Friday, June 15, 2007

Business Development: Hong Kong is a Great Place to do Business Part 2


In Part 1, we talked about there are 3 major causes why a business failed. These are not the only causes of failures, but they are the most common ones. Here are them:

1. Marketing. Many people hate doing marketing. They have great products but not too many people know about them. Marketing is not just advertising. Anything that attracts your target market to you is marketing.

2. Innovation. While Marketing make you successful at the present moment, Innovation creates success for your future. People wants new products. But Innovation is not just about creating new products. People also wants new ways to get your products. People wants new means to know about your products. People wants new ways to pay. People want new ways to use your products. We also need new strategies, new business models or even a new business to survive and prosper. The world is changing so fast that every parts of our business need to renew continuously!

3. Service. Anything that makes doing business easier with you is Service. Service is not just limited to polite, tactful communication. Service can't create more customers and business. It just makes it easier for your customers to do business with you. You still need Marketing to attract customers to your Innovative products.

We are need a systemic, bigger picture view of these 3 vital elements of doing business. Marketing is not just advertising, Innovation is not just new products, and Service is not just politeness and tact.

All the above 3's are not new stuff. Everybody knows that they are necessary. But how much time and effort have you devoted to them?

Explore, Exceed & Excel