Sales Octane #59

Buyer Behavior Change Now and Later

In business and in life, we do have a choice. And the choice really boils down to this...either we manage change, or it will manage us.

The truth, of course, is that change can be a wonderful gift. In fact, it is the key that unlocks the doors to growth and excitement in any organization.

Then why is it so hard? Why...because we are all creatures of habit and unchartered waters are scary!

A big part of your success, as a leader, will be your ability to inspire your team to get out of their comfort zones, to assure them that even though you're on a new path, it's the right path, for the right reasons.

Let's look at a snapshot of the current climate for doing business:

•1.     A corporation fails every 3 minutes

•2.    A directorship changes every 32 seconds

•3.    A company changes control every 15 minutes

•4.    96 percent of all companies fail within 10 years

•5.    26,000 new products and brands are introduced every year

•6.    16 to 30 percent of consumers change brand loyalty in one evening of watching commercials

•7.    74 percent of consumer buy outside their favorite brands

•8.    29 percent of consumers do not read a newspaper.

•9.    Real Estate sales are down 45% in 2008

Where does your business stand in 2008?  Are you up or down in 2008?  Why? 

Now that you have asked these questions did you answer them or are you just reading?  I guarantee you that successful businesses ask these questions everyday in both a good economic cycle and a bad economic cycle.

The media reports that business people may feel like they are losing an edge in today's economic environment.  There is not a chance of this happening.  Innovative entrepreneurs and curious consumers will keep us going forward. 

We live in the most commercial time in history.  Our culture is completely embedded in this pervasion.  There is no other time in history where commerce and business have so entirely been injected into our everyday life.

Today your business needs to focus on innovation.  Look to successful entrepreneurs in other industries.  You and your business are great innovators.  You are skilled at implementing and adapting.  Do not under appreciate your contribution and input.  Every innovation, gizmo, widget creates new services, ideas, and commerce that did not exist before.

Now forget for a moment about the current economic quandary.  Our country is about to face a more immediate need and demand.  The emergence of the "echo boomers" is about push this country entrepreneur into overtime.  The prospect of widespread shortages of all products and services will create a new kind of economy. 

You need to be ahead of the curve, finding opportunity in one of the most potential emerging markets the world has seen in some time.

Maverick Rules!