Demand, Part 1
Recent economic reports -- and the projections for the remainder of 2011 and early 2012 -- have been grim. The Federal Reserve added a new "twist" to its arsenal of unconventional tactics as it downgraded it's economic view. Doom and gloom is pervasive, economically speaking, it seems.
There are many aspects of the world that can and should worry us as human beings. But as business people, our success is directly dependent on our ability to focus on the drivers of our organizations and not be distracted.
What's a business owner to do? Turn off the telly...delete CNBC from your bookmarks...stop worrying about the macro. Why? It's not in your control.
During the latter days of the year, you should be focusing on a plan for stoking demand for YOUR products. That's totally within your control.
Start with your customer base...when was the last time you talked with your customers? Have you analyzed your sales; do you understand what they are buying and why? Have you conducted a marketing review and ROI to determine if you are in synch with buying patterns and demand. Do you know which 50 percent of your marketing spend is being wasted?
Don't have a plan? In our next post, we'll share some tips.