A few years ago my entire online business collapsed. I was in a market that went through a massive shift – it disappeared.
A market shift is not an aberration, it’s an inevitability. You can either prepare now or watch your business collapse when it happens to you.
Where Did the Market Go
Every few years, news broadcasts are filled with omens of doom and news of a new plague or pandemic.
Normally, we don’t really pay attention to these tales of danger.
But let’s imagine that you are in the safest niche possible.
You help people to train their dogs.
Great space and very profitable online.
But then a new disease is discovered that can pass from dogs to humans.
In a single second, your entire business is gone.
You didn’t see it coming because it’s so unlikely and now you’re broke.
This is just one a million ways that this business could disappear.
Another possibility is that dog attacks go on the rise and the government changes dog licensing laws.
Or they decide that all dog trainers must be licensed in the state.
Suddenly you can only sell products in one state instead of forty-nine.
Unlikely Doesn’t Mean Impossible
Life is full of surprises.
Governments change, business adjusts and customers move on.
If you don’t prepare for the coming shift, you could be in big trouble.
The good news is that it’s not too hard to adjust.
A very simple strategy will ensure that your business grows while your competition withers away….
- Don’t let your offers go stale
- Try new offers and mix it up
- Ask people what they want and give it to them
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