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Being fresh and exciting is what every business wants to portray to the world. But how do you stay on top of the constantly changing desires, needs, wants and demands of the marketplace?

 

It’s as easy as 1-2-3!

 

  1. Research is Crucial. – Subscribe to your industry’s magazines, RSS Feeds, online chat boards, online forums. Ask questions of your customers, both live and online. This is where you’ll learn what the marketplace, your target market, is looking for. Respond immediately to the feedback and comments you get from your blog. Tweet, enter something on Facebook and LinkedIn several times a week and read what people are saying about your business.
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  2. Ask Yourself: “Are the Products I Offer Selling?  – Check your backstock room. If you have outdated, expired product, you need to rethink your product line and examine the market you think you’re targeting. Just because you love a product doesn’t mean that others are interested!You can actually increase cash-on-hand by reducing the price of slow-selling products and recouping your initial cost. Of course, don’t buy those items again!Keep track of how often and how many items or services are purchased over a specific time period. If your customers are not buying, then what you offer is not what they’re looking for. It’s all about turns and keeping track of that data. Whether it’s how many widgets were sold in a 3-month period or how often one of your services was requested, this is crucial information to help you make better buying decisions.You can actually increase cash-on-hand by reducing the price of slow-selling products and recouping your initial cost. Of course, don’t buy those items again!Check your backstock room. If you have outdated, expired product, you need to rethink your product line and examine the market you think you’re targeting. Just because you love a product doesn’t mean that others are interested!
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  3. Develop Relationships With Key Companies and Individuals.
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So, there you go! The 3 simple steps you can take to stay ahead of the curve, stay fresh and exciting. I said simple, the hard part is doing it! Sometimes you may need some help from experts. Don’t hold back. Don’t try to do it all yourself. Contact your professional team and get this done!

If you offer products, ask the vendors what’s hot and what’s not. They will tell you what people are buying and which products other businesses like yours are buying and reordering quickly. Vendors are a rich source of information and worth your time developing relationships with.