Do Not Sit On Your Laurels

meet captain bannerYou will have heard of how Blackberry was once a darling of the market where you would feel lost without the blackberry handset.  By the way many people do not even know the company owning Blackberry, its name is Research In Motion and it is not based in USA but Canada.  What became so special about Blackberry was not the device itself but the functionality of the device.

The BBM messaging that was introduced as BBM and the accessibility of email from the handset made Blackberry the most loved and cherished around the world.  But other companies were not sitting on their laurels as they came with innovations that made Blackberry less popular that it was at the verge of shutting down its door had it not been bailed out.

What happened to blackberry can happen to any company including yours, to guard against such a decline and ultimate fall one has to take heed of the following:

Sell what clients need and are ready to spend on

Before taking your product to the market you need to know exactly how will that product meet the needs of your clients.  Have a thorough knowledge of imported products you sell as some come with Chinese or Spanish manuals. Have a firsthand experience of how it works by using it yourself than selling just to make money without ‘After sale’ service as clients will call you when they face challenges. While excited of how much money you will make also think of how useful that product will be to your clients.

Do not focus on hanging pictures

Have you ever walked into someone’s office and you notice that there is a picture of the owner of the business shaking hands with prominent politician, and when you look and the state of the company you can’t relate the picture hanging on the wall and the image of the company.  The truth is that at one stage that company was in a position to rub shoulders with heads of states based on the quality of service rendered but over time the owners have failed to keep up the standard and instead of finding their mojo and be back on top again they keep telling old stories of how they met prominent leaders.

It is not who you did business with in the past that matters but the ability to still do business with clients and make them happy.  You may keep you picture unchanged on the wall but change how you do business and bring in innovations and development of the product.

Observe your competitors’ moves

Whatever business you venture into know that somebody else has the similar idea.  It is therefore imperative to make sure that you know where your competitors are in terms of innovation and designs.  Do not undermine or ignore those who are upcoming because those are the ones who will one day overtake you.  You can either partner with competitors, merge with them or take over their company than act as if they do not exist in the market.

Develop your product going forward

You have to find ways and means to improve your product.  Don’t be discouraged by criticisms of the product you sell or the service you provide, whatever business you are in was not meant to be for everybody’s liking. Some of your critics are those who thought you would not make it and as you succeed they now become spotters of errors, and some critics may be genuine and you have to improve on what you do.

Always bear in mind that there will be those who see your prices high and those who see your product of no value yet there are those who will clear your shelves by buying what you sell.

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