Product based company vs service based company in a downsized market.
I've been an Entrepreneur since 2002. I was wet behind the ears with only a clue on what to do.
I've been around the marketplace well enough to pay attention to emerging trends and things to avoid while making business decisions.
I'm able to see saturation periods, stagnation in the utilization of various technology, and buying trends of the average consumer.
I saw signs of the recession coming way back in 2005, and by 2007 my assumptions were right.
I knew when gas prices would begin to rise and fall. I knew that google stock would more than triple it's value from the asking price of $53 on its initial public offering.
I knew that the film industry would continue to grow in Atlanta based on certain developments in technology and the surrounding area.
From years of self study on marketing and sales, I can tell you that providing both services and products will be your best bet if you want to raise your financial status during this era.
I would devote time nurturing 60% efforts towards products sells and 40% to the sell of services.
The product you choose to sells should be in an industry that's growing during this era.
When consulting with Engineer firms, monitoring related services were the first thing to go when budget cuts were needed.
The same would apply to any other setvice related industry. In most cases, companies will investigate their current talent pool or staff to determine which members could perform those service related task from in house.
If you are a small business owner, it's more important for you to manage your time wisely. Every seconds counts towards your bottom line. Finding the perfect balance between prospect, sells, and customer retention is vital for a full time small business success.
Pree Dammond
It Works Executive Distributor
Business Development
Http://Preewraps.com