Opportunities in Recession

Odd concept? Not according to John DiJulius. During his keynote at the COSE Small Business Conference he shared these 'opportunities' with us:

1. New revenue streams

2. Fish when the fish are biting

3. Experience wars vs Price wars

4. Less competition now

5. Back to the basics

The way I read these he is saying that you now have the opportunity to consider other revenue streams, different target markets, and innovation. With point 2 he is reminding us to pay attention to where our prospects are and when they are buying and with point 3 he is telling us to focus on the experience we provide to our clients. Create value and price will not be the top issue.

That there is less competition now is not a question. It is an opportunity to gain market share. However, that alone will not propel your business to the top of the totem pole. You still have to provide value and service. You still have to have a worthy product or service. THIS is where we get back to basics. Remember the rules of sales and the guiding principles that help companies succeed.

These principles are integrity, value, customer service, and giving back. Provide a quality product or service at a fair price on a consistent basis with the customer's needs in mind and you will find your company succeeding in this, or any, economy.

No comments: