Business Diversification: Diversify your business or Die!
I was trying to think of some catchy phrase to talk about the importance of diversification and the importance of keeping a pulse on whatever industry you are in. The Internet is no exception.
Recently, a friend informed me that we was closing his brick and mortar business that had been part of a local community for roughly 20 years. I’ve got similar stories from other friends with brick and mortar or service related businesses.
Here’s a fact: Business is constantly evolving. You and I must evolve with business cycles.
One of the major technologies that has changed the way business is conducted is the Internet, but I’m amazed at some of my old-school friends and business associates that fail to take advantage of or evolve with the way their particular industry is changing.
Everyone knows that having a website for your business today is important, just as having a business card was a no-brainer.
For nearly everyone of my personal friends or business associates that has run into roadblocks with their brick and mortar or service business, some of those issues could have been avoided or minimized if they had diversified via their website. Selling products or services, up-sells, cross-marketing, etc.
How has your business been affected by the economy or technology changes? Did you diversify your business or did you miss the boat?
Share your story with our visitors below.
eCommerce outsourcing; Should you consider it for your business?
Just this week I’ve met with two businesses that have been around for quite some time. Successful businesses in their own right, but they’ve never done any business online. Over the years I’ve built many ecommerce sites utilzing open source products such as osCommerce, Zend, and a fairly new shopping cart system from Magento which is gaining market share very rapidly. Back in the day I set up CGI based ecommerce forms that would generate an order number, but nothing like what today’s open source shopping cart tools offer.
Do you have a brick and mortar business? And have never tried e-Commerce. If you’re like many small to medium size business owners, you’re probably intimidated, scared, or just don’t know the right questions to ask. Here’s why I think ecommerce outsourcing can be a win-win for the brick and mortar store or business with product to sell:
- No huge out of pocket expense to the business owner
- Performance based relationship – If the marketing company you work with does not perform, they don’t get paid
- Shared risk by both the business owner and marketing company managing shopping cart
- Business owner is freed up from having to learn everything there is to learn about ecommerce and online marketing
- Reduced time to market and performance
There are many companies that can manage just the marketing side of the equation, and other companies that can handle the shopping cart side and all the minute details associated with setting up your ecommerce website. Search Engine Pro can handle them both.
If you’re thinking of setting up an ecommerce site for the first time, and possibly outsourcing your shopping cart management and/or online marketing give us an opportunity to see if we might be a good match for your product line. If we’re not interested, we’ll tell you right up front. We’ll also be happy to share with you our 10+ years of knowledge in working with ecommerce websites and online marketing.