Smart Ideas for Business Growth

Turning New Business into Great Business!!

4 July 2013

The bad news first:

There are, we understand, more new businesses out there than ever before!

Since we have had the internet and more recently social-media, your competition gets increasingly tough. There is still the concept of buying locally but of course many of us use the web to purchase what we want at the cheapest price.

New business has to “run harder” to get noticed. More mature business will already have a known brand and a presence which to some extent may compensate. Mature business will also have “word of mouth” marketing – a key tool which is not available to younger business to the same degree.

 

New business needs to learn from – but not exactly copy mature business.

 

So – it all seems really bad news!

 

….there is however something to perhaps cheer us up!

 

The good news:

Despite the amount of competition that exists and what is termed the “noise” that appears to hinder you from getting heard, the good news is that much of your competition will not be marketing themselves as well as they could do.

That is a provable fact from many studies that have been done!

Your competition is generally either unaware of current marketing techniques, or is aware and not doing anything about these.

 

Essentially, you will need to find ways of differentiating your business from your competition and turning yourself into a truly customer-focused business.

If you do this then you will be taking some steps to being a “great business”.

In fact I cannot see much of a future for a new business unless it tries to become “great”. This is not just a slogan – it is a necessary requirement to help it survive.

 

I will return to these issues next week.

 

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