Mid Year Market Evaluation

How is your year going so far? It has been three months since my last post and that is too long. Business has been busy and good. Yes the market is tough and price sensitive as I am in services to the oil and gas business. How is your business going? If good what can you do better? Improve marketing, solidify relationships with your major customers, connect better with your vendors? What about other markets? Up or down from your customers? Geographically are there opportunities?

It may be you are in a stable and solid business environment and if that is the case well bless you and keep it up. However, most of us do not have that luxury as the market is constantly moving around and we need to move with it. That generally means that you have to know what is happening in the market. To do that, are you talking to customers, competitors and vendors yourself or relying on others or maybe even the media. Do you really want to rely on them for your future and as the input into the market side of decisions? I would not think so. Now you can do email campaigns and get feedback from them, regular mail campaigns or even promo campaigns to create activity, interest and dialog. Probably the best is the most tedious, go face-to-face. People tend to respect your efforts to visit and are more likely to provide more and better info that are all important in the decision process.

So the best choice is to either visit or talk with them yourself. Who will know what you need or hopefully understand your business and market better than you. So use these time to reach out and get the handle on the market now…. Be upbeat and positive in your approach. There are always opportunities, the real test is do we want to try them…. Do you?

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