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    1 Reply Latest reply on Dec 7, 2010 12:47 AM by TheSoloGuide

    how to sustain the business now

    solcontrol Newbie
      I started my business in year 2000. My product price was very good and the quality was very high as compared to the other branded products. I did not have any brand name. People did like the price and the quality but i could not sell much because of a non-brand item. In next 6 years i could get some clients to accept the product because of the quality. Now since the economy went down the same people are now asking for cheaper product and not paying attention to the quality.

      In last 10 years i could not really suceed because my product is of very good quality so hence it does not cater to low end and it is not branded so it does not cater to the high end. How do i go from here

        • Re: how to sustain the business now



          Without knowing more about your business, I will stick to some fundamentals.


          Pick a target audience. Don't try to straddle to very different target customer bases unless you have multiple solutions for the same general problem. For example, BMW offered the 3-series for people that wanted the quality and the prestige of owning (or leasing) a BMW, but at a relatively economical price, while the 8-series loaded with options meets the demand of the higher paying driver.


          Do your market research to see the who, what, where and why of your target market. You may find that you can modify your business to service one market very well, while letting another market go.


          Make definitive choices based upon your strengths, your experience, and the opportunity within the market to meet your goals (personally, professionally and financially).


          Best of luck!




          The Solopreneur's Guide