Business Success Center

Good Is Not Good Enough

Have you ever heard a CEO say they would like to decrease their market share? “The company is generating entirely too much revenue; we’ve got to slow down!”

We know in the real business world that every company leader wants more customers, more productivity, and, ultimately, more revenue. However, when you ask how they are doing with their marketing efforts, most will say they think they are doing “pretty good”. “Pretty good?” Not only is that poor grammar, but it’s also a fact in our competitive market that good is not good enough.

Take, for example, a business man who was opening a new service business in his community. With long-term experience in his industry, he made it a priority to study his future competition. His top two competitors are established companies with very successful histories in the community. He noted that while both did some sporadic advertising, they lacked complete marketing efforts and certainly were not aggressive. They continue to do the same things, relying on referrals and assuming that they will always retain steady business. By realizing he needed to take the opposite approach, this business man will soon become the leader in his community. Given his marketing plan based upon experience and research, he has increased his odds of success.

This example provides a valuable lesson. Just as the entrepreneurial spirit is alive in our culture, so is the tendency to be reactive and static. We continue to plug along until we are forced to jump into the action and make changes.

It only makes sense…change is stressful, and change often takes us out of our comfort zone. But, change means survival in the business world. And, the best time to change is when you don’t have to! The market around you is changing constantly, and you’ve got to stay on top of it or your company is destined for mediocrity at best—and failure at worst. Your past efforts should be used as a guide rather than an assurance for success in the future.

Both new and established businesses need to ask themselves if they are being proactive or reactive with their marketing efforts. Embrace change and accept that, oddly enough, it is the only thing in the business world that is constant. Remember that good is not good enough to ensure long-term success.

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