a beautiful woman marketing a product

3 Ways To Fix Your Dying Business

Re-branding Yourself

So many companies get caught up in their own story, the fact that they were successful in the past has no bearing on their success in the future. If you don’t evolve in today’s world then you die. Just look at some the major brands like Coke, Ford or even Apple, all of these companies look to be on the same path they started out on but look a little deeper and you’ll be surprised. While Apple has focused on evolving their products to transform the way the world works, Coke has focused on transforming the way that consumers see their product and how it fits into their lives. The one consistent thread they all share is change…

https://www.shopify.com/blog/61023685-5-ways-to-jump-start-a-dying-business-and-5-businesses-that-did-itA rebrand isn’t generally the first thing business owners think about when sales start to plummet. But sometimes, when products and business aren’t positioned properly, a rebrand is necessary to solve that problem.

A rebrand that will successfully jump-start your business isn’t going to be as simple as changing your logo. Your entire brand’s approach to how it positions itself in the market will need an overhaul to see a major impact.

An example of this is Old Spice’s rebrand. Before 2003, the men’s deodorant market was pretty docile and the marketing was nothing like it is today. When Axe began to successfully position themselves as the scent that women couldn’t resist, Old Spice, a failing brand at the time, had to reinvent their image. Read more…

When You Try To Stetch Too Far…

This happens a more often than not when we see brick and mortar businesses try to take a leap from local service to marketing a product or service online. If you think you will be able to sell the world on dodge challenger racing stripes
your brand overnight then you’re dead wrong. Start with what you know, for instance this local pin-striping company turned it’s service into a kit and only started with a few products for a dodge challenger then built from there

When a business owner tries to do too many different things, it can cause the business to stretch itself too thin.

In other cases, a lack of focus could mean the target niche is too broad. When your target customer is “everyone”, it’s really nobody. This is why getting really specific with your target customer is important. Do you really know who your customer is?

If you do, does your business lack focus? Is it trying to do too many things, or be the best at too many things?

In 1996, after operating at a financial loss for years, Steve Jobs returned to a failing Apple. What Steve Jobs saw was that Apple was losing focus and was involved in too many projects. By 1997, Steve reduced Apple’s product line from 350 to just 10, killing off many projects including the promising Newton project, a project that drained $100 million from Apple according to Cult of Mac. Read more…

When You’re Playing Too Safe!

Finally don’t be afraid to take risks, it’s never going to happen if you don’t reach for something. A lot of people are scared away from investing money into their business because they don’t know if they will see a return. If you do your research then you most definitely. Check out our post on how to choose the right seo company.

Many business owners believe that during a time of crisis, their best option is to play it safe. This couldn’t be further from the truth. Taking bold risks is often the best course of action to save a dying business.

When you think about it, you have a lot less to lose when your business is nearing its end. You’re much better off trying new and crazy things than being conservative. Read more…