How to Thrive In Today’s Economy

Spa_man
If you take a look at the
photo of me to the left, it is pretty obvious that I no longer have a need
for a hair stylist. Neither does the guy in the photo to the right.
But, he’s spending money at a spa. I learned something interesting
about the spa and hair business last week.

I
was having lunch with a good friend and we were talking about business
and the economy when she said, “The hairstylists and spas are really
doing well right now.”

I
almost dropped the piece of sushi I was about to eat. I asked her where
she heard that and she told me that she has been told by several people
she knows who are in the business. It seems people are spending money –
more than ever on their hair, facials, pedicures, manicures, massage,
coloring, etc.

I
thought “Doesn’t this go against what the economic “experts” are
saying?” Money is tight. People aren’t spending. The price of gasoline
is killing home budgets.

These are discretionary services that nobody has to buy.

I
asked my friend if she had any idea of why this is happening in an
economy where people supposedly have no money to spend on such things.
She said the people in the business think that people want to feel
better when things get difficult and that they will spend money to get what they want and feel they need.

Many of the businesses she knows are expanding and offering more services, locations, and custom pampering.

It’s
sales and marketing 101. Find out what people want and need and supply
it. We have always had ups and downs in our economy and we’ll have
plenty more in the future. Some businesses will thrive during a down
period because they will continue to invest in their marketing and
sales.

Now
is not the time to cut marketing costs. Now is the time to take a good
look at what you provide to your clients and determine how you can do a
better job of delivering it. Now is the time to take a look at the
people in your organization who interact with the customer and help
them get even better.

Now is the time to pamper your customer. Make them feel good.

Give them what they WANT and NEED!

The above article is reprinted from this months issue of The Guru’s News. To receive your own free monthly copy click on the link to my website at the bottom of this article. Once you are on my website, please click on the Big Blue Button “Sign up for The Guru’s News.”
Thank you.

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