Creating Positive Change for 2010.

With the New Year just around the corner, many small business owners are hoping for a better year both professionally and personally. Generally when things improve on the business front that leads into a less stressful situation on the personal front, so it is very important to make sure that your business is in a position to achieve the best possible outcome that it can for the next year (and thereafter). Many things can be done to improve your business but it will require you to step outside your role of “Doer” and into your role as “Thinker and Planner”. To be able to step into this new role on a regular basis is vital for you to be able to keep developing your business and making changes quickly in response to the changing market. It is of no use to you to keep on doing the same old, same old as this type of thinking will deliver even poorer results to you over the next 12 months than you have experienced over the past 12 months.
Now is the time to sit down and really think about what you can do to improve your business so that you are meeting the needs of your market. You will need to be innovative and in some cases even ruthless but nothing changes or improves until you decide to drive it in that direction. Your future success is very much up to you so it’s time to stop procrastinating about the things that need to be done and to get stuck in and DO IT!

Live life abundantly
Pam

The Evils of Discounting

Inexperienced marketers often succumb to the habit of discounting their products and services to try to entice new people into their businesses. This is a recipe for disaster in the long run, especially for small businesses who generally cannot source their products or provide their services at a cheaper rate. Often the types of clients who are attracted to your business because of discounts are not "long termers" and will constantly shop around for the next bargain elsewhere. This generally defeats the purpose of discounting which is often used to attract new clients. The other problem with discounting is that it reduces the value of an item or service in the eyes of your existing customers and instead of purchasing on a regular basis, they will often hold out until the next discount is offered. This is very bad for your business and your cash flow.
So next time you are tempted to discount a service or product, try "value adding" instead by teaming up your product or service with a complimentary item that will introduce your client to something they may not have tried before.
If you would like to gather more tips and hints about business building, visit my website at www.pamstellema.com.au.

Live life abundantly
Pam