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    2 Replies Latest reply on Aug 15, 2010 12:23 AM by wordperfect

    Strategic development - looking for comments

    markjl Adventurer

      As a small business owner working on my own, I'm finding
      one of the 'big' difficulties is isolation, in that I dont have anyone
      to bounce ideas off. Herein my reason for posting as I've been working
      on some strategic development ideas but really need a sounding board for
      whether they're feasible.

      First some background: I run a
      digitising business Although its all in French, I take old
      films, everything from super 8 to mini-dv and put them onto dvd.
      Business is slow. My first reaction is to diversify into other related
      business lines to increase turnover, but getting away from core business
      means spending time and effort at the risk of taking my eye off the
      main game. And there may be things to develop there too.

      Either I
      can add formats that I dont do now (V2000, beta, 78 disks, audio etc.)
      or create value added services (disk copying, volume document archiving,
      saving to mini-dv)

      Or I can develop the video editing business,
      or the commerce business (selling hardware, accessories, media). But all
      of this takes time and effort and money.

      I have a new e-commerce website in development which is a must for core business. No real questions there.

      there is the question of market. My customers are mainly private
      individuals with home films but what about the professional markets?
      Again this needs a different accent on promo material, brochures and
      presenting (new) services in a professional way, mail-outs, promos etc.
      In either case, the pro market is a different ball game.

      On the
      core market the aim has been to reduce costs and prices to propose
      low-cost high volume offers, again a strategic choice in line with much
      of the competition.

      The final question, I guess is diversify or
      not and if so, what are the best areas to get into. If not, how to
      improve the current offerings and keep afloat.

      If you have any thoughts on that, much appreciated. Regards, Mark
        • Re: Strategic development - looking for comments
          LUCKIEST Guide
          Strategic development

          Mark, Go to Members page and share some info.

          If you are looking to "bounce ideas" let me know how I can reach you.

          <!--Session data-->
          • Re: Strategic development - looking for comments
            wordperfect Scout
            Hi Mark, I second what lucky has said, if you share some info and "give" a little folks here are more inclined to give back.
            It's never a good look to join a community and dive straight in with a question or cry for help.
            It's a hard mean world and business is even tougher.

            I can't offer much "real" help as I am not familiar with your business, but may I offer an analogy that may help or clear up some confusion.
            I am not being sarcastic, but you remind me of a blacksmith a few hundred years back, maybe less! who HAD a good biz with horse shoes but is noticing more and more cars and less and less call for shoeing. he is wondering if he should move into auto repair but that is:
            getting away from core business means spending time and effort at the risk of taking my eye off the main game

            You don't see too many blacksmiths on GOOGLE these days.
            Nor Coopers, in fact, there are many professions that have died or are no longer an economically viable proposition.
            Maybe this is something to consider?

            The other thing is, and again, please forgive my bluntness, your post doesn't seem very enthusiastic, where is the gung ho entrepreneurial can do spirit that is needed to make a success out of a small business?
            it strikes me as very pessimistic and negative really.
            You talk about isolation, fair comment, but the world aint going to come running to you, you need to get out into your community join clubs, visit places, get some "feel" for what is really happening.
            Be proactive.

            Your language would seem to indicate that maybe you are an older citizen like me! with a good education, a quieter more analytical thinker and maybe not used to the aggressive or even assertive style needed in small biz today.
            Yes, you have a lot of questions, and maybe someone here will give you answers, but that is just THEIR opinion, you need to get out and do some real, hands on research so you know the situation better.
            Then you can sit down and redraw your business plan and decide where you are going.
            Finally, when your head is clearer and you know the situation and have a solid biz plan, get hold of LUCKY again and score!

            I know this isn't what you wanted but maybe it gives you a ref point to go from.
            WPBeijing China Marketing