There are two parts to this article. The first part offers people in business a reminder of what can and must be done right now for your business. The second part offers my point of view on who is responsible for the less than exciting economic news headlines that seem to be part of our daily routine.
The Number One Action Step You Can Take To Grow Your Business In Difficult Economic Times and In Booming Economic Times.
Spend 50% of your time finding out how you can provide more value to your existing customers. As you find out then deliver that value. Spend 30 % of your time developing new customers. In summary, spend 80% of your time marketing. That’s it. If you are not growing your business, you are killing your business.
Who Is Responsible For The Negative Economic Events We Hear About Daily?
Do you remember there are rules and regulations already in place governing the banking system? Really doing a good job right?
Do you remember Sarbanes-Oxley? This was and is the law in response to the Enron fiasco and a number of other business situations awhile back. The idea was to prevent similar disasters from recurring. People seemed to forget there has been a professional internal controls standard already in place along with public company rules and regulations governed by the SEC. So with well founded governing policy already in place we enacted a law that has cost taxpayers billions of dollars and what is the result?
We have huge losses. The financial markets are in turmoil and so what is the conclusion? Our elected officials say we need more regulation. Where is it in the founding principles of our government does it say “we the people want the government to stick its nose everywhere we live and do business.”
Obviously I am a major advocate of very little federal government regulation and so a fair question is what are the alternatives?
I always look to what works for answers. In the history of our economy there are plenty of examples that provide guidance. When businesses provide value equal to or more than the price charged, people buy what is offered. When a business comes along and offers a competitive alternative that is superior to what is available people vote with their wallets. If what is offered by a business is not profitable for the business it ultimately fails. One example of this is the train wreck that occurred in the Internet Industry a number of years ago. Companies had a great story and were funded by private investors, but had no substantive product that was in demand by the market place or at least at a price the market was willing to pay. The economics of supply and demand worked perfectly. Companies failed and private investors got smarter. Where there was abuse, people went to Club Fed. Basic governance worked.
This portion of this article started with the question of who is responsible for the economic mess we seem to be in right now? Here is the answer……look in the mirror. We have allowed our governments to grow out of control and the ripple effect is an economic mess across this country that extends to international markets.
It is my belief I am totally responsible for everything that happens in my life. It took me a long time to understand that. Once I did, I can point to a noticeable improvement. Extending that to our economy and even beyond our borders, I know that when each person stops looking to others for a solution and delivers the message to people in public office that we have had enough with the regulations that don’t work, we as a country will grow stronger. We have the right to live our intentions in freedom and peace and we are sitting back and allowing others to weaken that right. It is time to say no more.
Sending all my readers the energy of wellness, peace and abundance.
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Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. Don’t miss my FREE Report: How To Make More Money With Your Business Now and Long Term I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871 Remember many of my business building articles can be found at Steve Reports and my prosperity building tool (best tool ever for helping you manifest your goals and dreams) is The Prosperity Tool Chest and guiding articles posted very often at Prosperity Tip