Wednesday, July 16, 2014

When Opportunity Knocks…

One of the biggest mistakes I see new business owners make is not knowing when opportunity is knocking. This fundamental cornerstone of business isn’t often taught in business school, but often talked about. You have to know when and where to look for opportunities in order to expand.

The best way to create your own business opportunity is by offering an upgraded version of your products or services. Yes, create your own opportunity. If sales are starting to flat line then take a page out of Apple’s tech book and create a newer, better version of your old products or sales.

You also want to seek out a narrowcast of options. This is a TV term but it applies to business. Don’t try to market your product or services to all of the people, all of the time. Instead, be precise about the group you want to capture and then start seeking out opportunities to network, introduce or promote your product at.

Don’t think advertising alone will create opportunities, either. Long term publicity campaigns are needed in order to layer your brand’s identity in a credible manner. Ads don’t produce credibility, longevity or a huge push in ROI.

Remember, creating your own opportunities are the best ones to take advantage of!

Until next time,

Twyla N. Garrett

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