Mar 10 2009
Why Do Some Business Thrive and Other’s Struggle?
I came very close to canceling my subscription to the newspaper this past week. Too many stories of fear and failure and not enough about people who are doing well. Not sure what makes the public enjoy reading all those hard luck stories but people do seem to be attracted to it. Maybe people keep their own fears shoved down somewhere and so reading about someone else losing their job or becoming homeless makes them feel relieved that it’s not them. I don’t know, but it isn’t inspiring that’s for sure. My favorite part of the paper is Stone Soup and the crossword puzzle and I am not willing to give up either of those yet!
The truth is that some business owners are doing very well these days. What makes one business do well and another go belly up? There can be many reasons but here are a few thoughts on this mysterious question.
1. Some businesses get attached to their products or services and keep trying to figure out how to sell them even when it seems apparent that people don’t want them. They may be really good and amazing but that doesn’t mean people will reach their hand into their wallet and buy. The key is to have a variety of wares and not put all your eggs in one basket. Be willing to change your offering and/or add embellishments to attract more attention.
2. Investing in your own business will keep it fresh and alive. I read an article recently about a woman who owns a little bookshop and made herself distinctive by having live music on Saturday nights. As soon as her sales began to drop she cut out the Saturday night music. This was a mistake because it was one thing that was working. Constricting and cutting too much can cut the heart out of your business. Investing in getting help, re-freshing and taking risks in your own behalf is one thing that can make your business do well even in so called hard times.
3. Strengthen the weakest part of your business. It could be that you are focusing all your attention on the areas you feel comfortable with and you are ignoring the areas you don’t enjoy. A web builder I worked with recently was spending all of her time on learning new skills and polishing her technical expertise. Her office was a mess, however, and her invoices were scattered. Once she tidied her office and put in organizational systems that she could follow, her whole business began to pick up and she got so busy she had to hire an assistant.
Those are a few of my ideas. All good businesses have strong vision and goals but it also is important to know how to overcome obstacles. Maybe you have some of your own ideas that you could share.
I’m so glad you are feeling the same way about the news. There’s too much doom and gloom and I don’t know how that can make anyone feel better. I’ve been focused on reading more positive blogs (like yours) and alternative news such as certain stories on NPR or Mother Jones. It helps me keep everything in perspective, thanks for addressing this issue Kaya!
Some businesses have no alternative BUT to succeed. They must work because they do not want to be employees. These businesses look to fill a niche, answer a need that most – if not all- of the competition has ignored. By concentrating on what the customer needs and wants, business follows.The most difficult part of the process is getting the word out.
As to why the mainstream news reports so much bad news? Who knows? In the past that approach has sold papers. My guess is that people like to stop and stare at traffic accidents for much the same reason that they read about others troubles- they think “there but for the grace of G-d, go I”.