It’s true, some small business owners are doing better. Why?

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It’s true, some small business owners are doing better. Why?

On November 16, 2009, in Building Profitable Business Orgs., Business Turnarounds, Sales and Marketing, the economy, by Don Todrin

I talk to small business owners where ever I go, where ever I shop, and whomever I speak with, and while it remains true the economy is far from recovering, we have not yet bottomed out and have a ways to go, there are many examples of business owners doing better.
It is impossible to generalize as each situation tends to be unique but overall I can take a few lessons away from these conversations as follows:

1. It’s not about the growth within the market place, that is not what is happening, it is about one businesses grabbing an additional share of a smaller market, that IS what is happening with many of those who are successful. It appears to be a matter of doing a better job of adjusting to the existing market and attracting more of the remaining business that is available.

2. It is also about the consumer believing he/she is getting a fair deal, good value and quality merchandise. Everyone is involved in adjusting their consumerism attitude where we collect goods to feel better. Now they are buying what they want and need but far more selectively, and shopping for a good experience which includes many aspects, price, guaranty, shopping experience, a deal, whatever it takes.

3. Not everyone has lost their job, not everyone is dealing with reduced pay. There remains a huge market of well off, successful consumers who have more than enough disposable income to continue to afford their wants and needs and purchasing whatever they choose whenever they want to, and these people remain available to market to and earn from. It is not just the high end; it is throughout the maize of consumers. While many are losing their jobs the remainder, the vast majority are doing fine, even better, in many cases better than before. They may have changed their buying attitude but they are available for the right pitch.

4. With so much of the competition being weeded out through closings, the last man standing theory is putting the remaining small businesses into a better and better light. A huge wave of buying local, buying from smaller stores and regaining the quality relationships that were universal is returning. The shopping experience has changed and quality relationship building is back in the mix, trust is being reestablished. This is where small business can out-compete large box stores and take back a percentage of the market they lost to them previously. Reconsider the customer shopping experience received when working with your business.

5. The objective now is to lead, not follow. You cannot succeed if you are responding to your competition, you can win if you are out in front, taking the lead and forcing your competition to respond to you. It’s time to put on your happy face and rock and roll, the market is yours for the taking, it’s a hard job but what other choice do you have?

The tide is turning against the big box stores and the weaker small stores. Stand out and take the lead, you will be rewarded.

No time for excuses, the opportunity, as always, exists for those who dare to excel.

About Don Todrin

Don Todrin is the CEO and Founder of Second Wind Consultants, Inc.. Don and his company specialize in SBA Loan Workouts, Offer in Compromise, business debt forgiveness and solving difficult business problems in general. Follow me on Twitter or become a fan of Second Wind Consultants on Facebook.