Are You Trying To Solve The Wrong Problem?

Are You Trying To Solve The Wrong Problem?

One subject most business owners ignore is ‘business re-invention.’ But looking at your business from a different light can be the most profitable thing you can do. If you haven’t noticed Subway is no longer in the Sub business. They are in the weight loss business. How much are people prepared to pay for that? Who’s the competition? How many weight loss quick service places are there? Not much competition once you’ve created a whole new category. Many restaurant owners refuse to see that people are spending more money eating out but how they want their food served. For restaurants, it’s catering, takeout, drive Through etc. Yet some business owners stubbornly ignore this fact waiting for customers to come and spend an hour and a half they don’t have.

Here’s another great example. Misty Young, owner of The Squeeze In learned about a new Food Network Reality Show looking for restaurants to feature. Misty herself was on an episode of Bobby Flay’s Throw down. Great for her business and will be for years to come because Misty takes advantage of all the publicity she receives. Would you make an attempt and apply for opportunities like this which are great publicity and will increase sales? Some people when confronted with an obvious great opportunity will refuse to take action because they are so emotionally attached to where they are going.

No one likes admitting they have invested time, energy, and money going quite a way down a path that leads off a cliff. No one likes turning around. Too many are so emotionally invested; they can’t face reality and act accordingly. As a result they proceed to solve the wrong problem, or use the wrong solution to solve a problem, all resulting in being horribly unproductive. Lots of very successful business led by very successful people make major mistakes. FedEx launched Zap Mail right before the FAX machine wound up on every desk. Fortunately for FedEx stockholders, Fred Smith was not emotionally committed to that business idea.

I often deal with clients trying to solve non-advertising problems with better advertising, non-marketing problems with better marketing, and then preferring shooting the messenger to any other solutions.

Take a moment to evaluate where your business is going. Do you need to go in a different direction, change course, put your self out there, and make bold steps?

Dedicated To Your Success,
Rory Fatt

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