One business owner mentioned how he had a solid system of tracking his sales, and it wasn’t hard for him to see when traditional advertising was no longer working in his field. When he first started business, most of his work came from traditional means, but because he was watching his numbers, he knew almost immediately when the shift happened. He even pushed it as far as to put out a traditional ad that said he would pay people money just for making a phone call to him. No one called. From keeping tabs on his field, and what was working, he was able to make the shift to what currently worked without a lot of headache. He was also able to stay in business when the recession hit and a lot of his competitors went out of business.
Another business owner admitted that he hadn’t been keeping up with the trends very well. He had a lot of work and focused all his energy on meeting those demands and didn’t take time to study what was happening outside of his little sphere of work. He said that when he did look at the changes that were happening, he realized that he was really far behind in the industry, and if he didn’t put a lot of focus on the changes and learn about what they were going to mean to him and his industry, he was going to be left in the dust.
He laughed with this realization because he knew that it was going to require a lot more catch up time and that in the long run if he didn’t put in the more intensified work, plus keep his current clients happy, he would be risking going out of business.
If you are just starting up your business, the word to the wise from many seasoned entrepreneurs and small business owners is to make sure that you take your time and learn the industry and how it works. Learn what it will take to make you successful before you jump in.
If you are further along in your business, the general counsel is to pay attention to the little details and to the numbers and changes that will have a dramatic impact on the industry. Don’t put your head in the sand thinking that it won’t affect you because it more than likely will.
Staying on top or getting on top in your industry requires consistent steps and attention paid to the industry you’re in, your job performance, and to your numbers.