Even In Down Markets, Businesses Need To Figure Out How To Grow
March 29, 2012 Leave a comment
Believe it or not, businesses can grow in down markets!
This is especially true for small businesses. However, many businesses are still in survival mode.
As the general population gets larger, the development of niches became more of a potential; especially with the recent trend of buying local. However the “buy local” can actually be developed nationally and internationally.
Last week I had the opportunity to go to the launch party of Feelgoodz, a 100% recyclable and biodegradable flip flop, in Raleigh. It was great to see the store and meet the owners. However, after reflecting on the event, if someone had told me five years ago about a company being successful in this space, I would have thought they were crazy. Here is a local company that is being successful by developing a niche. However, their “local” niche ships worldwide. Here is a prime example of how a small business is being successful by developing its own unique niche.
What are you doing to grow your business instead of just survive?
–J. Nolfo helps companies understand their market and customers though a variety of market research strategies. He has over ten years of experience of market research for strategic planning purposes. He is the Director of Research at Rhino Market Research. He shares his thoughts about market research and business concepts with his blog “Pensare…Understanding Market Research in Business“. If you would like to discuss this blog or how J. can help you understand your market and customer needs, email him at email@example.com.