Companies are making money in this economy. Why aren’t you?
Lot’s of companies are doing quite well, thank you, even in this economy. So why am I reading daily about how “bad” things are for most companies?
I just read an article in the Wall Street Journal that once again noted the continuing sales strength of “high-end” goods despite all the fear about an economic downturn. And we aren’t talking about “millionaire” products. This particular article was talking about Coach leather goods, which are just barely above mainstream.
I’ve noted before that Mercedes dealers (at least the ones who were doing well before the economy started heading south) have been doing at least as well as last year and many cases better. And their sales strength is not at the high-end of their line where you would think those immune to the economy might be, but rather at the low-end, catching trade-ups from “lesser” vehicles. Every other auto brand I’ve looked at is hurting badly.
Apple is making money, and it’s not because of their technology. (Their technology only supports the real reason.) There are also thousands of small companies out there who are creating double-digit growth in this economy, because they are focusing upon what is really important to customers.
So why aren’t you enjoying this same kind of strength? Could it be that you’ve been discounting your product whenever you received any pressure, so now customers know your product isn’t worth what you claim it is? Could it be that you’ve fooled yourself into believing that customers only want to consider price, so you’ve under-engineered your product to appeal to the most fearful and financially-vulnerable people in our economy? Could it be that you have lost yourself in the battle to add features, functional performance, and “quality” to your products, while missing the most important aspects of emotional fulfillment that I discovered to be the real secret behind Alpha companies? Could it be that you still believe that you can’t predictably manage and control the revenue side, so you’re lost in the cost-side management trap that is destroying American businesses?
Stop it. Start making money now. Forget the economy; it’s all in people’s minds anyway. (And I meant that literally: it’s all in their fear and the resulting lack of spending.) The secret is to change their minds by giving people a vision for what they can enjoy and who they will be perceived to be. That’s how every Alpha company has gained the control they have over their competitors and over customer buying decisions. End-users, competitors, retailers, and distributors follow their lead, because they “own” the decision process.
Since this is my blog, I will be direct. If you don’t already own and have not already read “The Alpha Factor,” then do it this week. It has the secret to creating more wealth than you have ever thought possible in as little as six months, even if you have not been able to grow your business in years.
As one Alpha has said it so poignantly, “Just Do It.” Stop the whining and do something about it.