Take a look at our latest newsletter Click Here
Friday, February 25, 2011
Thursday, February 24, 2011
Darwin Was Right
"It's not the strongest of the species...nor the most intelligent that survives. It is the one most adaptable to change." - Charles Darwin
I'm sure that when Darwin uttered those words he wasn't referring to business. However, the lesson contained is easily applied to the business world. It used to be that the number one reason given for a business failing was "mis-management". That term was much too broad and could refer to a multitude of sins. So, the new number one reason became "lack of sales". If one buys into that rationale, how does a business find itself in that predicament, particularly after years of robust sales numbers. The answer is competition. With the advent of the internet, virtually every business is exposed to worldwide competition. Add to that the number of new competitors and competitive platforms that enter the marketplace every year and the impact can be dizzying. Of course, there are numerous examples throughout history of new competition entering to disrupt a stronghold previously seen as impregnable: Japanese cars vs. Detroit's Big 3, specialty and discount retailers vs. Sears, and a most recent example, Netflix and Redbox vs. Blockbuster. If anyone told us early on that those business icons would be in trouble, we would't have believed it, or would have ordered an immediate drug test for those espousing such a view.
The point is that the single biggest reason for businesses failing in today's economy, is their inability or unwillingness to change. "We're too big, we have a unique product, nobody does it better, it's too expensive" and on and on and on. Consider this: "In business today, in a world wide market, you will never again have a long term competitive advantage in product, service or price". You need to be constantly and continually vigilant of new competitve thrusts and adapt and change quickly to survive. If you don't, you may wake up some day and find yourself on the verge of bankruptcy or failure. Peter Drucker said this years ago, but it is even more applicable now:
"There are three kinds of companies today:
Those who make it happen;
Those who watch it happen;
Those who wonder what happened."
Another important piece of advice comes from former General Electric CEO, Jack Welch:
"Change before you have to."
Start today to really examine your business and determine how you need to change to stay successful, become more successful and avoid failure.
I'm sure that when Darwin uttered those words he wasn't referring to business. However, the lesson contained is easily applied to the business world. It used to be that the number one reason given for a business failing was "mis-management". That term was much too broad and could refer to a multitude of sins. So, the new number one reason became "lack of sales". If one buys into that rationale, how does a business find itself in that predicament, particularly after years of robust sales numbers. The answer is competition. With the advent of the internet, virtually every business is exposed to worldwide competition. Add to that the number of new competitors and competitive platforms that enter the marketplace every year and the impact can be dizzying. Of course, there are numerous examples throughout history of new competition entering to disrupt a stronghold previously seen as impregnable: Japanese cars vs. Detroit's Big 3, specialty and discount retailers vs. Sears, and a most recent example, Netflix and Redbox vs. Blockbuster. If anyone told us early on that those business icons would be in trouble, we would't have believed it, or would have ordered an immediate drug test for those espousing such a view.
The point is that the single biggest reason for businesses failing in today's economy, is their inability or unwillingness to change. "We're too big, we have a unique product, nobody does it better, it's too expensive" and on and on and on. Consider this: "In business today, in a world wide market, you will never again have a long term competitive advantage in product, service or price". You need to be constantly and continually vigilant of new competitve thrusts and adapt and change quickly to survive. If you don't, you may wake up some day and find yourself on the verge of bankruptcy or failure. Peter Drucker said this years ago, but it is even more applicable now:
"There are three kinds of companies today:
Those who make it happen;
Those who watch it happen;
Those who wonder what happened."
Another important piece of advice comes from former General Electric CEO, Jack Welch:
"Change before you have to."
Start today to really examine your business and determine how you need to change to stay successful, become more successful and avoid failure.
Tuesday, February 22, 2011
Friday, February 18, 2011
Trivia Question
How much time - in months - does the average American motorist spend during his lifetime waiting for redlights to turn green? Answer revealed in next post.
Answer: 6 Months
Answer: 6 Months
Wednesday, February 16, 2011
Product Information Available on ARCAT.com
If you need specifications, CAD details and green information on our products, it is available at ARCAT.com. Just click on this link:
Tuesday, February 15, 2011
Improve Your Sales
There are only four ways to improve your sales:
1) Sell more of your existing product to existing customers
2) Sell new products to existing customers
3) Sell existing products to new customers
4) Sell new products to new customers
Interestingly, each of the avenues above becomes more difficult, and more expensive, as you progress from 1 to 4.
Which are you using or not using?
1) Sell more of your existing product to existing customers
2) Sell new products to existing customers
3) Sell existing products to new customers
4) Sell new products to new customers
Interestingly, each of the avenues above becomes more difficult, and more expensive, as you progress from 1 to 4.
Which are you using or not using?
Thursday, February 10, 2011
Welcome To Our Blog!
Welcome to our new blog. We created it to help our customers and potential customers improve their businesses. Here you'll be able to find news, announcements, tips, videos and other information that we hope will help you to not only improve your business, but maybe even your life. In that regard, here is a link to our latest monthly newsletter that is chock full of that kind of stuff:
Click here to go to our latest newsletter
Please feel free to post a comment and tells us what's on your mind. We look forward to hearing from you.
Click here to go to our latest newsletter
Please feel free to post a comment and tells us what's on your mind. We look forward to hearing from you.
Wednesday, February 9, 2011
Quote of the Week
"A lot of times, people don't know what they want until you show it to them..." - Steve Jobs
Friday, February 4, 2011
View Our Corporate Brochure
Custom Components Company is now on Facebook and Twitter!
Connect with us! Were on Facebook and Twitter.
Follow us on Twitter to get up-to-the minute news and information, watch for special offers and give us your feedback. Don't forget to mention us in your tweets! Go to www.twitter.com/ccaep to follow us.
Join us on Facebook, "Like" our facebook page and join in on the conversation. Write something on our wall and share your thoughts and ideas with us. To get to our Fan page, log into your Facebook account and type Custom Components Company in the search box. If you don't already have a Facebook account just go to http://www.facebook.com/ and create one. It's quick and easy. Be sure to hit the "Like" button before you leave.
Follow us on Twitter to get up-to-the minute news and information, watch for special offers and give us your feedback. Don't forget to mention us in your tweets! Go to www.twitter.com/ccaep to follow us.
Tuesday, February 1, 2011
Learning the Secret to Success
Regardless of what business you are in, whether you are a manufacturer, a retailer, a wholesaler, a service provider, a professional, an artist, etc., there are some basic principles of business success common to all these activities. Click here to learn more
Subscribe to:
Posts (Atom)