I will say it again, today's small businesses have a real opportunity to grow their business by thinking outside of the box; getting creative and maybe even finally forcing your business in a new direction, which you've been delaying.
Moreover, these changes can create opportunities for public relations for your business, further setting you apart from competitors. Here is a great article from Business Week Small Business.....
Is It Time for Your Business to Change Course? By Ann Field Business Week
In an economy like this, it may take more than tinkering to turn you company around. But big changes carry big risks
Kim Matheson Shedrick had spent 16 years growing New York-based Natural Resources into a 15-person, $1 million company that advises developers of high-end spas. But in late 2008 no one was building much of anything, never mind pricey spas selling hot seashell massages and lavender-oil body scrubs. Matheson Shedrick decided the time was ripe for an idea she'd been kicking around since 2001—mySpaShop.com, which would offer products and wellness advice for less affluent spa aficionados. "I looked at how I could use all the contacts I have in the industry to target the customer who can't spend $500 visiting a spa," says Matheson Shedrick, who now makes $10,000 a month through the site. She also expanded the B-to-B side of her company, charging spa owners a monthly fee for advice on how to boost revenue. She expects the new line of work to bring in about 15% of her overall sales by the end of the year.
Sometimes, when business is bad, you can't just tinker at the edges—you have to make fundamental changes to your company. That might mean selling to a new market or changing your offerings. It might mean strategic changes in distribution or marketing.
Read more....
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