The chiropractor has fewer patients so he doesn’t invest as much in training or staff and so other patients choose to leave which means that there are even fewer patients.
The television station has fewer advertisers, so they can’t invest as much in running stories, so people stop watching it, which means advertisers have less reason to advertise which leaves less money for stories.
The bait shop sees a decline in business, so they have less money to spend on upkeep and inventory, so they keep the bait a bit longer than they should, so of course, business declines and then they have even less money. Eventually, you have an empty, smelly bait shop that’s out of business.
Many businesses hunker down and wait for things to get better, but they don’t. This isn’t a warning sign, it’s a dead end street. You can’t shrink yourself to greatness.
Right now, you still have some cash, some customers, some momentum. Instead of wasting it in a long, slow, death spiral, do something else. Advertise. Move. Find a New Product or Service. Just Do Something. Find a way to keep the customers that still trust you.
Change is a bear, but it’s better than death.
Tags: Advertising, marketing
