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Are You Frozen?
Written by: Adrian MillerArticle Overview: In an economic downturn, we are all like deer on a dark and windy road. Some of us see approaching headlights and instinctively know to leap into the woods. Unfortunately, others of us freeze. Unable to go left or right; we think that wherever we leap to will be worse than our current position. I certainly don’t need to elaborate on what happens to the deer on the road that freezes.
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Are You Frozen?
In an economic
downturn, we are all like deer on a dark and windy road. Some of us see
approaching headlights and instinctively know to leap into the woods.
Unfortunately, others of us freeze. Unable to go left or right; we think that
wherever we leap to will be worse than our current position. I certainly don’t
need to elaborate on what happens to the deer on the road that freezes.
If you’re one prone
to frozen panics in tough financial times, you need to embrace some logic. Just
like the deer in the headlights, you will be doomed to a painful demise unless
you take a leap. When times are challenging, being coward and indecisive can be
fatal business mistakes. Alternatively being bold, creative, and quick-thinking
can not only help you weather through challenges, it can propel you to leap
ahead of your competition that is still stuck in the middle of the road waiting
to be hit.
Take Action
Start by resolving
yourself to do something. Join a new networking group, discover a new
promotional opportunity, or learn a new way to market yourself online – just do
something!
Stay Visible
It’s natural to
feel a little blue when business is slow, but don’t let the blahs turn you into
an office recluse. Detaching yourself from customers and prospects only helps
them to forget you and notice your competitors. Get your name out there any way
that you can. Make calls, send emails, write articles for trade publications,
start a newsletter, send out a press release, and attend any events where you
can reach out to others.
Don’t Cut Your
Marketing Efforts
Companies often
make the knee-jerk decision to cut spending on marketing and promotions during
a slowdown. What a big mistake! This is the time to communicate your message
and offer a value proposition that will resonate with your market. Inevitably,
you will have competitors that scale back their marketing out of sheer
financial necessity. Take advantage of the less crowded playing field and shout
to your customers that you’re still going strong when times are tough.
Keep Positive
Everything in
business is cyclical. It may seem like this economy is taking an incredibly
long time to turn itself around. However, new opportunities and more business
will be there for the taking if you can hang in there and maintain your ability
to think fast and keep moving.
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Article Tags: business mistakes, challenges, coward, current position, deer in the headlights, demise, economic downturn, financial times, logic, networking group, panics, rsquo, span style, style font, weather, windy road
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Related Forum Posts
Re: looking for partner in india
- Hello Roy...
Can you give me the details regarding the Business of Frozen Yogort?
And do you really think that it will be succesfull in India.
looking for partner in india
- Hi,
I am an international investor, looking for local partner in Bombai to open a new “frozen yogurt” chain
Frozen Yogort – Has showed great success over the last 2 years in USA & Europe, many articles can be found on google.
Partner must be local, with capability to work & manage the business as well as financially capable.
thanks,
ROY
Re: Are franchises with unhealthy foods still wise investments?
- [quote="jpower":3t5hgcgk]Thanks for the welcome, Kevin.
There are plenty of food franchises that sell menu items based on what seems to be the four basic food groups: sugar, salt, caffeine, and fat. And when I see one of those ads for a triple or quadruple burgers I cringe.
But, if you open a restaurant featuring sprouts and vegetarian oriented fare, you had better have the right combination and be in the right place, because while the market seems to be moving in that direction, I don't think that it is there yet.
When people begin eating in a healthy manner the restaurants will have to modify their menus to reflect consumer wants. The burger crowd is trying that with salads and fruit cups, so it is happening to a degree now. The franchise restaurant buyer is likely to buy what he thinks will be profitable for him now, and expect that the franchisor will take the lead and provide the system with answers to trends as they develop.[/quote:3t5hgcgk]
Hi jpower,
I'd agree that the market probably isn't ready for a full transition into "healthy eating" since places like Pinkberry are still serving up "sugar". Frozen Yoghurt really isn't as healthy as many people believe.
However, I think that niche franchises (who cater to the health conscious crowd) will still do better than ones like McDonald's who try to modify their menus to cater to everyone's needs. For instance, I dislike McDonald's use of vegetable oil to cook their fries because they don't taste as good as when they were fried in animal fat (in the past). Sure animal fat is unhealthy, but the whole purpose of choosing McDonald's over a healthy chain like Cultures is that when I (or others) want junk food, we want good tasting junk food... not some "make believe" healthy variant.
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