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It may be time to refine or reinvent your small business…

To be successful in today’s economic climate, a small business owner must continually refine and occasionally reinvent his or her company. I liken our current small business climate to hurricane Sandy that recently struck the east coast; it brought in waves of change to homes and business. Likewise, the economy, rapidly changing technology, and changing customer demands are placing our businesses in a sea of constant change.

The foundation of a small business is the capability and talents of its owner.  Many other businesses can provide the same services or products as your business. The difference is your your talents and skills that go along with those products or services. I believe that those two factors will help you stand out above your competition.

The reason I mentioned a small business owner’s talents and skills is that those two things will always be with you. The products and services you sell are second to your personal strengths, thus a need to refine or even reinvent your small business should not become a fearful undertaking. Your business, in essence, showcases your talents and capabilities.

An example of how technology is changing our business world made news today. Cyber Monday had over 1.5 Billion in sales. That is a strong indication that the way we market our services and products needs to be refined or even reinvented to keep up with customer demands and technology changes.

It’s not only Cyber Monday sales that indicate the need for a small business to look at its marketing program. Hotels and airline tickets are bought on line. The real estate industry, the insurance industry and even the legal profession now have to adjust their marketing methods to compete with what is available to the consumer online. These facts show how both technology and customer demands are causing business to re-invent their marketing process.

If you are planning on doing the same thing next year as this year and expecting different results, then you are on your way to extinction.

Person to person contact is still a viable method of transacting business, but even then the approach has to be changed and the benefits of such a transaction have to be communicated.

I can’t think of a more worthwhile endeavor that any business owner can undertake than to take a long hard look at all aspects of the businesses and define those areas that are in need of refining or even reinventing.

What is important is ideas. If you have ideas, you have the main asset you need, and there isn’t any limit to what you can do with your business and your life.                             Harvey Firestone

Nick J. Petra CFP     www.strategicduck.com        let us help you through the reinventing process

Make it a Successful Today!

 

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