Always reinvent your business to follow customer need




Sunday, October 19, 2008 21:10

 

Reinvent your business
You don’t have to be a venture-backed high-tech company to reassess your business model. In fact, the smaller and leaner your business already is, the faster you can shift gears and zoom back into action.

Sit back and take a cold, hard look at your strengths and weaknesses and possible markets. Advertisers may be staying away from your web site in droves, but could corporations use the databases you’ve developed or your technology? If you’ve been selling products online, could they sell offline, too? If you’re not selling online, why aren’t you?

Do you need to develop new products or services? Don’t guess at what customers want and will pay for. Analyze your existing sales and talk to living, breathing prospects. What do they need? What can you provide? What’s the best way to deliver solutions to them? What’s going to bring in the most profit?

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