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Economies by their very nature are dynamic; here in the United States our economy has morphed from agrarian to production to service based, and though we all know this, what we may not fully comprehend are the side effects of this change.
During a discussion last week with a good friend from Merrill Lynch, it became clear that regardless of what service you sell, the competition has become fierce in recent years. The explosion of individuals and companies marketing the same services, because of this multi-decade economic shift, is ultimately causing every service to become commoditized. How much is your commission? How much do you build a web site for? How much do you charge to prepare a tax return?
Therefore, only those that differentiate themselves from their competition will have any chance of success. But how can we do that? Remember, doing nothing and hoping for the best, is actually making a decision, and it is a decision for failure. One of my mentors Paul Feldman said it perfectly in a comment to my last Blog "...any [businessperson] worth their salt can't afford to ignore the barrage of newcomers coming up behind them riding their tidal wave of self-promoting, sales generating, ultra-networked cutting edge-technology."
So, instead of waiting for customers to walk into your shop or restaurant, or hire you to be their attorney or accountant, what can you do to become ultra-networked, and start generating more business? If you now agree that you must be proactive, what can you do?
Answers coming! Specific ideas on marketing your business next time.
Thanks for reading my rant...
A recent post on Mark Cuban's Blog here talks about the Internet being "dead" and a "utility," that actually can be a "hindrance to productivity in the workplace." Wow, that's quite a statement. Though I agree that the Internet has become a stable entity, and yes, even a utility, can we imagine business without other utilities such as electric power, or the telephone? Cuban goes on to say that pundits had in the past stated that technology will carry us through our economic doldrums, but not this time, as they are not to be found by him.
While Web 1.0 may have enabled larger, deeper pocketed companies to capitalize on the sheer innovation of the Internet, perhaps Web 2.0 is better suited to drive economic growth from a smaller standpoint. As technology trickles down to, for example, instead of reactive selling, where a merchant waits for a customer to enter their store, the merchant who properly positions and markets his company, can reach out to customers world-wide, fueling economic growth at a grass-roots level. Speculation? No, reality, that we as a web development company see every day. Therefore, the Internet, used properly, is a tool that fuels the economy. Remember, e-commerce only comprises 2.6% of total U.S. Retail Sales.
The business is out there, you just can't wait for it to jump in your lap any longer, it's online and you have to go get it--or your competition will.
As the initial post here on the Webvantix Blog, I thought it appropriate to discuss the nature and purpose of this website and this space, as it will most ceartinly be evolving to best serve our visitors.
When conceiving the newest incarnation of Webvantix's website our purpose was to deliver much more than just a website design product. Our idea was to enable our customers, as well as all small business owners, to find a medium that promoted their websites and their businesses--essentially, to get noticed.
So, in addition to growing our site to further showcase our talent as well as highlight our customer feedback, we are working hard to launch VisBizz, our free, small business network.
The idea is simple: Businesses create a profile based upon their company, upload a screen cap of their website that acts as a link to their website, describe the who, what, where, and most importantly, the why of their business. Finally, share this information with the world via the network, and ultimately drive more traffic to their website. Traffic is good.
Much more to come...
Our team is excited about the future, please join us.
J. Preston Ehrler, President, Webvantix