Anyone in small or medium business knows that external circumstances are always present and are constantly having an impact on business. Rising interest rates, competition, weather, parking regulations, seasonal fluctuations… The list is endless and therein lies the challenge for business – how to prosper in spite of these seemingly uncontrollable influences. The key lies in finding clever marketing based solutions to the problem.

Broadly speaking, external circumstances can be divided into two categories – foreseen and unforeseen.

Foreseeable circumstances could be something like seasonal fluctuations. We know that winter is coming so if we are in the swimwear business we know trade is likely to fall off – unless of course we promote our internet/mail-order business to clients in the northern hemisphere, or innovatively promote and start pre-selling next summer’s stock to local clients.

Interest rates are another foreseeable circumstance – though we may not know which way they will go, we can at least prepare for one of three different scenarios, they go up, they go down or they stay the same. Each direction has a different influence depending on what business you are in (up is good for debt collection agencies, down is good for builders for example), but given the right pitch, almost any business can leverage from the fact that interest rates are simply ‘in the news’.

Unforeseeable circumstances, though different, can also provide opportunities for business. Few could be more serious than the SARS epidemic of 2003/3, which rocked the Asian economy. Streets and shopping centres were deserted but some manufacturers took a ‘left of field’ approach to ensure they weren’t wiped out by the crisis.

One bra manufacturer, recognising the similarities between bra cups and facemasks, began manufacturing facemasks for the Chinese market. Another manufacturer of microwave ovens dusted off an old design of an air conditioner they had and began selling them using door-to-door sales teams. Each of these was a marketing response to an external circumstance and they both allowed the companies concerned to prosper considerably.

How can you apply this to your business? The first step is to identify the circumstances that you think you have no control over and that are affecting your business. Be open to the possibility that there may be a way to either take advantage of the situation or, at the very least, to make up for lost business that the circumstances may have caused.

If you’re stumped for a solution, maybe you need an outside perspective - give the team at Utopia Creative a call. No matter what your circumstances, we’re certain we can come up with an innovative solution to help your business prosper.

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Until then, all the best from the team at Utopia Creative.