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Tuesday, October 4, 2011

Are we 'Too Focused' on the Bad Economy?

There is no doubt that if you have watched the news, chatted with friends and talked with fellow business owners, the economy is certainly a heated topic.  The fact is we are seeing higher rates of unemployment, forclosures, and businesses going under.  Everyone has an opinion as to what is the cause of thie 'Bad Economy' and what might be the solution.  The truth is, no really knows.  In fact, even the smartest and most influential minds in our country can't seem to come to an agreement to fix our current economic situation.  Is this maily due to political issues? That's beyond the scope of this article.  Despite the variety of opinions you may have or have read, you need to take a hard look at your business. Don't soley focus on this economic situation and "Ask yourself" the following questions:
  1. Is my business still meeting the needs/demands of my clientele?
  2. If yes, can I continue to improve?
  3. If no, how have the needs of my clients changed?
  4. What services/products can I add to my business to generate additional revenue?
As business owners, we need to be able to filter out the negative information related to the bad economy and our own businesses.  Don't be so quick to blame the economy as the reason your business is declining.  As you read this article right now, businesses are making money and you can be making money too!!  Take the time to evaluate your current business.  Be sure that you are meeting the current and future needs of your clientele base.  Seek out additional opportunities to add revenue streams to your business.  And never stop looking for new and creative ideas to build clientele and your business profit margin.

Remember, don't focus on the economy, focus on you and your growing business!

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