A plan of action to seek greatness is all very well if you know what is needed; in other words, setting up a system to distribute your products or services needs to be finely tuned in order to gauge market share.
As an example, take a buy and sell business. You have built your client base, and those regular customers begin to buy frequently. You have a complete line of products on the shelves and order in accordance with demand. What differentiates you from the rest of the pack (competitive stores of the same merchandise?) What is your philosophy to be prepared to overcome, if any, eventual pitfalls?
No one can predict what is going to happen in your marketing strategy apart from you. However, there is a difference between probable outcome and the actual events that affect the results. Having adequate stock is an obvious one, so reordering inventory has to be high up on your agenda.
However, sensible while thoughtful businesspeople provide something others lack (overlook) i.e., those unprepared to tackle problems that whether liked, or not, can certainly occur to operational performance. It is difficult to predict your source manufacturer workforce is going to go on strike. If it occurred from an initial, planned few days to then weeks if not months would mean supplies were not readily available and as a consequence client’s who normally purchased at your store, would be obliged to buy elsewhere.
In this scenario alternative suppliers would have been a sensible solution. They should be sourced before obstacles occur to justly be prepared for possible events that could penalize the day-to-day mechanics of your operation. It would be a real shame to have spent time building a client base and then watching them go elsewhere. There are plenty of ways to be prepared; make sure you are ready for success!
There are many different hurdles to overcome in business, and an entrepreneur that provides answers and solutions to eventual burdens is ready for action, so making sure you are one of them will put you on par with others, or give you the edge. Keep in mind not everyone in business is prepared; this information should give a clue to the bigger picture. There is no room for easily avoidable mistakes in successful business tactics.
One way to be prepared is keeping stock levels up to reduce negative events. Realizing this, statistical analysis of what sells and what doesn’t is critical, and making sure the quick sellers are in abundance, and consistently on order is another way to avoid things going kaput. Time will be your judge, so provide valuable input to avoid possible events that can jeopardize your marketing formula. Make sure you are geared to achieve outstanding results on a consistent basis!
Take care!
Prof. Carl Boniface
Written 2012
The Entrepreneur Business written by Carl Boniface is an easy-to-read account of what it takes to develop your own business. As an entrepreneur his simple to understand explanations and experiences will help you create your own startup, pick-up tips to improve your ongoing business, and learn new ways to get better company results.
Packed with simple to follow ideas there are no tricks to what it takes to be successful, have the confidence, and self-motivation to prosper. Get your eBook copy.
Vocabulary builder:
Kaput (adj) = broken and useless; no longer working or effective.
"the water pump's broken, kaput"