Have you taken the necessary precautions to stop yourself worrying about the future of your business – or are you going to continue being fearful and leave things to chance?
The words of Roald Amundsen, the famous Norwegian explorer and first man to complete a mission to the South Pole in 1911: “Victory awaits him who has everything in order – luck people call it. Defeat is certain for him who has neglected to take the necessary precautions in time; this is called bad luck.” – are as true today as they were 100 years ago.
When things look bleak, what are you, as a business owner, doing to transform your company to boost its growth, profitability and sustainability?
In 2006 thing looks dim for one of my What If Forums member company Abraham Moon and Son – the last vertically integrated woollen mill in Yorkshire. Fast forward five years and they are blazing an innovation trail and striding into the future with renewed confidence – a success which is reflected in being a regional winner in the Business Thinking competition
So what’s the secret behind the turnaround spearheaded by John Walsh, owner of Abraham Moon & Son which was launched in 1837 when Queen Victoria ascended the throne? Transforming the business from a manufacturer of rolls of cloth to the home of brands steeped in heritage, design and quality was based on the following effective formula:
- Making a strategic decision to harness the power of branding
- Seeking out new markets through powerful engagement via social media
- Maximising the benefits of the new markets and customers at home and abroad resulting from the above
So if a staid old woollen business can embrace the idea of brand marketing and move out of being suppliers of a commodity product think what this approach could do for you. To learn more about how to tap into the power of branding particularly in the B2B market email firstname.lastname@example.org, go to@richardwhatif on Twitter Link, Richard Bosworth on LinkedIn or www.whatifforums.com