Today’s post is courtesy of CYBF’s “Entrepreneur-in-Residence” Brian Moreau. Brian provides advice and resources to CYBF entrepreneurs as they launch and maintain their business.
Change, not the loose stuff in your pocket or purse but the verb, is the one constant in business. And where, you ask, did I acquire this profound knowledge? It’s called the School of Hard Knocks!
I’ve come to the conclusion that businesses either grow or die, and usually it boils down to their ability to accept change and adapt accordingly. There is no such thing as status quo – if you’re not willing to adjust your vision, step aside because someone else will be more than happy to transform their business, and take your customers. Some business champions I know have even adopted the title, “Agent of Change.”
And what has caused more changes in the world of business than the introduction and exploitation of the Internet? Simply put, it has changed the way we do business in the 21st Century.
Recently, a good friend and colleague of mine sent me an email saying he thought times had changed too. Specifically he was referring to Google’s somewhat recent efforts to take advantage of a new trend and concerted effort developed to serve the micro-entrepreneur or small business. The term is “Long Tail” a catchphrase popularized by author Chris Anderson. It seems Google created an entire business model based on Anderson’s research that redefined their revenue stream around the so-called Long Tail.
I’ve given up trying to figure this out this new medium myself and started talking with fellow entrepreneurs who seem to get it and are taking advantage of what I consider a newfangled marketing tool. One such fellow is Joel Halse, a young entrepreneur who I met a few years back when he was just starting out. Joel is a firm believer that true entrepreneurs “recognize opportunity where others see confusion.” Joel does get it and has started spreading the word about how online marketing works, how to set up a lead generation system and most importantly, how to turn clicks into customers.