Is Your Business In The Comfort Zone?
0 views
Skip to first unread message
Naz Daud
Mar 23, 2013, 8:10:03 PM3/23/13
to publish-the...@googlegroups.com
*****************************************************************
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Naz Daud
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=139521
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=139521
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Is Your Business In The Comfort Zone?
Author: Naz Daud
Word Count: 654
Article URL: http://www.isnare.com/?aid=139521&ca=Business
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=139521
Easy Publish Tool: http://www.isnare.com/html.php?aid=139521
*********************** ARTICLE START ***********************
I have an acquaintance who supplies products to the small business retail trade. He decided a few years ago that he was happy with the level of business he had. He stopped all forms of new marketing and focused on just keeping his existing customers happy.
He was now comfortable and business was good. What he failed to realise was whilst he was not seeking new customers, more and more supermarkets were opening in the area. They were taking business left, right and centre from the small retail trade.
Yes, you guessed it. Whilst still maintaining his existing customer base, his sales to each of them started dwindling. He realised his mistake far too late when a few businesses actually shut up shop or closed down due to lack of profitability.
A one / two person business can stay in the comfort zone for a lot longer than a business which employs 15 � 20 people.
In business usually / around 80% of your turnover pays the bills whilst the last 20% makes your profit. Therefore if a profitable business loses only 10% of their turnover and all of a sudden the prices you can charge customers become more competitive � the business is no longer making money.
So what can you do to avoid the above scenario?
First of all you have to realise / except that you are in the comfort zone.
Create a plan of attack to generate more sales.
Evaluate the marketplace you are in and don�t be scared to drop lines that are no longer profitable.
Look at new products to rejuvenate the existing product range.
Examine your methods of working � what worked 5 years ago might not work as well today.
Is it possible to do anything faster, easier or cheaper with modern technology and new ways of working?
Have a fresh look at your work force.
Consider training so that you have a skilled work force ready for the challenges of today.
Have your property surveyed and examine the possibility of relocating.
Has your customer base moved whilst you have been in a state of denial?
Can you use the space more efficiently? Is your property and land worth more for building on than actually running the business?
Have a fresh look at your opening hours. Would you fare better opening 1 hour earlier? What time do you generate most business?
Are you like most businesses that trade Mon � Friday? Do you open 9am � 5.30pm? Would it be more profitable for you and easier for your staff if you opened at 8am and closed at 4.30pm? What about closing 1 day mid week and staying open all day Saturday?
How do you transport your goods?
Is it more efficient to still run vans on the road when couriers and distributions companies are now so efficient? Vice versa � would you save money or provide a better service by delivering your own goods?
Create a business plan for the next 1, 3 & 5 years.
Have your business valued.
Remember to use baby steps. Tackle 1 problem at a time or get an outside company which specialises in looking at businesses from top to bottom. Sometimes a fresh pair of eyes can often spot what you fail to.
In business there is no such thing as a comfort zone for most types of small companies. Either you are moving forwards or eventually you will start to move back. The world is forever changing and those who adapt quickly will succeed whilst those who fail to adapt will disappear. If you don�t believe me than have a look at the top 100 companies in the stock market 20 years ago and see which ones are still in the top 100 today.
About The Author: Naz Daud http://www.citylocal.co.uk http://www.citylocal.co.uk/frontend/franchiseinfo.php?cityid=79 http://www.citylocal.ie http://www.ecademy.com/account.php?id=120141
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=139521
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Naz Daud
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=139521
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=139521
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Is Your Business In The Comfort Zone?
Author: Naz Daud
Word Count: 654
Article URL: http://www.isnare.com/?aid=139521&ca=Business
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=139521
Easy Publish Tool: http://www.isnare.com/html.php?aid=139521
*********************** ARTICLE START ***********************
I have an acquaintance who supplies products to the small business retail trade. He decided a few years ago that he was happy with the level of business he had. He stopped all forms of new marketing and focused on just keeping his existing customers happy.
He was now comfortable and business was good. What he failed to realise was whilst he was not seeking new customers, more and more supermarkets were opening in the area. They were taking business left, right and centre from the small retail trade.
Yes, you guessed it. Whilst still maintaining his existing customer base, his sales to each of them started dwindling. He realised his mistake far too late when a few businesses actually shut up shop or closed down due to lack of profitability.
A one / two person business can stay in the comfort zone for a lot longer than a business which employs 15 � 20 people.
In business usually / around 80% of your turnover pays the bills whilst the last 20% makes your profit. Therefore if a profitable business loses only 10% of their turnover and all of a sudden the prices you can charge customers become more competitive � the business is no longer making money.
So what can you do to avoid the above scenario?
First of all you have to realise / except that you are in the comfort zone.
Create a plan of attack to generate more sales.
Evaluate the marketplace you are in and don�t be scared to drop lines that are no longer profitable.
Look at new products to rejuvenate the existing product range.
Examine your methods of working � what worked 5 years ago might not work as well today.
Is it possible to do anything faster, easier or cheaper with modern technology and new ways of working?
Have a fresh look at your work force.
Consider training so that you have a skilled work force ready for the challenges of today.
Have your property surveyed and examine the possibility of relocating.
Has your customer base moved whilst you have been in a state of denial?
Can you use the space more efficiently? Is your property and land worth more for building on than actually running the business?
Have a fresh look at your opening hours. Would you fare better opening 1 hour earlier? What time do you generate most business?
Are you like most businesses that trade Mon � Friday? Do you open 9am � 5.30pm? Would it be more profitable for you and easier for your staff if you opened at 8am and closed at 4.30pm? What about closing 1 day mid week and staying open all day Saturday?
How do you transport your goods?
Is it more efficient to still run vans on the road when couriers and distributions companies are now so efficient? Vice versa � would you save money or provide a better service by delivering your own goods?
Create a business plan for the next 1, 3 & 5 years.
Have your business valued.
Remember to use baby steps. Tackle 1 problem at a time or get an outside company which specialises in looking at businesses from top to bottom. Sometimes a fresh pair of eyes can often spot what you fail to.
In business there is no such thing as a comfort zone for most types of small companies. Either you are moving forwards or eventually you will start to move back. The world is forever changing and those who adapt quickly will succeed whilst those who fail to adapt will disappear. If you don�t believe me than have a look at the top 100 companies in the stock market 20 years ago and see which ones are still in the top 100 today.
About The Author: Naz Daud http://www.citylocal.co.uk http://www.citylocal.co.uk/frontend/franchiseinfo.php?cityid=79 http://www.citylocal.ie http://www.ecademy.com/account.php?id=120141
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=139521
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Reply all
Reply to author
Forward
0 new messages