Roger Pemberton, our Norwich business coach, here provides the third of 8 keys to help business owners recession proof their business.
Key 3 - Choose Products with Care and Attention
Remember these four factors and look at how your business can adapt to them:
1 - People still spend money during a recession!
2 - Customers are more careful and look for value - so ensure you demonstrate it clearly.
3 - Choose your products and services carefully - innovation is key in these times.
4 - Identify a niche and fill it - in other words find the gap between what your competition offer anf the market are looking for and fill it.
I hope this helps you plan for the coming months. Please get in touch if you would like to discuss how you can use these keys in your business.
Roger
