What Kind of Business are you?
Knowing what type of business model works best for you is of the utmost importance. And yet, most small businesses and even some larger ones don’t understand how to market and sell their products and services. Even more importantly, they don’t know how to get beyond their first client and their first sale. Is that you?
There are basically two kinds of businesses – 1. Business to Consumer and 2. Business to Business.
Business to Consumer is the one we all have the most experience with and the one that also gives small businesses the most trouble and confusion. Business to Consumer is the Retail model and is based solely on product, pricing and convenience. Quality is not as important as a quick fix for a short term problem. You need a new suit, you are hungry, you need a new dishwasher. Choices are usually easy and quick. That’s great for large department and discount stores as well as fast food chains. Consumers want a quick in and out experience. One day, a certain store will be closer for that quick fix or having a special sale on their merchandise. The next day, another store may be more convenient and offer a better price. There is absolutely no consumer loyalty and not much of any repeat business. They profit on volume and short term sales.
Can you see how that approach is likely a dead-end street for you as a small business owner? First of all, it’s tough to compete with larger competitors who can offer low pricing and have deep pockets. You are out of your league and will always be scrambling for more business.
If you have been operating under the Business to Consumer model and are wondering why you aren’t getting any repeat business? – now have the answer. You are a little fish in a very big pond. With this model, that is all you will ever be.
The Business to Business model is the one you want. This model doesn’t focus on quick sales. It has a slower buying process because Business to Business is relationship based. Your “bigness” as a fish in this pond is your reputation for service and quality and even more importantly, your FOLLOW UP. Your goal is to build trust and to make the customer happy. You want your customer to feel loyalty toward you and what you sell or do. This will produce longevity in your business and repeat customers and referrals. It will take time. Business building is not a sprint – it is a marathon! When you build a trusting relationship with a client, price and convenience are no longer the main criteria for purchase. Did you just hear that? They know you, trust you and like you. Therefore, they don’t want to have to look any further for a solution to their problem. You solve their problem without worry. This is the basis for business development and growth – not hit and run, one trick pony selling! Now you truly have no competition. Once you get that concept, your efforts at building client relationships will grow quality referrals and lifelong business relationships. This must always be your goal.
Aging in Place – What does that mean?
Aging In Place” is a senior care industry term for helping elderly remain in their home rather than live with family or go into assisted living. I hate this term. It sounds like leftovers rotting in the refrigerator. Who wants to do that?
We are all living longer than anybody expected. When Social Security was created, people retired at 65 and the government expected them to die by age 72 and they did! Not so, now. It is not unusual for people to live well beyond eighty and indeed the population of those 100+ continues to grow. In fact, futurists predict that by the middle of this century, living beyond 100 years will be the norm.
So if seniors want to remain at home, what exactly do they need to accomplish that? I’m here to tell you that aging in place is more than grab bars in the tub and Meals on Wheels delivery. Remaining at home doesn’t mean days filled with TV and solitaire either.
Let’s discard the term “aging in place” right now. I prefer using the term “Safe, Happy and Engaged In Life at Home”. No rotting in the fridge allowed. If your beloved senior is rotting at home, it’s time to make a change or move them somewhere else.
The term “use it or lose it” applies here in the very strictest sense. In this youth oriented world, seniors are made to feel irrelevant. With most of them non tech savvy, the internet makes them feel left out. The world is scarier now, crowds make them nervous and politics make them crazy. Without anyone to talk to, they can become very unsociable and even more reluctant to re engage in life. So what is the solution?
First of all, families of seniors have to be willing to look deeper into the lives that their elders are living. If they are slipping in to dementia, is it because they have nothing to do other than watch Jeopardy and play solitaire and nothing to think about or is it for organic reasons? I’m not entirely convinced that all dementia is organic. In my senior move management practice, I have seen many seniors blossom both physically and mentally when they are reconnected with the outside world. So can they be Safe, Happy and Engaged in Life at home? Maybe. It will take more than a visiting nurse and food delivery to accomplish it. Seniors need to BE in the world – participating at a Senior Community Center and taken to their beloved symphonies, lectures or theatre as well as interaction with younger people. A couple of basic classes on the internet wouldn’t hurt either! What fun to send emails to their grandchildren!
So much of their lost mobility is due to lack of exercise. A colleague of mine commented the other day that if she saw one more group of seniors playing balloon volleyball, she was going to scream. Seniors need physical activity too -from professionals – not just the activity director who is also in charge of arts and crafts. We have to remember that these little old wrinkled bodies once ran the world, indeed SAVED the world and still have a lot of show us and we owe them more than a life of Jeopardy and Solitaire at home.
If you have a loved one who wants to stay at home, make sure they are not rotting like leftovers in the fridge. If you choose to move them to assisted living, stay clear of balloon volleyball!
First it was Y2K and now it's the end of the world in 2012? Get over it!
Welcome to the second decade of the 21st Century! How did that happen so quickly? It seems like we just got over worrying about our computer systems imploding on the eve of 2000, which proves my point: Worrying about things that probably won’t happen, is a waste of time. True futurists see possibilities as well as pitfalls and seek to prepare rather than scare. The times, while certainly changing and challenging, are also very exciting indeed.
