If you are thinking about going into business in a recession, there are some pivotal considerations to make. There are a lot of startups that are succeeding in this recession, and it is important they are also considering what their business strategy needs to be when we come out of this recession. Successful start ups have Comprehensive Business Plans that are very customer centric right now and will continue to be going into what many predict will be a lackluster economic recuperation. Also many successful businesses are very niche oriented right now, serving the needs of very particular customer groups very closely with a customized or highly matched type of product or service offering.
Below are a couple of recession startups that have done well and the reasons why they are doing well. Apply the winning principles to your business.
Save People Lots of Money
A successful start up right now is BillShrink. As Marketing Consultants I would think this business will continue to be successful going forward because customers are much more price conscious for the features of the product or service they buy. BillShrink matches the features you need and the price savings of other cell phone plans, TV packages, credit cards, savings rates, gas and so forth. The service shrinks budgets and gets customers exactly what they need. It puts the customer in firm control.
Success Keys: Timely, Customer Centric, Gives the Customer Power, and Highly Customized to the Customer.
Have a Strong Market Niche
Florence Henderson has come up with a sure winner in the FloH Club. This is a phone support company that helps seniors to understand and use technology, the internet and computers. This strong customer service business helps seniors navigate the web, find things on the web, pay for things on the web, bank on the web, set up their computer, troubleshoot computer problems, set up a computer network, set up email, learn about Facebook and more. Available 24 hours a day, every day of the week.
Success Keys: Targeted Niche, Customer Centric, Empowers Customers, and Highly Customized Services.
Resource: For more help marketing and growing your company, please see this article: How to Write a Business Plan .
Implement in Your Business
Going forward into this recession and coming out of this recession, the successful companies are customer centric and targeted to specialized market niches. Providing a product or service for great value, along with highly customized services, is a winning combination for a recession company and when we come out this recession. Whether or not you are a start up or existing companies, you will do well applying these strategies and principles. These will certainly give you that competitive edge you really need to succeed.
This article is written by Frank Goley, Marketing Consultant for ABC Business Consulting.
