How To Make Money And Run A Successful Business In 2006!
Business used to think that all they had to do was run a nice
clean predictable business and their loyal customers would keep
coming. Work a little harder, maybe get a new item or run a sale
and you made a little more money. Look at brands like Zenith,
Sony, Woolworths, Kodak, Bell, Corel Draw, Palm, Microsoft and
Google. The ones that have remained successful haven't rested on
their laurels. They continue to invest in training, new
products, new research and development and have paid close
attention to trends in technology and customer preferences. The
ones that did nothing but open their shops are either gone or in
big trouble.
So far it sounds interesting but you're saying you don't run a
huge corporation and don't have an Research and Development
Department. These practices apply to every business profession.
I own a medium sized printing and promotional product company,
solutions Ink in Montreal, Canada whose sales have more than
doubled each of the last three years. During this time my
competitors businesses have diminished. Usually I find my
competition trying to sell the same products and waiting for the
phone to ring for an order. Here they are in a profession that
deals with promotion and marketing on a daily basis and these
people seem clueless. I made it a point to join industry
associations and frequent trade shows on a regular basis in
places outside of my own city.
Sure it costs money to join these associations and sure it costs
money to attend the shows, never mind the lost hours while your
gone but not doing it will cost you a lot more. These
associations are at the front of the industry, researching new
trends, new technologies and new ways of doing business. At the
start of the dot com age I met a company that was a pioneer in
the online ordering systems for printing. I was the first one in
Canada to offer this service. I did it because it made sense for
larger customers to order this way. They could save time and
hidden procurement costs for their companies. It was an easy
sell to my customers and being an early adopter gave me reason
to solicit potential new customers with great success. Once
these customers became users these customers became very loyal.
The same is true for the promotional product side of the
business. Having an online store, www.solutionsink4u.com with
over 600,000 items on it gave me an advantage over the
traditional sales person who came in with the same 4 catalogues.
If customers were willing to invest in a promotion of their
company chances were that they wanted to stand out and not have
the same product as every one else.
Going to larger trade shows outside of my home town gave me
opportunity to see new products and learn how other people sold
them. At most trade shows they have educational seminars. Many
people pass on them, but the smart, successful people are
usually there. You are never to old to learn something new and
from a business perspective, those that are unwilling to change
usually perish. Successful businesses continue to evolve. A by
product of these trade shows has been meeting many new
suppliers. You might not need them right now, but one day this
connection will pay great dividends. My main lines today are
very different from my main lines 5 years ago. My sales have
increased dramatically together with better profit margins.
Don't be in the "me too" business, try to find your niche early
and become an expert in it. Once this becomes comfortable search
out the next new line or product.
In summary an eduction from school is great and I have a masters
degree. The true education that will be beneficial to your
successful business comes many years removed from your college
days and many miles from your former campuses. If you ned any
help or suggestions on what to do for your business drop me an
email at steve@solutionsink4u.com. I would be happy to help.
Steven Schneidman http://www.solutionsink4u.com
steve@solutionsink4u.com
About the author:
NoneSteven Schneidman has a B.A. in Psychology and an MBA, was a
professor in finance at a Montreal University, worked for the
secong largest bank in Canada and has and does own 2 printing
and promotional product companies. He does work with many
Fortune 500 companies as well as a slew of smaller companies all
over Canada and the United States.