However, the current economic climate is generating a lot of opportunity for SMEs and for entrepreneurs but you have to be willing to seize the opportunity. Are you really a risk taker? Are you willing to change your business to set it up for success? Or are you happy with the current state of the business? Below are a number of scenarios which will help you identify your attitude to risk and whether this is holding you back.
1. Fresh Insight – You are presented with fresh insight into your business from an objective third party. They make a suggestion which could improve your profits and may require some minor changes – do you embrace the suggestion or reject it and provide a rationale that does not relate to profits?
2. Feedback – You post your new website on LinkedIn asking for objective feedback on your design, functionality and content. When you receive feedback that is polite but critical – do you embrace this feedback, thank the contributor and action the improvements or do ignore it and justify the current version?
3. YouTube – None of your competitors are on YouTube – you know from research that it is an inexpensive way of marketing your business and its products and services. Do you throw yourself into it wholeheartedly or do put it on your ‘to do’ list but never actually action it?
4. ‘Do it yourself’ Marketing – You’ve worked in a commercial environment and seen first-hand the effectiveness of a coherent marketing plan when well executed. Now you’ve set up your own business do you recognise that you need a dedicated marketing specialist to help your business grow? Or do you embark on a ’programme’ of ‘do it yourself’ marketing? Are you hoping that your ad hoc efforts will achieve marketing and business success?
5. No Growth – You are in the fortunate position that you’ve been in business a number of years but over the last year nothing has really changed. Are you drifting? Do you cling on and hope to survive another year or do you switch things up and make changes to really promote your company and its products or services?
Food for thought? If you would like help kick-starting business growth please give us a call on +44 845 2264 247 or drop us an email via mail@marketingfundamentals.com
We hope you find this information useful.
Kind regards,
Marketing Fundamentals Team
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