If you have a lot of ideas you want to try for your business, that's a good thing. But going in too many directions at one time can also hurt the core value of your business. This is where competitors can steal customers while you're not looking. You must always keep an eye on your main business because that's the one that pays most of the bills and funds your payroll.
When you feel that your competitors are closing in, get back to basics that made your business great and keep it strong. Don't take regular customers for granted because someone is always trying to lure them away. If you're more interested in new endeavors, you're leaving the door unlocked for those customers to be taken from you. You wouldn't leave your car unattended with the keys in it, so don't leave your customers unattended either. The profit thieves are always lurking around.
More on competition in chapter 9 of my book "When the Shit Hits the Fan" Career Press Publ. available at amazon & bookstores.
Thursday, January 13, 2011
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