The End is Near!
No, not the end of the world, silly . . . I’m talking about the end of the recession. Recently, I wrote about “Business Looking up in 2011” which was based on a survey of over 5,000 businesspeople and entrepreneurs at www.BNIBusinessIndex.com. The survey was a global survey that was taken by people from every populated continent in the world.
The survey found that almost 68% of the respondents say that business is growing or growing dramatically compared to this time a year ago. What the survey doesn’t explain is why those businesses are growing.
I have a few thoughts, based on my observations recently, which may shed some light on this and also provide insight into how you can grow your business:
- Innovation in adversity is a key factor. I know a commercial real estate broker in Southern California who said that he had his best year ever in 2010 (and he’s been in business for 26 years). He cited the fact that he did dozens and dozens of one-to-ones during the year to find ways to work together with other businesses. His opening approach was to help them. However, at the same time, it built his business in the process. This is counter-intuitive to most commercial real estate people he told me.
- It all starts with attitude. A product sales company in the UK was about to do layoffs to meet payroll. One of the sales reps wrote on the whiteboard – “we refuse to participate in the recession.” Everyone in the office signed it. They ended up with their best month all year and no one was laid off!
- Look for new or emerging opportunities. I met a residential Real Estate agent on the East Coast of the U.S. who told me he had his best year ever last year. He said he went to investors he’s worked with in the past and told them that “real estate is on sale!” He said to them, “don’t be one of those people who come to me in a few years and say… “I was crazy not to look at these opportunities. I should have bought back in 2010!” He told me this strategy has helped him sell more than any year in recent memory.
- Be creative with your offers. I recently met a business coach in the mid-west of the U.S. who created a guarantee for his coaching. He said, if you follow my weekly coaching program and you don’t raise your income to at least six figures, I’ll continue to coach you for free until you do. He said it has dramatically increased his sales and has not had to provide any clients with free coaching yet.
If you have any insights / observations about the current upward slope of business or outside-the-box tips on how to boost business despite a challenging economy, please leave a comment and share your thoughts.
4 thoughts on “The End is Near!”
I think that the situation is the same in the UK… but it would be great to have some kind of survey done here too.
Ant, the UK was well-represented in the survey.
You may be interested to know that I recently played with the word ‘Recession’ and came up with something similar to this. (Amended a little to ensure it doesn’t ‘hijack’ your message / blog!) 😉
“R E C E S S I O N – Just a word?”
R eview your business plan – often!
E radicate waste and think profit.
C an-do mentality is always best. If you “can’t”, your competitors “will!”
E nsure productivity by working smarter, not longer.
S hare your expertise and help. You will be remembered for your giving.
S ocial Media? Learn from others and develop your skills.
I nvestigate joint ventures / alliances. Don’t think you can always do things alone.
O utsource if viable and concentrate on your core business.
N etwork with your business strategy in mind and gain new opportunities.
It all starts with attitude – that says it all. All the planning, restructuring and effort is of ni use if your attitude is not right. Great post!