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Is Your Business on Thin Ice

By: Dan Kennedy on: August 16th, 2010 5 Comments

In business, where there seemed to be firm earth there’s a gaping hole in the blink of an eye. All this begs several life strategies:

First, assume nothing, take nothing for granted, do not become too heavily reliant on any one thing, expect sudden change from day to day. Everything is thin ice.

Second, solidify your base. The one thing, the only thing you may be able to count on holding its value for you: your good customers. In the NO B.S. MARKETING LETTER, I talk about this as a “prime asset” you must safeguard, invest in and leverage.

Third, diversify your marketing, and your means of acquiring customers. I continually preach the importance of having many media at work, many means of growing your business, so when any one or two are suddenly, unexpectedly yanked away from you, you are merely inconvenienced, not traumatized or bankrupted. The same with sources of income – several to many, not one or two.

Fourth, niche. We enter the era of permission-only marketing. Not as option, as law. It is infinitely easier to secure and sustain permission when you are niched. You are instantly and automatically more a Welcome Guest when you are clearly perceived as specifically relevant.

Fifth, avoid inflexibility. One of my cleverest clients told me how careful he is to keep his business “scaleable” – easily, quickly scaled back or scaled up, as sales, profits, problems, opportunities warrant. You need to be fast on your feet…unencumbered.

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Author Info:  Dan Kennedy is internationally recognized as the 'Millionaire Maker,' helping people in just about every category of business turn their ideas into fortunes. Dan's "No B.S." approach is refreshing amidst a world of small business marketing hype and enriches those who act on his advice.


5 Responses

  1. All five points are solid gold.

    as far as #3…. if you get all your customers from a single source (say you receive referrals for tutoring services from the local school principal… or a specific trade show is where you pick yup your orders for the season), and one day the staff changes, you are now in big trouble…

    having several different entry points how customers come to you will ensure that even in the event of a major disruption of one, or even two or your different marketing tactics does not pan out, your business will survive it… and thrive.

  2. Charles Ra says:

    First, assume nothing, take nothing for granted
    Second, solidify your base
    Third, diversify your marketing
    Fourth, niche
    Fifth, avoid inflexibility
    amazing points, thank you Dan

  3. Dan, these are true gold nuggets of business that you’re sharing with us. Since reading your No BS guides I’ve looked at how I work with customers – or as I call them, friends of the business – in totally different ways.

    Looking forward to connecting with you soon. Have a fantastic week.

  4. [...] In yesterday’s post, I talked about how things change quickly in business and how these changes can alter your life strategies. Now let’s talk about an unhelpful image [...]

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