Has your business become at risk of becoming irrelevant?
I am thinking of a store I have shopped at over the years. It used to be a busy place, a good location well stocked with many of the products and services you would come to expect (and a few extras). Over time, I have watched this business become irrelevant by doing the same things in the same ways over and over neglecting the changing needs of the marketplace. They now have a sign up to lease out half the building. The needs of their clients changed, but they did not.
The New Reality
Many businesses expect to grow by doing the same things in the same way, however, the way that consumers buy is changing. Whether you choose to embrace it or not, reality has become:
- Consumer expectations have changed
- Access to information has changed
- How people buy has changed
- How people communicate has changed
While you may be current on products, regaining consumer relevance is very different and can be much more about personal development.
Are you willing to consider the necessary changes to grow your business and attract new customers? Methods that may have worked well for you 15, 10, or even 5 years ago may be working against you now.
You should review your business plan by asking these questions:
- When is the last time you re-evaluated how people buy and update your approach?
- Are you interacting with potential customers in ways THEY are comfortable with?
- Are you willing to learn and implement new things in order to grow your business?
Change creates change. If you are looking for different results, consider updating:
- How you enable customers to buy from you
- How you interact with clients
- The words and phrases you use
- Website, marketing materials, business cards
It isn’t enough to just think about these things, if you want to grow your business or remain relevant, you have to act on it. Click here to see our article on Goals vs Results.
As you go through the process of refreshing and updating, you may discover:
- Renewed energy
- Increased confidence
- An easier time keeping existing clients
- New opportunities
Change can be uncomfortable, requiring you to get out of your comfort zone and grow. You may experience more than a few cringe-worthy moments as you look back on lost sales opportunities as you gain a fresh perspective and understanding of what you could have done differently. (I know this from personal experience)