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.
14th November 2011