Are You Taking It For Granted?

By: Dan Kennedy on: November 18th, 2010 4 Comments

I am here to sound a mild alarm.

But a significant one nonetheless. Think back with me for a minute.

The year that was, 2004, was a darned good year. Contrary to pre-election media hype, the economy was very resilient, strong and vibrant all year long. Inspite of war, skyrocketing deficits, the aforementioned media conspiracy to sell the public on how bad things were, the stock market held above 10,000, interest rates stayed low, the housing boom flourished, consumers spent like drunken sailors.

A whole lot of businesspeople did very, very, very well without working all that hard or being very innovative or resourceful. I don’t begrudge anybody such easy prosperity. I’ve benefited from it too, and welcome it. But I am also willing to look the gift horse in the mouth – and I see cavities.

You may have been thinking — Maybe it could all continue unabated. Maybe top real estate values could multiply again. Maybe people would keep buying, buying, buying. Heck, maybe it could get even easier to make tons of money.

But maybe it won’t. And I saw a lot of businesspeople taking it all for granted, assuming what had been will be. Under-investing in taking care of their herds. What the politicos call: solidifying the base. I received less mail from the business I patronize than I can ever remember.

During the Thanksgiving and Christmas seasons, I received fewer acknowledgements from the businesses I patronize than I can ever remember receiving. I was being neglected and taken for granted. Mistake. Under-investing in new customer acquisition.

Many say: we’re so busy we don’t need to market and promote. But start ‘n stop marketing, marketing that chases need rather than anticipates need is a big mistake. Taking excess profits without reinvesting in the business also a mistake. Lazily relying on a single media or single means of marketing or single product or service.

Hazards abound in this behavior.

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    4 Responses

    1. Paul Serwin says:

      Another great post, Dan.

      When times are going well, that is the point that we need to focus even harder on attracting new clients to our business. (That is, if your plan is to exponentially grow your business).

      Isn’t the point of running your own business to grow your business? We must always focus on increasing the amount of customers we have while also focusing on getting more business from each customer.

    2. I made that mistake then , and I regret it because things were sooo GOOD it seemed that it could just go on forever. Thanks to Glazer-Kennedy , I learned a lot about not counting on future money , without having done something to fill the funnel with business, which reminds me I need to cleanse mine of one pain in the worst place client because regardless how much they claim to want new business or regardless of how skinny their kids keep getting, this client calls me about every three weeks claiming he’s ready , to find out that he still wont get out the checkbook to commit. Guess I need another kick in the rear…well this was it

    3. Ray Higdon says:

      As a real estate investor that did very well back then, just to take it on chin a few years later, I can appreciate this article. I have definitely learned to take care of my focused niche better.

    4. Rob Anspach says:

      …yep, been there and yes, made the same mistakes!

      Sometimes we entrepreneurs take for granted our clients and think they will always be loyal, well without letting them know you are there for them, they
      will forget about you.

      Stay in contact! A newsletter, an email, a reminder postcard, a letter, a phone call, a contest,etc – keep them coming back.

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