Found an interesting picture online that illustrates a lot of my clients struggles.
Do you feel like your competition is taking all of the business leaving you with the scraps?
Chances are high that they probably are. But it’s not their fault. That is just the nature of how businesses operate. You are either growing or dieing. With the way customers are finding services (mainly on Google) it is no wonder why the companies that spend the most on their online marketing campaigns are seeing the most growth.
What tools are you using? Are you investing in the future? Sometimes what works too well can be the downfall of a particular business. Many times business owners never diversify outside of what has been working and they get ‘comfortable’. Comfort is a big killer. It won’t be long until your competition wipes you out as they continually grow, have higher buying power, better quality products, and better pricing. In most cases, customers are loyal to the products they buy, not to a particular brand as many would like to think. It only took Lulul—mon’s CEO a few misplaced words to lose a good portion of their customers.
Many business owners try to do everything themselves and wear far too many hats. This is not as productive as say spending 80% of your time and energy doing only what you do best.
Are you building on a solid foundation? A large part of success has to do with the quality of planning and preparation that goes into a venture – any venture. Are you leveraging your marketing efforts and results to get better results in the future? Successful businesses are those that are always taking advantage of every opportunity to grow. Yes, there is good growth and there is bad growth but you can never have too much good growth – especially if what you are doing is helping a lot of people.
Do these photos belong to you? Sue me.