How To Increase Your Business In Turbulent Times Using the Internet
Malaysians are lucky in that most of us do not feel immediate adverse effects of the Iraq war. Here are the 3 steps we can take to counter any such adverse effects:
Step 1 - |
Don't panic. Stay calm or otherwise our brain cannot function well to give us a creative solution. |
Step 2 - |
Assess the situation. Evaluate the potential effects of the war on your business. What is the worst that can happen? |
Step 3 - |
What can be done, within the next 7 days, one month, 6 months, and one year to alleviate the adverse effects. |
There are 3 ways to increase your income despite the war:
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Increase your channels of sales
If you are not already using Internet as a channel of sales, you should be actively pursuing this option as a new channel of sales. Our client www.eFlowerCottage.com is now receiving orders regularly from the website, in additional to their physical shop in Phileo Avenue.
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Expand your business regionally or globally
Again, if you are not already using the Internet to transact business with the regional or overseas market, you are missing the boat. After all, the economy of many countries are not yet affected by the war. Our client www.AirCoast.com receives orders from Canada, US, Russia etc for his US$90 skating shoes.
If your type of business is restricted to the local market, then you should consider the option below
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Diversify your business
Most of us understand this: Don't put all your eggs into one basket. However, many of us are so emotionally or financially attached to what we are doing that we don't bother to think about creating additional sources of income with the excuse that we have no time or no money. |
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