When is the best time to do business?
The answer - when everyone else is hiding!
Like now!
When everyone else is pulling their heads back down, stick your head up and out. Get yourself noticed - big time. Rise above that cringing pack of frightened business owners and tell the world, and especially your customers, that YOU, at least, are still there for them!
It’s obvious really – as businesses start to hide, so the marketing clatter fades, leaving more space for your messages to be heard more easily. And, in all probability, regardless of trading conditions, your clients, customers and patients will still continue wanting, and needing, the goods and services you have on offer.
Okay, so doing business is always a risk - even in good times. But, unless you are in ‘Securities’ or ‘Financial Services’ of some description, this is no time to suddenly become irrationally conservative. Simply apply standard business criteria as always.
On the ‘plus’ side, see this current ‘crisis’ as a huge opportunity for you to reach out to your ‘audience’ and offer even greater value than ever before, thereby immediately exceeding their expectations and cementing loyal relationships.
But it’s not just about offering greater rewards, better guarantees, discounted prices (heaven forbid), freebies, or whatever – it’s much deeper than that. Your clientele don’t want to talk to your products and services. They’re not only buying your products and services - they are buying YOU.
So, in times good or bad, show your human side. And, especially in difficult economic times like this, make sure you really do understand their economic and personal concerns - relate to them at a personal level. Demonstrate that not only can you provide the solutions they need, but that you can also provide better value because you are still there and able to empathise with their respective predicament.
Remember, it is always, always about THEM, not you. And there are many ways to show them you care – more of which in a future blog.
When everyone else is being ultra-cautious and doing nothing, isn’t this the time to move your business from good to great?
So, get out there, on the ‘front line’, and give it a positive and jolly good go – that way not only will you succeed in the short term, but also you will be well placed to literally ‘take off’ when the economy revives.
Richard C
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October 9th, 2008 at 9:13 am
Hi Richard
Prospects/clients are indeed a bit more cautious before making that buying decision. They are more and more searching for more and more information in regards of the product, service you - among others - can provide.
The best place to be at the moment is to make sure that prospects/clients can find that needed information at your business. Give it out, freely.
Not only is there the chance you will be regarded as THE expert - and everyone wants to buy from the expert, but the ‘old’ rule of reciprocation applies - as a client (large project) told us just recently: because of the amount of proper and non-obligatory information we had given them they could not NOT buy from us
Karin H. (Keep It Simple Sweetheart, specially in business)
December 1st, 2008 at 11:09 am
Hi Richard
Like your blog, and this article in particular resonated with me.
I find it kind of scary the number of people who are running scared, even on a personal/domestic level, and it all has an effect on the economy.
My business (promotional gifts) is finding a large number of business are holding off, but an even GREATER number are coiming out of the woodwork to place new business with us. Swings and roundabouts eh?
December 20th, 2008 at 9:19 am
Hi Richard,
I agree with your points. Its at times like these that you need to raise your profile not hide it away. Also the ‘keeping your head down’ attitude impacts on your staff because they then begin to play safe rather than do innovative things that they might normally do and in times like these you need innovators. None of us can say if we will survive the recession in one peice
but we need to play ‘all out’ and meet the challenge head on.
December 24th, 2009 at 10:21 am
Hi Richard,
I agree with you. Staring a business is always a risk in good time as well as in bad time.
We taken a risk and started our business in bad time i.e. in this recession period. In this period we stressed more on our skills and clients from our network. We got a good success and now decided to go outside teh network we have.
So as a newcomer, I just would like to know is there any specific time frame only when the business development can happen in different countries? What is good time to be in US for business development?
Your inputs will help us to decide the direction.
Thanks and Regards,
Mahesh