Entrepreneurship provides us with a roller coaster ride as the economy and technology change. How you anticipate change, prepare for it, and run with the new model will determine your future success.
Business is obviously much easier to control when the economy is good. But one pitfall of many is to spend too much money on extras or programs of which you do not have enough detail to figure the worth of the expense. So when the economy falls, many have to close their door. It is far better to be prepared at all times, and err on the side of being conservative with money. For the most part, this strategy will keep you on the right path and out of trouble when times are lean.
When it comes to change in technology, it feels as if we have no control and need to scramble to catch up. But, a better strategy to take is when there are whispers in the air of potential change coming along, it is best to leap forward to be one of the first embracing it. Learn all you can about how you can harness the new power, At the same time, consider how you may save what is already in place by adapting the old to the new.
A sound strategy that will revitalize your business is to look back at what was originally put into place. Do you have old products that were produced with old technology such as CD’s? Are they sitting in a closet? Perhaps you can convert them to MP3 files and get them out to iTunes for additional revenue.
Years ago, it was recommended a blog be written on a daily basis. Did you follow that advice? Imagine the amount of content you have written over the years. It would take time, but consider compiling your written work including articles and manuals to be converted into a digital format for sale online. Some of the material may need to be updated, but I bet if you originally shared solid information, most of it still holds true today.
Following this advice will provide you with additional revenue streams, marketing exposure and potential for additional opportunities. Some of the possibilities include interviews and public speaking. Planning ahead, you may wish to invest in a public speaking course. All together, your reach will be far wider than previously thought possible.
Do you have original inspiring or motivating tweets and postings to your name? Consider creating a coaching program from these, or developing a video training library. Likewise, any questions your clientele has asked of you over the term of your business, the answers may be incorporated into your new coaching program, too. It’s information that is apparently very much in need.
As you begin converting your older material to the newer technology, your audience will be impressed. Your marketing effort will have a far reaching effect enabling you to attract additional audiences to your business.
How do I know this works? Remembering back, many people predicted my business demise upon my sharing that I was about to devote time to learning all about social media when it was first announced. My forward thinking proved to be fortuitous.
As you complete your projects step by step, peers and associates will be impressed by all you are accomplishing and will look to you for leading the way. Thus your personal brand will become stronger than ever. In the end, rather than re-acting and playing catch-up in newer times, the proactive stance will lead you to increased sales, and more importantly, to the Smooth Sale!
Elinor Stutz, CEO of Smooth Sale, (800) 704-1499; authored “INSPIRED Business A New View for Building Business and Communities”; “Nice Girls DO Get the Sale: Relationship Building That Gets Results”, and“HIRED! How to Use Sales Techniques to Sell Yourself On Interviews”.