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Effectively Competing in a Recession

Are you thinking of going into business during this recession? Business success is still being met in this economy, but you want to think through what will work now and going forward into what many are calling a new economy and new customer. Successful start ups have Marketing Plan that are very customer centric right now and will continue to be going into what many predict will be a lackluster economic recovery. Also many successful businesses are very niche oriented right now, serving the needs of very particular customer groups very closely with a customized or highly matched type of product or service offering.

Here are a couple of examples which can get you brainstorming about your business and whether you are on the right track for sustained success not just in this recessionary market but the uncertain economy to come.

Save People Lots of Money

A successful start up right now is BillShrink. As Small Business Consultants I would think this business will continue to be successful going forward because customers are much more price conscious for the features of the product or service they buy. BillShrink matches the features you need and the price savings of other cell phone plans, TV packages, credit cards, savings rates, gas and so forth. The service shrinks budgets and gets customers exactly what they need. It puts the customer in firm control.

Success Keys: Timely, Customer Centric, Gives the Customer Power, and Highly Customized to the Customer.

Have a Strong Market Niche

Florence Henderson has come up with a sure winner in the FloH Club. It is phone support for seniors to help them get through the complicated world of computers and the internet. This strong customer service business helps seniors navigate the web, find things on the web, pay for things on the web, bank on the web, set up their computer, troubleshoot computer problems, set up a computer network, set up email, learn about Facebook and more. Available 24 hours a day, every day of the week.

Success Keys: Targeted Niche, Customer Centric, Empowers Customers, and Highly Customized Services.

Resource: For more help marketing and growing your company, please see this article:  How to Write a Business Plan .

Implement in Your Business

Successful businesses going forward are highly niche and customer centered. Providing customers great value for a highly customized service is a theme that is taking hold for successful businesses in this current recession and predicted to do well going forward. Whether you are a start up or not, the principles can be applied to any business to keep your competitive edge.

This article is written by Frank Goley, Business Consultant for ABC Business Consulting.

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