Why failing businesses are a good thing
Posted by Jeremy L. Knauff | August 17th, 2009
Hi, it looks like you're new here...be sure and subscribe to our RSS feed. Thanks for visiting and we hope you come back soon!
I was driving to meet with a client last week. Along the way, I noticed that a business I used to frequent had closed. This wasn’t an isolated case; lately, I’ve seen a lot of “for rent” signs in windows because cash-strapped businesses have been shutting down left and right.
It got me thinking, this can actually be a good thing for the entrepreneurs who’ve got what it takes to work through the hard times.
For every competitor that goes under, you have the potential to automatically gain a part of their market share even if you don’t do anything different than you’re doing now. If you happen to have the funds to increase your advertising budget at the same time, you can build an even stronger position.
And if you’re one of those entrepreneurs who plans on sticking around through these tough times, be sure to check back this week for an upcoming post on some low and no-cost advertising techniques that you can use to get the most from the situation.
Related posts:
- What are you doing during slow times? - When the economy begins grinding to a halt like many experts feel that it is headed towards now, small business...
- Partner for profits - At some point, most businesses, especially small businesses will find themselves in a position where they feel that they can’t...
- Google still maintains lead in searches - The latest study shows that Google is still in the lead when it comes to searches preformed in the U.S....
2 Responses to “Why failing businesses are a good thing”
Leave a Reply
Join Our Newsletter
Recent Articles
Categories
- Advertising
- Blogging
- Branding
- Copywriting
- Customer Service
- Direct Mail Marketing
- Email Marketing
- Graphic Design
- Guerrilla Marketing
- Internet Marketing
- Marketing Resources
- Marketing Strategy
- Our Clients
- Pricing Strategy
- Product Development
- Reputation Management
- Sales & Networking
- Search Engine Optimization
- Social Media
- Technology
- Thought Leader Thursdays
- Viral Marketing
- Website Design
- WMG News & Press
August 20th, 2009 at 5:09 am
It’s not a “good thing” for the businesses that have failed.
Steve
[Reply]
August 20th, 2009 at 11:28 pm
You are correct, Steve. It’s not a good thing for the businesses that have failed, but the fact of the matter is that some are going to fail. And that will happen in good times and bad times. It’s up to the businesses that survive to use it, and any other opportunity, to their advantage.
[Reply]