We have to make lots of decisions in business and it’s always great to ensure we are heading in a sustinable and profitable direction (Thank you Fallout for the image use of Vault Boy!)
Hello Awesome People!
When it comes to Marketing & Running a Small Business, we at times can be overloaded with potential decisions as to where to grow our business & direct our efforts.
I was very lucky to meet with a great client and long-term friend recently and we spoke at length about his business and the new directions he is going in. He is a very successful business owner (whose business has doubled since I have known & worked with him over the years) and he is facing some key choices in his business.
Basically certain areas he is in are becoming more competitive & harder to make a decent profit – with new areas emerging where he can get massive jobs with a very high margin. It doesn’t take a scholar to figure out what to do next, i.e. “Move on from the Low-Margin areas and focus on the new High-Margin & Chase the Money!”
He is a very savvy business owner and we came to this consensus in almost no time at all. This quite impressed me and I know plenty of awesome business owners that probably need to refocus their business on more profitable areas.
The truth that I was reminded of today was the importance of being agile in what we do as business owners. We can have areas of our business that are profitable one day and in even less than a year, they may not be as profitable as they once were. Be it competition coming in, changing regulations or even the market shifting – business can move incredibly quickly and if we don’t keep up we can be left behind.
My lesson and learnings from this one? Be very sensitive to the shifts in the market and always be thinking about the direction you are headed in. Besides it being what you like / where you want to take things, it’s really important to ensure that it’s also “Profitable” as well. Can you make great money in the direction / areas you want to take your business? Is it sustainable? Will you like it? What will it take to do it?
You get the drift – keep an ear out and an eye open so you can stay ahead of the curve. Wise business decisions are made with great information, careful considertion and planned thought.
Love your work, thank you for the read and keep up the fine work!
About the Author:
Edward Zia is a Marketing Mentor & Commentator who loves helping Awesome Business Owners kick butt in their Sales & Marketing!
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Love your work, and thank You for the read, enjoy the thoughts, Edward Zia sign out – Stay Awesome!!
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