How many times a day do you now hear these words now, ”the economy is really hurting our business”? Sometimes, there is some truth in those words, there are businesses out there having a tough time getting ahead because their customers are buckling down and not spending like they used too. Other times, it’s just an excuse of why they are losing business when the real reason may be due to the fact that they weren’t that good at what they do. This may sound harsh, but how many times have you walked into a restaurant, store or business and been unsatisfied with the service, the product or the cost? I’m sure we can all name a few just off the top of our head. If that business closed tomorrow, would it have been the “economy” or the plain hard truth the business failed to perform?
I recently saw a news segment on a downtown restaurant that said it was suffering due to lay offs and furloughs in the downtown area. I won’t pick on this restaurant by giving their name, but I once visited this restaurant and all was going well until we ordered dessert and it took 30 minutes arrive (over the lunch hour). I’ve not been the only person complaining about the restaurant, I’ve heard many grumblings that the restaurant food and service was sub par. So, does that company have the right to go on the news and say the economy is hurting their business? If that restaurant had rave reviews and people all over town were talking about it, I tend to believe the downtown layoffs would not affect their bottom line.
So, in conclusion, BE THE BEST YOU CAN BE in your business. People will notice and people will choose YOU over your competition. If you dominate the marketplace, then the economy should not hurt your bottom line. How can you be sure you are being the best you can be? Hire secret shoppers, survey your customers and employees, hold focus groups, listen to your customer, shop your competition, and read about other successful businesses. Good luck and remember…only the strong survive.