The Cost of Doing Nothing

By Glen Gardner/CEO GG&A

There are times when the cost of doing nothing can be fatal to a business. I meet and consult hundreds of businesses in the course of a year, and in about 10% of the cases they tell me they are just not going to do anything "right now." They tell me they are just going to "wait it out" or pull-back until things get better.

The problem with that attitude is the world continues to move forward while you "wait it out." More than likely your competition, customers and potential customers are not waiting. They are moving forward with you or without you.

Because you are not in a position to spend substantial marketing dollars, does not mean you should wait or do nothing. It does mean you have to be very careful with your resources and be very strategic in how you promote your business.

Not all marketing requires a huge dollar commitment. One of the best uses of time is strategic planning. Developing a marketing plan, even if you have no money, is key to your future success. That plan should include measurable goals and specific timelines that put you in a position to move forward regardless of budget.

Doing nothing is usually a prescription for disaster in business. Just because you are financially behind the eight-ball, doesn't mean you go into suspended animation. If you do you may find the world has passed you by while you were sleeping. Do something!