If you're thinking about starting a business, or making your existing one more successful, businesswoman and author Lynda Resnick (POM Wonderful, Fiji Water, Teleflora) has some valuable advice for you.
With the current economic turmoil, and so many people out of work and looking for something new to do, now is a good time to start your own business, or to re-evaluate the business you are in.
Some are comparing our current economy to that of the Depression, but that's not the case in the world of small businesses. Big is no longer the best -- there is an opening now for small businesses to get ahead, as they are not burdened with huge overhead or debt and are more flexible than larger companies.
And, the Internet -- that's something that wasn't available during the Depression! The Internet offers a great and inexpensive way of connecting to your community and testing the viability of your product or service to your potential audience through your own website or blog. It has never been easier to become relevant to your virtual followers; it's a great time to be in business.
Discover the Intrinsic Value in Your Product or Service
This can also be referred to as "thinking inside the box," or looking inside the problem to discover the solution.
Unique Selling Proposition
Ask yourself what is unique about your business and what sets you apart from all the others clamoring for attention. That is your unique selling proposition. Of course it must be true, clear, and concise, and it must answer a need in the marketplace.
Community and Transparency
There is a seismic shift in the way businesses are now being viewed and evaluated by the public. Become involved in your community, be it a virtual one on the web or in your town. Give back. With the click of a mouse, today's consumers can determine whether a brand delivers on its value promise -- honesty is the only policy today.
Understand the New Consumer
With the current economic crisis changing America, consumers now have new attitudes, new needs, and new fears. Be sure to do your research. Become relevant to your consumer's life. And do not fear -- believe in yourself, work harder than ever before, and you will succeed.
Resources
Special thanks to
Lynda Resnick (
POM Wonderful,
Fiji Water,
Teleflora) for sharing this information and giving copies of her book, "
Rubies in the Orchard: How to Uncover the Hidden Gems in Your Business," to our studio audience. For more information about Lynda's book, visit
rubiesintheorchard.com.
