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At the moment the news seems full of nothing but doom and disaster, fire and famine, war and pestilence, death and destruction.
Thus that may seem crazy to talk about finding new customers in these circumstances.
On the contrary, now is the time when it is more important than thinking in new business. For starters, during the bad times that can be crucial to find new customers to replace existing customers who go to the wall. On a more positive note, linking it to a forge in difficult times tend to endure, and will likely be the source of much greater gains when good times return.
In many companies, bad times produce as many if not most, business opportunities as well.
If newspapers are full of war and the threat of terrorism, now is the time to sell life insurance. For most people the opportunity to be killed in combat or by terrorists is insignificant, but it is the fear of these possibilities remote sells insurance.
If no images of tornadoes, floods or hurricanes on television, it's time to be of good construction materials. The photos of flat wooden houses are moving, but also an announcement of the bricks. Again, the brick house would stand no better than the wooden front of a major hurricane, but it is the sense of security that is sold.
Even hunger in the Third World is a business opportunity. It would be wrong to exploit the starving local population – which in any case, no money – but when the motion in aid agencies, they and their employees will need all our support on the field.
At this point, there is an obvious question: why write about this instead of go out and do?
For this here is a response equal obvious: businessmen, even hardened sometimes feel there is something indecent to make money from the suffering of others.
But surely it depends on precisely how business is done.
Meeting a basic need is not in itself immoral. It is, however, it is essential that someone does. In fact, it can be a positive moral well to provide food, shelter, water, health, etc.. Nobody in their right mind would say that those who provide these things should be paid. Otherwise, these products and services was reduced to permanent subsistence level everywhere.
So the farmer who grew the food that deserves to be paid. If it happens to be an entrepreneur and efficient farmer producing more, and therefore reduces the price to the consumer, deserves to be paid more.
However, if it reduces the production of food or money saved lead to higher prices – which is really government policy in many Western nations – is a speculator.
He is also a bad employer. If the whole point of getting new customers in bad times is to do more of them in good times, their exploitation will be remembered and others to obtain the benefits that could have done in the long run.
Produces and presents Kingston boy's mind your own business podcast, offering free business advice to entrepreneurs and business owners. Podcasts and audio more articles like this one, videos of weight and a must-read blog. All in www.myobpod.com or you can join the network and the discussions on the group's Facebook MYOB.
About the Author:
I am passionate about business and have enjoyed entrepreneurial success. Most entrepreneurs cut a lonely furrow literally minding their own business. But we can learn a lot from each other.
I am an entrepreneur with the rare distinction of prolonged profitable trading in Russia, complemented by a passion for early stage ventures.
I first went to Russia in 1992 and started what was to become Russia’s leading private mail operator, PXPost, in 1993.
Now, I act as a specialist ‘early-stage’ adviser to the venture capital industry and present the Mind Your Own Business Podcast (http://www.myobpod.com), a unique podcast aimed at entrepreneurs and business owners.
My particular areas of expertise include:
* Start-ups
* Bootstrapping
* Venture appraisal and analysis
* Why businesses fail
* Problem-solving and troubleshooting
* Public speaking
Article Source: ArticlesBase.com – When the Going Gets Tough… the Tough Start Looking for New Customers
