If you’ve been in business for a while and sales and service requests have dropped, it may be time to re-focus, re-think and possibly re-brand.
A friend found that her original business slowed tremendously. She started thinking about re-branding – starting with a new name. Her immediate concern was if people would know her by the new name. What if current clients couldn’t identify with her? After careful consideration, she decided to start a different company – with a new name – but providing the same services and adding on a few new ones.
After a few months of sharing this new identify on the Internet, specifically Twitter, LinkedIn groups and other group forums, she began receiving random inquiries. As time went by, her business has picked up even more.
Sometimes, you have to leave your comfort zone in order to focus. Sometimes, in order to be successful, you have to seek out other relationships besides friends and family members. One mutual friend, I’ll call her Dana, was able to experience a rise in new business – merely by changing her identify, re-branding and marketing herself to a different audience. Below are six tips she shares about the process:
- Get out a piece of paper and write (yes, I said write) down your current business name on one side, draw a line vertically down the paper and put your new business name on the other side.
- Under the current business – write down your products and services and other offerings. Then duplicate that under the new business. If there are any aspects of the current business that won’t be included in the new one, don’t write it. Under the new business, if there are new services/products you want to offer – include them.
- Under the new business – write down Twitter and Pinterest. (Dana didn’t include Facebook or LinkedIn, but you may want to consider those as well).
- Also under new business – write down several domain names. Keep them short and sweet so prospects can find you. It also makes your email address shorter and easier to remember.
- Now, register for a new Federal Tax ID number and register with the state in which you do business. You can also revisit the SBA for opportunities you may have missed the first time.
- Lastly, purchase your new domain name and hosting. Find a reputable web developer to design your new site.
If you’re in a business slump, it may be time to do what Dana did…look beyond your comfort zone – your hometown, friends, family and former clients. The World Wide Web is open 24/7. If your business is one that can take advantage of something new (and most are), then think about re-focusing, re-thinking and re-branding. You may be surprised at your results.