It can seem that the world is occasionally stacking itself against your business; it can sometimes seem that world is constantly stacking itself against your business. Try as you might, your business hasn’t yet been established as a long lasting, viable business. But if your product or service is good, then what else could it be? Alas, the quality of your business isn’t the problem - it’s a series of internal and external factors that are the problem. Take a look at some the lesser mentioned factors that can be hurting your profits.
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The Neighborhood
Unless you’re a world leader in your industry and are able to set the tone for what’s hot and not, there’s every chance that your postal address and the location of your premises affects how your company is perceived. If you live in a busy area, then existing in a neighborhood that is blighted by crime and other social problems might put potential visitors off. If you’re out in a quiet area, then you’ll have a different problem - people might not be able to find you. To combat this, you can highlight the unique aspects of your location, move to a more fashionable address, or use a service such as http://www.pgos.ch and get the address without having to move.
Who’s in the White House?
Some things really are out of your control. For example, a President who makes it difficult to do business or imposes pages and pages of regulations might wrap your time up in red tape, costing you time and money. Others, meanwhile, will affect the economy to such an extent that banks and other lenders don’t want to risk lending money, which can make it difficult to finance your growth. If you’re casting your vote with an eye on your business, then it should go to a president who would want to help businesses and is also a calming figure who won’t send the stock market into meltdown!
The Vision
You might have a great product or service, but then...so does everybody else. Companies are affected more by their lack of vision than what they’re actually offering. You need to have a thoroughly unique selling point and find your niche in the market if you want to succeed. If you’re passionate about your company then it might seem a bit gimmicky, but it’s half the battle on the road to success.
Passing Whims
Humans are a fickle breed, and trends come and go like the wind. Take a look at Apple: a few years ago they were untouchable. And now? Things aren’t quite what they used to be. Luckily for them, they have bags and bags and bags of cash lying around that can take them back to the top. You might not have. When things are going well, make sure you’re innovating and looking to stay ahead of the curve. Pay attention to subtle shifts in the market; they might just determine how well you’ll be doing in the coming years.
