4 Hidden Secrets Your Competition Prays You’ll Never Find Out About

Even though the global financial system is experiencing the maximum huge downturn in years, that doesn’t mean businesses can’t generate new income and growth earnings. It is widely known that in periods of economic downturn, more innovations are conceived, and greater commercial enterprise owners have made their fortunes than in similar times of monetary balance or prosperity. Gains made using organizations in these difficult instances have regularly resulted from better cost management, new merchandise/services, maintaining satisfied customers, and efficaciously tapping into new business ventures.

Downturns can be a perfect time for groups to experiment with unconventional and innovative methods to enhance sales and benefit marketplace share. Here are “7 Proven Go’s” to ensure your commercial enterprise not only survives but thrives, regardless of the financial downturn:


1. Go Further – Use the Internet to attain further

In 2008, a small Kiwi organization, Flightcell International, approached The Texas Department of Public Safety to deliver satellite-based total communication and tracking systems for their new Eurocopter helicopters. Flightcell’s adaptive position reporting device tracks the plane continuously, improving protection and operational management.

This contract became no longer the first to be landed using Flightcell in America – it was previously known to supply excessive-tech communications kits to assist the plane team with alleviation efforts in typhoon-ravaged New Orleans. The nation asked eighty-five of Flightcell’s kits to help Army reserve helicopter pilots and rescue team communicate to a different plane and those on the floor during the catastrophe comfort attempt. This generation is important because it lets pilots use satellite TV for PC telephones, and cellular telephones palms lose by linking them up to a helmet or headset.

Instead of being restrained to working within a 50-mile radius of its Nelson workplace (wherein it employs the handiest of 4 workforces), Flight Cell is now drawing business from North America, Australia, and overseas markets. This small company’s geographic barriers have disappeared by operating over the Internet. Many other companies have also chosen to add a multilingual element to their websites. The boost in income overseas makes the experience as clients tend to reply extra frequently – and more likely to communicate in their local tongue.

2. Go Untapped – break into underserved markets

One largely neglected market possibility is the “backside of the pyramid.” This period is regularly used to explain the largest and poorest socio-economic groups or the mass market. This big pool of consumers is frequently not noted as a possible/profitable goal marketplace because it is believed to be much more mature than the other segments.

A rags-to-riches Australian store story sincerely illustrates what may be accomplished by bringing economically priced merchandise to the mass marketplace – putting equipment into the hands of tens of millions of DIY users, as opposed to competing alongside a mounted competition for the enterprise of qualified industry tradespeople. Brisbane’s primarily based do-it-yourself auto elements enterprise Super Cheap Auto capitalized on the unmet call for parts inside the DIY market.

No, it employs over 3,500 workers, has over 200 non-franchised stores in Australia and New Zealand, and draws a close income of $500 million. Though based at first in 1974 as a mail-order business, an exponential increase passed below the stewardship of Bob Thorn. In 2004, Thornwaso was presented Australian Entrepreneur of the Year by the National Retail Association. Super Cheabecametoan was indexed on the Australian Stock Exchange in 2004 with a market capitalization of $200 million. It is not an awful commercial enterprise for on thatch began out (and still does) goal of the “bottom of the pyramid.”

3. Go Bigger – Expand without expanding your prices

I was approached by a client who wanted us to assist with the business plan and set up a mission inside the takeaway meals enterprise. The premise for this commercial enterprise becomes fascinating – to offer nutritious, gourmand food to younger experts and families. Her thinking changed into that customers could attend select shops across the town, make their selections for the week, and then take the food home – which had to be warmed (as they had been pre-cooked).

According to the IBIS reviews in Australia, the common consumer spends more on rapid food per week than meat, veggies, and non-alcoholic beverages at the grocery store. This might partly explain why obesity has become such trouble in the United States of America. In light of that information…I think it’s honest to mention that she became directly involved in a fascinating and doubtlessly rewarding concept.

Even though the idea became top-notch – she had never owned a commercial enterprise before, had no meals to enjoy, and struggled to determine where to position the stores and how to manipulate all the workforces remotely. But those were not the handiest challenges she faced... The biggest hassle she confronted became the sheer cost of organizing the shops in key areas wherein the traffic of her center demographics, busy professionals, became high. Landlords inside the CBD of Melbourne had been asking $800-$a thousand/square meter – which translated to the lease of over $2 hundred 000 plussuitoutss.

So we were given creative and suggested the purchaser rent a cellular outlet. For a total value of about $50,000, she ought to buy and retrofit a van and begin cruising the streets at some stage in the lunch hour and the 4:30-6:30 pm commuter rush. This could permit her to be precisely where her customers could be (i.e., E. The train stations, busy avenue corners) and make modifications as necessary. For less cash, she may want to extend her reach, and she wouldn’t be tied to any bricks and mortar established order that did not have the walk via traffic that turned into advertised through the owner. Even if a cellular retail outlet isn’t right for your business, you couldn’t forget a virtual office to extend value efficaciously and professionally into a new marketplace or inter-country.

4. Go Deeper – Become your purchaser’s client

Everyone is aware that appropriate business is all about relationships. Assisting your patron’s commercial enterprise is one of the excellent methods to build, consider,r and toughen the relationship. Granted, you must first get to recognize who your clients are and precisely what they do. Next time you locate your self-desiring cleaner, a copy author, workplace fixtures, printer cartridges, or web development crew, make a concerted effort to approach your customers who work in the fields to do the task. Spend some time speaking to your clients and being aware of what you discover. Any time you invest in your client, it similarly deepens your relationship and could lead, clearly, to destiny customer referrals and win-win outcomes.


Alcohol scholar. Bacon fan. Internetaholic. Beer geek. Thinker. Coffee advocate. Reader. Have a strong interest in consulting about teddy bears in Nigeria. Spent 2001-2004 promoting glue in Pensacola, FL. My current pet project is testing the market for salsa in Las Vegas, NV. In 2008 I was getting to know birdhouses worldwide. Spent 2002-2008 buying and selling easy-bake-ovens in Bethesda, MD. Spent 2002-2009 marketing country music in the financial sector.