A Successful Growth And Development Plan You Can All Learn From… And Do!
Here we are, deeply entrenched in the most severe recession we have ever experienced. That’s a fact, it’s undeniable. Revenues are down and overhead is up. Debt is choking the lifeblood out of your business. Businesses are closing everywhere.
What a terrific time to plan and implement a growth plan.
Look around… some of your competitors have gone out of business. Most, if not all, of those remaining are responding in the same knee-jerk manner they’ve used in the past when revenues dip—they reduce advertising and marketing. The market is down, they observe. People aren’t buying, they think, so they advertise less, telling themselves this will save money. Since the market is soft it will not work anyway so why waste the cash? Their plan is to “wait it out” and when everything returns to normal, resume their regular marketing.
What a classic mistake.
I recently spoke to a small business owner who operates a general printing company. He bought the company a few years ago just as the recession began. Revenues were $450,000 when he acquired it. Despite the recession, he correctly figured he could gain a larger share of the market by reinventing his mission and aggressively advertising and marketing his services, taking business away from his competitors who were hiding out.
He created an expansive strategy, marketing his capabilities to increase businesses revenue through direct mail campaigns and by utilizing other printed marketing tools. He stopped selling printing and began selling the promise of success, revenue, and additional profit to business owners all over his region. He invested significantly in printing, mailing and promoting his new direction and it paid off. The business came to him. He drove his revenue up to over one million dollars in two years and made a profit the entire time. He grew his business in a down market by taking business away from his competitors, aggressively reinventing his business and marketing his message successfully. His investment paid off.
Follow the leader, it works. Learn and act. Indecision, inaction and doubt kills the warrior.
Downsize, reinvent yourself, do your debt workouts and promote your new business. This is the path to take. Call us for help. We will gladly show you the way. Call 413-584-2581 and Norm will arrange a no-obligation teleconference for us to discuss your options.