Carving A New Niche For Your Business

Because Halloween is almost here, there has been a lot of talk about carving going on. As part of the yearly tradition, many Canadians carve pumpkins in order to turn them into jack-o-lanterns that adorn their porches on Halloween. While it’s likely you may be doing some carving of your own in the days to come, the whole concept brings to mind a completely different version of carving.

Might it be time to carve a new niche for your business? If you’ve been noticing somewhat of a downward pattern when it comes to sales and customer base development, it’s worth considering adding a new wrinkle to your brand. Which advertising techniques have worked for you and wish ones have failed? What differences can you make in order to improve how things are going?

Understand your motivation for change.

Before any changes are made to your business, it’s integral that you consider the reasons you want those changes. Are they strictly profit-based? Or are you feeling a bit burnt out when it comes to be being a professional in your specific industry? Making a brand change is a big deal. It’s important that you find the “fire” you may have lost when re-launching your business.

“Revamping a brand can be a big undertaking for any business,” explains Shawn Graham of Deep Varnish on Forbes.com, “Before you make any changes, you want to understand the motivation behind the move. Is it based on feedback from customers? A change in strategic direction? Your brand is more than a logo design. It captures the essence of your business and shapes how you are perceived by current and prospective customers. Make sure you get it right.”

Clearly outline your future goals and expectations.

So what’s the plan? Before you take a single step forward in making changes to your business, it’s vital that you clearly define your intentions. Will you be offering new services in addition to the products you sell? Or will you be completely changing your product line in order to cater to the needs of an entirely new audience? Do your research and carefully plan out your next moves before doing any moving at all.

“Your personal brand along with your reputation is all you have,” says Jessica Miller-Merrell of Blogging4Jobs in the same Forbes article, “As people’s career, goals and interests change, I’d talk to my client about what they want out of their career, their personal and professional goals and then build a plan to help them get there. The important fact is determining how they want to be seen, how they are currently being seen and the long-term steps to class get there.”

Take those all-important first steps in making the change.

“The solution is to create a detailed exit strategy,” insists Jason Daley on Entrepreneur.com, “Allow time to negotiate new leases, bring on new employees or train current employees. Be transparent through the whole process with vendors, customers, employees and, most important, your family. Give everyone notice that changes are coming, when they will happen and what it means for them.”

If you’re a cash-only business, there is a vital change you should make right away. Begin accepting credit cards and debit cards with the Poynt Smart Terminal! For more information, call Canadian POS at 1-877-748-2884 or email us at info@cdnpos.com.