Michael Newman’s latest ‘e-Wealth Daily’ article is titled “How to Build Your Business Face-to-Face with Your Customers”. [‘e-Wealth Daily’ Article]


Michael Newman’s latest ‘e-Wealth Daily’ article:

How to Build Your Business Face-to-Face with Your Customers

Sometimes, in order to grow your business, there may be more risk and work required than there was to start it up. I know it sounds crazy, but it’s true.

The other day I was talking to a younger colleague of mine. He runs two businesses and is based out of Toronto, Canada. Since he started his first business roughly six or seven years ago, he has experienced success, which led to the development of the second idea. Through the second business, he and his partners have experienced plenty of success as well. However, if they really want to go to the next level, they’ve now got to sacrifice and take some risk, which is exactly what they’re doing.

You see, their business has reached somewhat of a boiling point. It got to the point where they were getting too many orders for them to fulfill on time with their current manufacturing and resources. Therefore, to keep up, they need to expand their operation — something that costs lots of money.

In order to raise that money, they were going to have to cut their salaries, look for investors and try to procure more customers. You see, the more customers they had, the more they could increase their operation, thus making it cheaper and more cost-effective overall.

Instead of calling and e-mailing people, however, my young friend decided he would go meet customers all across the United States over the period of roughly a month. Here’s his schedule: He left Toronto about a week and a half ago and drove to Detroit. From there, he went through much of the Midwest. He hit Illinois, Indiana, Ohio, Kentucky and a few other states that currently escape me. In about a week, he’ll return to Toronto for a few days, regroup, and head out on a plane to Las Vegas. He’ll go to a trade show there, then be in Arizona, California, Oregon and Washington. A week later, he’ll make his way up the Eastern seaboard from Florida to Maine.

All in all, he would’ve logged some serious miles and spent some serious money in his attempt to further grow what is already a successful business.

If his meetings don’t turn out as he’s hoping, however, he and his partners will be forced to make some tough decisions with their business. Do they sell and walk away? Do they forget about growth and simply maintain the status quo? Or, do they take the risk and expand anyways, knowing they may be in the same costly position sometime again in the relatively near future?

Once things are up and running, there is still plenty of risk associated with running your business and trying to grow. As an entrepreneur, you will likely never be satisfied and always be looking for ways to improve. Having the will to take the risks and put in the work associated with growth is an essential part of being a successful entrepreneur.

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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