Updated: Nov 19, 2020
Growth requires sales…
But sustained growth requires management.
Sustained growth is otherwise known as CONSTANT CHANGE.
Most companies (management) are proven to resist change whereas the great companies EMBRACE IT.
1 human year = 365 days
1 human year = 7 dog years
1 human year = 20 computer years
The #1 thing I can't stand to hear from business owners is "Well, that's the way we have always done it".
That thought process is damning to the future of your business.
Especially in this "Covid-19 Era" of business, this reigns true.
Just look around your town at the restaurants that have unfortunately had to close because of the curfews, social distancing, mask mandate, and high rising food costs.
Those restaurants, bars, and food trucks that have made it so far "embraced change" and developed a website for online orders, figured out the logistics of delivery, curbside pickup, social distancing tables and condensed menus to save money, time, and cater to their clients.
Another great example of change is the storied competition between ‘Ferrari vs Maserati’
In 2013 Ferrari was named the world's most powerful brand… in that same year, its sales tanked.
The luxury car market exploded after years stuck in a plateau… and the natural assumption was for Ferrari to ride the wave. In a strategic move on steroids during the supercar boom… despite a recording number of people placing deposits for a new Ferrari….
They DECIDED to reduce production.
A supercar boom was going on and Ferrari decided to build fewer cars.
Plus… they raised their prices.
That year they sold fewer cars, more people put in deposits to wait in line for a shiny new Ferrari… and due to price increases, their profits were up 6%.
Down the road, Maserati had a slightly different strategy.
They rode the wave, increased output, doubled the number of models they sold, and created more mainstream type cars and less exclusive models.
Maserati chased revenue.
Ferrari chased exclusivity.
In a nutshell, Ferrari made themselves into a harder and more exclusive club to enter.
Fast forward a few years and guess what? Maserati lost money in 2019. Ferrari had record profits in 2019. Ferrari made $100 million on licensing alone in 2019 (calendars, sunglasses, clothing, etc)… as in they made $100 million without selling a single car.
The power of Ferrari’s brand doesn’t come from the “quality of the product/service”…
The power of Ferrari's brand comes from “what does it say about its consumer?”
Moral of the story?
As a business, you need to be and stay, in DEMAND. Always be busy and semi unavailable. Stay exclusive.
When Steve Jobs was asked for a meeting, regardless of his availability, he wouldn’t meet with you for at least ten days.
Unfortunately, not all of us have multi-million dollar companies and have the pleasure to do that. But, what I'm saying is don't wait for things to change, control the change and you will be more successful going forward!
START HERE...we have many products and services that can help you do just. We will put your budget to work in the right places to get the best ROI in the quickest time.