The directors and managers of the small ” medium technology companies are today forever simply trying to cling to survival, at least for the most part. All we seem to hear about it is how profits and sales are dwindling and that people are having to cut back on everything, and of course, the media jump straight in there to exacerbate the uncertainty and shove it in everyone’s faces.
With the economy in such a dire situation, many businesses will struggle and the hard truth is that some will fail, however there will always be those who survive the downturn, and thrive.
These are the ones who take a positive attitude and do not let themselves get ‘bogged down’ in the negative messages that surround them on the radio, TV or in the newspapers.
There are opportunities to be had in a recession, it is not completely negative. From what was clearly apparent in the recession of 1991, those business who continue to effectively market themselves and advertise their business will be the ones that come out on top for the following years.
Winning Strategies for Success:
The following strategies have been taken from 30 years worth of experience in the technology field and will help your business to rise above the competition at the other end of this recession.
Seek guaranteed survival strategies.
Find ways to ensure that you boost your sales.
Bring in some non-executive directors with ample experience.
Protect your customer base from your competition.
The Entrepreneurs Manifesto: – Britain currently faces one of its toughest tasks in many years. It has to produce enough wealth to provide the government with enough money to pay off their large recessionary debt.
Most companies in the technology industry are not differentiated in the customers mind by their products or solutions, but the quality and value they receive in your service.
Generally speaking, consumers don’t tend to differentiate much between technology companies based on their products, because once a technological advancement has been made, everyone releases a product featuring it at once, and so the companies tend to just, merge. Your company can still create unique value though, but not in the inherent features of a product, but in what value you can offer them outside the product and after the sale.
