- Be aware of how your market is changing
Global factors like rapid technological change and free trade are going to keep
the job markets in turmoil for some years to come. This will result in
fluctuating consumer spending power and periodic mini recessions.
The consistent annual growth days of the 60's and 70's are long gone and,
therefore, businesses must:
Û Be smarter marketers
Û Be in tune with changing consumer needs and wants
Û Capitalize on changing consumer needs/wants and ensure that staff is
trained and motivated to respond to them- Examine your business
Many businesses like yours should pay close attention to the nuts and bolts
issues such as:
However, often forgotten is the real secret of success!
Maximize sales from the customers that you now have. It is far cheaper to
spend money and effort on keeping existing customers than it is to spend all the
effort and money bringing in new customers.
Inventory levels Growing margins
Inventory turnover Cash flow
Return on investment (ROI)TThhee aannsswweerr iiss ssiimmppllee!!HHooww ccaann yyoouu ddoo tthhiiss?? (^)