Thriving In Turmoil

Thriving In Turmoil

The majority of businesses this year will decline in sales and in profits just as they did last year. And even worse nine out of ten people will come up with some excuse, in most cases a totally lame one, about why their business sales and profits are down.

What are the most common excuses?

• It's the economy

   

• Fewer People are buying

   

• I've tried everything and nothing I do seems to make a difference

   

SORRY! But we don’t buy it.

If the above was true, then why did some businesses, apart from the receivers and bankruptcy lawyers, grow last year and why are they continuing to grow steadily even now in 2009?

Yes, the economy is in a slump and on average sales are down and most people, 9 out of 10, just keep doing the same things over and over. They keep managing their business the same way they would in more prosperous times and guess what - it doesn't work.

Only one out of ten people, and we’re hoping you are one of them, has the smarts to know that if their business isn't growing and if sales are shrinking, that they need to change the way they manage their business. For these people, the people who seek out and find the profit-building strategies that work in any economy, success is almost guaranteed.

Not everyone's business is slowing in this economy, many grew their profits by 50 to 100 percent or more last year, and you can do the same.

Some people like to run around like Chicken Little waiting for the sky to fall, others seek out answers.

Which type of person are you?

If you're a solution seeker instead of an excuse maker here's two simple steps to keep your business on track and make this year your most profitable:

1. Stay Confident! The biggest mistake you can make is to lose confidence in your products and your services. You've lost the race before the start.

Like an animal smells fear, your customers will notice your hesitancy and they'll buy from a competitor who appears confident of success. They'll steer clear of you and you'll lose even more business.

2. Focus On Your Valuable Formula! Obviously you're doing business in a very different economic climate than you were a few years or even a few months ago. The strategies that may have helped you stay afloat in the past could easily sink your business this year.

To succeed in this economy, your small business needs to be more focused and specialised. Big companies who sell a bit of everything might close their doors, but we see this happening to small businesses as well. Small companies that try to provide too many products or services are struggling. And for good reason; prospects can't figure out what they excel at. On the other hand, businesses that target a specific service or product are holding their own. We’re hearing that business is steady and, in some cases, growing. Online, many niche services and products are growing too, including online bookkeeping, online virtual assistants and niche information products. If you're just looking for a magic pill to grow your business - look elsewhere.

We invite you to register for this recession busting seminar and let's get going.

Download the DLRC_Invitation here.

This is a joint initiative from Dun Laoghaire Rathdown Chamber and Focus Business Advisers