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Growth is a shared GOAL, but the path is often lined with obstacles that test our focus and resilience. While expansion is exciting, but it comes with lot of challenges that require careful navigation.
When we ask ourselves if we want GROWTH,
The answer is always a resounding "YES"!
Based on my 20 years of experience, research, and insights from successful print business owners and experts, I've identified many challenges. Among them, I have pinpointed 7 money-draining mistakes that print business owners often make, knowingly or unknowingly, which can lead to slow growth.
Here are the 7 mistakes that can be a nightmare for your business growth:
1. Blind Investment, Not Focusing on ROI
Expanding blindly is like climbing a mountain without a map. To track profitability, develop a clear ROI strategy, considering periods such as ROI over 5 years or 3 years, and don't hesitate to seek expert advice. Understanding ROI trends will guide you toward profitable investments.
2. Overlooked Sniper Marketing and Branding
In today's digital era, failing to invest in marketing (both traditional and digital) and branding can pose risks to your business. Develop a robust online presence that allows for seamless ordering and effectively reaches your target audience through targeted marketing efforts.
3. Frog in a Well; No Market Analysis
In a competitive market, relying solely on guesswork is like navigating a maze blindfolded. Instead, base decisions on thorough market research, validating ideas with solid data and consumer insights. This ensures your print business meets actual market needs.
Do you know?Over 90% of printers face similar challenges during their growth phase. |
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4. Dancing to Our Own Beat, Missing Collaborative Approach
Remember, teamwork makes the dream work! In today's competitive market, a collaborative mindset promotes growth. Develop partnerships with like-minded businesses or industry professionals. This creates a synergistic environment, driving everyone involved toward mutual success.
5. Not Embracing Technology for Efficiency and Data Insights
Imagine climbing a mountain with outdated gear. Similarly, neglecting technology can risk your print business's expansion. Look for a growth partner with deep industry experience that offers print industry-specific, easy-to-operate solutions with a reputable pre-sales and post-sales support system.
Are you facing similar challenges in your existing printing and packaging business?
0%Yes
0%No