Is Your Business a One-Hit Wonder?
The music industry is full of one-hit wonders. You know, bands or musicians that had one big hit, and then you never heard from them again.
There are also many companies that were formed around one-hit wonders.
Maybe it was a product that was hot at the time or even a service that hit a niche in the marketplace.
Companies that were formed in this fashion often have a rough road ahead, especially in the long-term.
Because growth and profits occurred in these start-ups with relative ease, they often crash and burn when market realities rear there ugly face. Management, what little there is, is often unprepared for the real marketplace.
Long-term growth and sustainability have rarely been a focus as short-term gains have been so easily realized.
The character of the business in most cases has not yet been defined. Now it has its chance. Survive and beat the odds or die and join the ranks of the one hit wonders.
What are you creating? Is it a one-hit wonder, or something that will beat the odds?
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Carl Woolston is a business and marketing consultant with KGaps Consulting, a co-creator of the proprietary marketing methodology “Hub Mentality,”, and a co-founder of The Center for Social Leadership.
His expertise includes network development, marketing, web strategy development, lead creation, and lead capture strategies.
He and his wife Christy are raising their six rambunctious children in Bountiful, Utah.
Connect With Carl:
Email: carl [at] kgaps [dot] com
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