What do you see when you look at this picture? Do you see a game of Jenga nearly complete? Do you see a tower of block about to fall? Do you see the next block that you would take out and add on top? It all depends on your perception.
Many people will just see the picture as a game of Jenga. Passive. Just a picture. That may be true, but what it represents is opportunity. Yes, there is risk in taking the next block out. But – as they say in a casino – you cannot win if you don’t play.
The economy is in an interesting state right now. Things are a little wobbly. But the interesting part is that we can change it. All this is is economics. As business pull back and cut ad spend that means that if you were to buy what they are leaving behind it will not only cost you less, but you will gain market share.
This won’t work with all businesses and all products. Some things just won’t sell with things as they are. Then go somewhere else. Wal-Mart is growing. McDonalds is growing. Thrift stores are growing. It is easy to just dismiss these things as obvious. Resist the temptation. What they are really doing is providing a service that people are seeking out right now. Yes, in this case it is value, but it doesn’t have to be.
Really think about how your business can fit a need for the modern customer. If Lands’ End had never expanded into apparel, would they still be around? BMG is canning its mail-order membership. I just got my “Final Mailing” because they are getting out and moving into a discount model rather than a mail-order model. (On a side note, did you know that if you forgot to decline the ‘Featured Selection’ you could just write “Return To Sender” on the box and they have to ship it back and don’t charge you!)
The point is that people still have needs. Visualize how you can help morph your current business to fit a need. It may be as simple as shifting your marketing to promote value. Or if you are doing that maybe you have to highlight the value and some other feature that the product has.
Winners and losers are being determined as you read this. Which side is your company on?
This has been a Thought From The Cake Scraps.