Here are 5 major trends/possibilities to watch for and act upon in 2010 and beyond:
1. Green Technology/Water Conservation
The terms Green technology, carbon footprint, climate change, eco friendly, re usable, recyclable will be the words spoken, written, discussed and planned for in huge proportions from now on. This will impact large industry as well as small businesses and households who will be compelled willingly or unwillingly to save the planet. Business travel will become more limited as the “carbon footprint” is more top of mind. It will be replaced with online and virtual meetings. This will impact airlines, hotels and other travel related industries. However, it will also greatly increase opportunities for online learning, webinars and teleseminars. Hopefully, that will mean not only less carbon dioxide in the air but more quality time at home. Water shortages will replace gas shortages. Growing populations create agricultural and industrial growth. Everybody is going to need more water. Every industry, from agriculture to manufacturing to landscaping and pool services will be impacted. How can you participate in these growing trends? What service can you provide/create for this growing need to reduce the carbon footprint?
2. Elder Care
Life expectancy grows to age 100+. This will affect every aspect of society – from jobs, housing, health care, retirement needs, mortality tables, insurance costs, elder care/assisted living needs, the definition of a nuclear family and caregiver roles. Growth in a senior population will affect laws on inheritance, elder abuse, conservancy, real estate, investments, housing design and construction, medical care and medical support systems.
This phenomenon is causing a shift in elder care models. What worked for families with ailing seniors in the late 20th century may not be possible or practical now. Adult children live more hectic and demanding lives and may not live nearby. By the time senior parents need help; their kids are near retirement too! Savings and retirement funds are running out as people are living longer. What is to be done as the majority population of the western world continues to age? The need here is huge. What kinds of services can you provide to this growing population and their concerned families?
3. Internet:
It’s getting bigger and more important by the minute. The worldwide web offers everyone who is “connected” the opportunity to search for information, hire a professional, purchase homes as well as goods and services and even meet the person of their dreams. LinkedIn, Facebook and a myriad of other social networks allow people and businesses to connect. It’s not going away. It’s only going to get bigger and more important. If you still see yourself as only “local”, you are in the minority and you are missing out on amazing internet marketing and sales opportunities. Individuals and businesses are now connecting all over the globe. If your website is 20th century brochure style – get moving and get interactive. Videos and blogs are not a passing fancy and really promote your website presence. What can you do to update your web presence right now?
4. Personal Growth/Personal Health/Slowing Down the Aging Process:
As baby boomers are seeing their parents reaping the rewards of unhealthy living (smoking, obesity, lack of exercise) requiring walkers, wheelchairs and oxygen tanks at the end of their lives, they are beginning to rethink their own lifestyles so as not to suffer the same fate. It’s not just about looking younger. It’s about feeling younger… Health and Fitness is the wave of the future. Low glycemic index diets, exercise, and a new awareness that diabetes 2 is purely lifestyle related and not to be expected in old age is the new trend. This will affect restaurants and food manufacturing and packaging. Think brown rice and whole grains. Goodbye simple carbs, saturated fats and high fructose corn syrup. It’s making us sick and we know it. It may be convenient up front but very costly at the end and we know it.
As mainstream churches struggle to remain relevant in the 21st century, New Age thinking, aka, ‘The Secret’ is on the rise. Meditation, Yoga, Retreats and Health Spas cater not only to individuals but companies looking for innovative ways to conduct business meetings and team building events. Blend making more money with getting healthier and you have struck gold. If you are in the health, wellness or hospitality industry, this is a major trend for you.
5. Re-emergence of Entrepreneurship
In 1776 more than 95% of all Americans were entrepreneurs. By the middle of the 20th century, that number had dwindled to less than 30%. The industrial revolution enticed people to leave their farms and shut down small businesses to seek employment in the cities. The Great Depression accelerated the process. This resulted in the breakup of families and a dependence on manufactured goods and credit.
In 2010, it is back to basics. Generation X & Y aren’t so willing to give their lives to the corporation. Small business growth is seen as the savior of our downtrodden economy. Are you a small business owner? Rejoice. While you can buy a house or a car online, there are many services that must be done in person. If you are an electrician, plumber, medical care provider or other hands on professional, this is the decade for you. The key to your success will be customer service and follow up. In this ever increasing internet centered world, it will be the personal touch that you provide to your clients that will be the “secret sauce” that will grow your business.
There are many other trends in science and industry that are truly exciting – from smart machines that anticipate our every need to a possible cure for cancer and the end of inherited disease. While we you are enjoying the benefits of these future trends, what will you do to contribute to them?
Kim Clausen is my teacher and good friend. That is why I am sharing this with you. These are such important mindsets to have as we all begin the second decade of the new millennium. Happy New Year!
-
Read Marilyn's Latest Articles- Entertaining Article 102-Year-Old Poker Player Teaches Lessons
- Entertaining video clip from Nightline on Recycling.
- Marilyn highly recommends Social Media Magic
- A great article form Mature Market Experts Boomers 55+ Housing Wish List