| Most new business owners expect to devote a lot | | | | moreprospects and generate more sales by using a |
| of time andeffort to getting their business | | | | variety ofmarketing methods instead of just one or |
| established. Then, theyplan to relax as the business | | | | two. But it alsoprotects you from suddenly losing a |
| "runs itself" and continues togrow. This was an | | | | substantial volume ofbusiness because one of your |
| achievable goal in the past. It isn'ttoday. Aggressive, | | | | marketing methods stoppedproducing results. |
| innovative competitors and rapidlychanging | | | | TIP: Keep looking for and testing new marketing |
| technology make it impossible to establish a | | | | tools andold ones you haven't tried yet. |
| systemtoday that will automatically meet all future | | | | #2. LOOK FOR OPPORTUNITY HIDDEN IN CHANGE |
| challenges. | | | | The challenge of change often forces you do |
| EXPECT CHANGE | | | | discover ahidden opportunity you can exploit to gain |
| Develop a "change is normal" attitude. Realize you're | | | | more business. Irecently spoke with the owner of a |
| nevergoing to reach the point where you know your | | | | sporting goods store neara fast growing city in the |
| business sowell you can stop learning. Just when you | | | | Southeast. 2 years ago a largeretail chain started |
| think you'vemastered the operation of your business | | | | building a new superstore nearby. Thestore included a |
| something willchange and disrupt your growth. | | | | large sporting goods department. Jeffwasn't going to |
| Make it a habit to look for changes that may be a | | | | be able to compete with their prices andstay in |
| developingtrend. Then try to determine how this | | | | business. |
| trend may impact thegrowth of your business. You | | | | Instead he set up a used sporting equipment section |
| can develop the best solutionto a problem when you | | | | in hisstore and started advertising to buy and sell |
| catch it early and take your time tocarefully work | | | | usedequipment. Today most of Jeff's income is |
| out your response. There's nothing moredifficult than | | | | generated by salesof used equipment. His total |
| trying to make good long term businessdecisions at | | | | income has almost doubled andhe's even planning to |
| the same time you're trying to rescue rapidlyfalling | | | | expand his used equipment business tothe Internet. |
| sales. | | | | It's an opportunity Jeff wouldn't haverecognized |
| #1. TAKE DEFENSIVE ACTION IN ADVANCE -- | | | | without the challenge of competition from |
| DIVERSIFY | | | | thatsuperstore. |
| Diversification is your best defense against the | | | | The biggest challenge to business success today is |
| impact ofchange. This applies in 2 major areas: | | | | change. |
| * The products and/or services you offer | | | | Develop the habit of looking for the early signs |
| * Your marketing activities | | | | thatsomething is changing and confront it before |
| The primary reason you want to offer a variety of | | | | you're losingbusiness. Take defensive action against |
| relatedproducts or services to your customers is to | | | | the impact of changeby diversifying the number of |
| maximize yourincome. But there's a second reason. | | | | products and/or services youoffer and using a |
| Changing marketconditions or an aggressive | | | | variety of different marketing methods. |
| competitor can cause sales for aproduct or service | | | | When you decide how to respond to a challenge, |
| to decline, often suddenly. The impactwon't be | | | | look for ahidden opportunity to increase business. |
| devastating if a variety of other products | | | | You may find asource of additional sales and profits |
| andservices continue to produce business for you. | | | | you previouslyoverlooked. |
| The same applies to your marketing. You'll reach | | | | |