Overcoming “The Dip” as an Entrepreneur

in Forum: Marketing
Source of this discusssion: /media/episodes/3820/RD-July-7-2007.asp Page description: In our interview with Seth, learn how The Dip sheds light on scarcity, being the best at what you do, and effectively determining if you're just slogging through the tough times on your way to success or stuck in a no-win situation.
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Oct. 05 2007 at 11:49 AM
No Photo Posted by: lucky11

As a high end custom furniture maker , self employeed for over 28 years. I seem to be constantly either in a dip or coming out of one. What is the secret to maintaining a constant flow of exciting new pieces, and reaching new clients?

Oct. 05 2007 at 3:46 PM
nhgnikole Posted by: nhgnikole Sunbassador
You don't. I think that is a myth.

Everyone struggles to stay on the cutting edge of things. Highs and lows are the reality of doing business!

That being said ... planning is crucial. There is a great interaction between sales, development, and marketing ... and making these all dance together in the most efficient, profitable way is always the balance every entrepreneur has to make.


Edited by: nhgnikole - Oct. 05 2007 at 3:47 PM
* Bad Habits
* A True "Lifestyle Business"
(from Small Business Essentials)

writing | marketing | web: NHG Consulting
Oct. 05 2007 at 5:51 PM
No Photo Posted by: lucky11

Can you expand upon the interaction between developement and marketing. The sales are not as important, if I have done my job they take care of themselves pretty much.

The finished product is on the highest level in the U.S. The problem seems to be finding the most effective way to reach and get the attention and interest of the prospective Client/Designer.

thanks

Oct. 05 2007 at 6:20 PM
RabbitMountain Posted by: RabbitMountain
lucky11 wrote:

What is the secret to maintaining a constant flow of exciting new pieces....



Lysergic acid diethylamide... oh wait, wrong board...

Seriously though, if you are asking about maintaining a high level of creativity you might want to check out a book called The Artist's Way. I first read this many years ago and to this day I still carry some of the things I learned from it around with me, for example, the importance of getting OUT of the studio so your brain can get recharged with sights, sounds, smells, etc., that form the building blocks of new ideas. It's a great read and offers a lot of exercises and such to help get ideas flowin'.

-Paula

Rabbit Mountain, LLC, print and digital communications
• NEW! The Sustainable • Local Centre County Shopper's Guide
Oct. 07 2007 at 1:26 AM
CraigL Posted by: CraigL
LOL! RabbitMountain.... :-) I was gonna suggest a prescription for Tri-Forgettin IT, a new drug I heard about in an advertisement on the Rush Limbaugh show.

In all seriousness, though. I think two things could be helpful in terms of the so-called dip. The one is to widen one's scope to annual income, instead of maybe monthly or seasonal. Think of annual revenues, and only calculate your position at the end of your fiscal year.

The other is stability of product, brand, and services. I disagree strongly with the seemingly modern trend of having to always change everything, regardless of if its working. That's catering to the zero-attention-span crowd of young folks who've grown up with ADD and 30-second sound bytes.

If you have a good product that's still relevant to the everyday world, then keep it in the public awareness with a strong marketing and advertising strategy. There's a lot to be said for casting a line into the water and letting it sit for quite a while. Fishing isn't always about running here and there, trying different lures, and moving to another location every 10 minutes.
Craig Landes
---
Defining the undefinable. "There are 10 kinds of people in the world---those who understand binary numbers and those who don't." - Unknown

International Society of Curmudgeons
Oct. 07 2007 at 1:13 PM
nhgnikole Posted by: nhgnikole Sunbassador
Well, I am always on the lookout for ways to expand myself or shift focus. It is a constant process of evaluation of my current services, watching trends, and making that decision for myself.

With that, it's important to have a marketing schedule. Not just what I am going to market, but how I am going to market it, when I'm going to market it, and what path will it follow. This could be based on seasonal timing, product releases, whatever the case may be ... you need to think of ways to keep something fresh and don't dump all your marketing eggs in a basket. For example, if you are doing a lot of PR for your product, don't get into 7 magazines in one month ... space them out so that you can spread that benefit over the course of 7 months.

Most small businesses underestimate how time consuming marketing and PR is. Some spend a majority of the time marketing their business instead of working in it!

I will also make a comment on things "selling themselves if you do your job right" ... don't discount the benefits of the sales funnel. It is important to follow through all aspects of the sales cycle -- prospecting, making the sale, and then following up. One sale is not going to keep your business going, but a happy customer who will be a repeat buyer and/or give you referrals does. So it is important to keep your customers cycling through your sales long after that one sale is made.
* Bad Habits
* A True "Lifestyle Business"
(from Small Business Essentials)

writing | marketing | web: NHG Consulting
Oct. 08 2007 at 3:54 PM
No Photo Posted by: lucky11
How do I develop/ purchase a mailing address list of selected  high end  individual interior design firms in the Pacific Northwest ( from San Francisco- Seattle). With the principle designer's contact name.
Oct. 08 2007 at 4:16 PM
No Photo Posted by: micsimonian

luck11 

There is great website called http://www.infousa.com/ you will find good things

www.legalcpu.com

is an online document preparation company that offers professional services.
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