Success Secret #1
They acknowledged that there were still a huge amount of money still on their markets, and you have to do the same in your marketplace. Right now, no matter how bad your company is struggling, or what level you’re at, there are millions and billions of dollars flowing right in your market.
Success Secret #2
They made decisions on facts, not news headlines. In order to make money in this economy, you have to make decisions based on facts from the information you’re gathering, from what customers are buying, from what’s actually going on in your marketplace, not evening news headlines and newspaper headlines or things like that.
Success Secret #3
They were able to seize the opportunities that recessions create. For example, if you know that people are having a tougher time getting approved for credit through traditional lenders, maybe its time to look for non-traditional lenders to offer financing in your business. Maybe it’s time to look at different delivery options, customization options, maybe it’s time to embrace all of those things because every recession, every economic downturn, creates an opportunity.
Success Secret #4
Those successful companies were able to embrace change rather than go out of business because they wouldn’t change. There’s just no way around it: you have to embrace that it’s a quickly changing marketplace and you’re going to have to embrace that marketing plans, marketing strategies, will have to be reviewed on a weekly, sometimes daily basis, just to make sure that everything is going as it should be. You can’t make the marketing plan now for the entire year and never revisit it until the annual reunion. No, there are some things that companies are doing when times are tough and things that companies are doing right now that are making them successful and launching them past all their struggling competitors.
What’s the one thing that will determine whether or not your business succeeds or fails? See, a lot of business owners will tell me things like, quality product, or customer focus, or manufacturing support or competitive pricing. Now, all those things are important, but which one of those things has the biggest impact on determining whether or not your business succeeds or fails? See, most businesses only focus on minimal advertising, at best. They’ll run a couple of ads here and there, or they will only focus on hiring a lot of salespeople and just pounding the pavement.
Ultimately, it comes down to one thing that will determine whether or not your business succeeds or fails. It is your ability to consistently get your product or service into the hands of people who are willing, ready and able to pay you. That is the number one determinant of your business success. In other words, I am talking about marketing. See, if you chose any of those other things you might have some short term success, but you’ll never be able to weather the storms of business. Your ability to consistently get your product or services in the hands of people who are willing, ready and able to pay you is the number one determinant of your business success. That’s why companies can put out crappy products that are just terrible and don’t really solve anything, don’t really deliver what they promise, but they can make millions and billions a year. Now, they may not be to stay in business forever, and obviously you want to have a great product and services you’re proud of, but the point is that horribly run companies with crappy products can become successful because they are able to get in front of people who are willing, ready and able to pay you.
