they may not have perceived. He also guides organizations through the start-up process, rapid business growth, or a turnaround situation. He does this using his wealth of management experience gathered during his over 35 year career of managing a variety of business functions in both small and medium businesses. He has expertise in numerous types of businesses (for profit and non-profit).
Link to BCSG, LLC is http://www.bcs-mn.com
