Business Information by Gladys Edmunds
|At age 15 Gladys developed a travel service that would prosper for more than 30 years. She is a national award winning entrepreneur, keynote speaker, author and columnist. Visit her at www.gladysedmunds.com|
Change: Count on It
I have tried several businesses that have not been successful. My last venture was a retail store specializing in diet foods. Before that I was in the gym fitness business. I would love to be successful in business but so far nothing has worked for me. With each venture I have lost money. These business trends didn’t seem to last long. What do you suggest that has a long life?
Thanks Sam U.
When you want a business to have staying power, it will need to be approached with longevity and preparedness for change on the part of the owner. This requires that you keep abreast of your industry.
If you take a look at the rapidly changing diet industry you will see that almost monthly there is a new diet to try out. And, you will also see that it is quickly replaced by a newer better diet system.
There is nothing wrong with going into a popular business. However, realize the difference between a passing fad and something long lasting. Diets are always going to come and go. This means fast changes for businesses are a part of that industry.
A trip to any Dollar Store will show what happens to all of the low-carb or no-carb diet foods that get pushed out of the big supermarkets in an effort to make room for the new foods with labels like gluten free, soy free, nut free, allergen free and a sundry of other foods to be gobbled up.
When you identify an industry that you would like to be in, make a point of keeping up with any changes that take place. Subscribe to periodicals and the industry trade publications. And read papers regularly so you can see what’s being marketed to people. These things will give you an edge and help you to continue in business.
I spent many years in the travel business. And, I watched travel companies come and go, yet we held steady until I decided to move on to another career. What allowed me to have staying power was the ability to change rapidly with the times. When I started the travel business, group travel African Americans was common, primarily because many people were uncomfortable about traveling alone and felt safety in groups. It wasn’t long before the civil rights movement changed that and group travel started to fall off. In order to continue my business, I started marketing individual and family vacations. Then a slow economy found me moving in the direction of corporation and government business.
If you want to last in the business world you will need to consider keeping up to date on the changes that affect your company. And, so far I have not come across a business that has not had to change many times over the years.
A woman I know owns a landscaping company. She says that in the past few years her company has made many changes to meet the needs and demands of homeowners and commercial companies. She said that when she started the company her customers were satisfied with a weekly lawn cutting. However, over these past few years she has learned to plant and care for flower gardens, cut trees, fertilize, and even build walls around gardens in order to maintain and increase business. She imagines that more will be required of her and her staff as time goes on.
Don’t give up your quest for owning a successful business. Remember we go into our own business to meet the needs of the customer and when the customer changes, we must change also if we want to stay in business.
Read other business articles by Gladys Edmunds