Make More Money by Offering Less?
Make More Money by Offering Less?
Sure, there are plenty of ways to simply survive when your dollar no longer goes as far as it used to. You can cut out your morning coffee, say goodbye to dinners at restaurants and hunt down the best gas price deals in a 20-mile radius.
But, of all of the ways to "survive" a recession, there are none that allow you to live comfortably and without worry. Just surviving isn't enough, you want to get ahead and stay ahead.
Lately, I've been looking around at many businesses that owners believe are recession-proof. Some offer consulting to a specialized group and others offer products you probably won't find at your local Wal-Mart. Of all the ideas I've found, there is certainly a common theme.
Rising above money worries and succeeding today takes a very specialized business plan. You can't try to sell to everyone under the sun, because, as people tighten their wallets, they are suspicious of businesses that claim they can do everything.
When I need my car repaired, I go to a very specific specialist. That's because I want someone who knows exactly what they are doing. Sure, this may cost a little more, but I know that the work is being done properly and this can help me save time and money down the road.
The same goes for many consumers. People don't just want cheap; because they know they may not be able to replace these cheap items if they break down in a month.
People demand quality and specialization when money becomes tighter. This means that it is time to cut the fat and find a specific niche to tailor your business to. Don't worry about the few customers you may lose; they were the ones who weren't going to come back again anyway. Focus instead on a relationship with long-term customers and build your business around their exact needs.
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