California Is Last Out of 50 States in Well-Run States for Business...But There Is A Silver Lining
This text is from our consulting firm's latest 321 Biz Development episode found on 18 podcast platforms. There is too much content to write for this article, so readers are referred to the podcast for the complete story.
The truth is it takes effort and leadership to be number one in anything.
The motivation for this article and podcast episode comes from a recent article from California Globe.
The article and episode content is about what it takes to generate revenue in a business environment where achieving success is close to finding a needle in a haystack. For my international readers, the idiom "finding a needle in a haystack" is something that is very difficult to find or locate.
This post is about how to deal with a near-hostile business environment. Let's look at some challenges that currently exist in California and probably New York impacting revenue growth and some possible solutions.
Challenge: Smart money is leaving the state
Solution: The remaining businesses will, statistically, have less competition. Here in California many large companies have left the state. The good news is small businesses generate as much as 88% of the state's gross domestic product.
Challenge: A significant percentage of the population of impoverished residents is growing
Solution: Small businesses must work smart and hard to identify prospects who want and can afford products and services.
Challenge: State taxes and regulations impede profitability.
Solution 1: Take control of your marketing your business to the public. Many small businesses invest a disproportionate amount of money on marketing campaigns that do not work.
Solution 2: Many businesses do not market their products and services because they understand that marketing campaigns do not work. Therefore, small business owners must take control of the five front-end sales activities, which are: contacting, prospecting, appointment setting, closing and getting zero-cost referrals.
What if your small business is not in California or New York? There are two answers to this question.
If your business is not in California or New York, then your business environment is now where California's business was in the 1990's. Work hard with your local leaders to ensure the business environment stays healthy.
The interesting thing about sales is the same work must be done regardless if your state has a booming economy like Florida and Texas or a bust economy like California and New York.
Texas and Florida, according to the California Globe article, might have the #1 and #2 economies but this fact just means more companies are pursuing the same customers. Bust vs boom, work must be done to build your business.
321 Biz Dev LLC can help any small business owner succeed if there is business to be done.
If this episode/article provoked some deep thought about improving your sales performance, please do not hesitate to contact me, Rick Nappier, at 726-999-0999.
Interested parties can click here to visit our website. Then, click the Questionnaire tab to complete the 5-minute questionnaire so 321 Biz Dev can learn more about your current sales situation or learn about your current or past experiences with trying to improve sales performance. A 321 Biz Dev specialist will contact you within two business days to review your responses.
We hope your enjoyed today’s post and linked podcast episode. Please check out the podcast episode for a lot more content on this subject matter.