The Three Phases of Business

Businesses go through three phases: Start up, growth, and decline.

Unless you are just beginning your business, you want to be in the growth phase. The owner of  GiftBusinessINSIDER  and GiftBasketNetwork has grown her businesses through the years and her goal is to give you ideas to grow yours.

In each issue, you will find ways to help you think outside the box as you survey your own business and community. I’ve used many of them and others have been successfully used by others.

Your Garden is planted. You may need to water, weed, or even to  prune in order to grow.

Marketing is an essential part of every growing business. But you can’t ignore everything else to focus and concentrate solely on marketing. There are many facets to a successful business.
You need to be aware of the economic changes at the local, national and international levels. These economic changes consistently have an impact on businesses, both now and in the future, regardless of where you are located.

Receiving current information about the retail gift industry and your specific gift business should be important to you as well. Knowing what’s hot, what’s not, the latest trends, what the forecasting gurus are saying and even news about the peripheral businesses, such as shippers and packaging companies, help you make good business decisions.

Change and diversification can and will help your business grow.

A stagnant business is a dying business.

Successful gift retailers continually change their product offerings by bringing in new lines and getting rid of those that aren’t selling, They also diversify by adding new types of gift offerings and services that are different than their usual gift lines. This is why, in previous issues, we’ve featured candy and dessert buffets, cookie bouquets, centerpieces and more.

The Mission Statement for Gift Retailers Connection says: “Our primary goal is to offer the tools necessary to help both new & existing gift company owners start, maintain, and grow their business as the world changes around them.”

These are not just words to me.  I am  serious about this goal.  I will  continue to provide you with marketing articles, help keep you informed on economic news, national and international information that impact gift retailers, as well as current trends and what changes and diversifications you can make to be even more successful. And always I welcome your suggestions and ideas.

But the magazine isn’t our only way to help you grow your business in this changing world. We also offer a FREE monthly newsletter that includes tips and short articles about current subjects affecting you. You can sign up right here.

Our Facebook group also offers a wonderful cache of information due to the generosity of all the members who contribute their information and willingly answer any questions you may have. It’s the place to build relationships with your fellow gift business owners. You never know when you, too, may have a problem or question that someone can help you with.

What’s in it for me, you may ask?

One of our readers sent a quote that says it very well: When you help someone’s boat across a river, you’ll find your own boat has reached the shore, too.

I own a  gift business too. I  learned from others as I grew our business. And I are here to share what I’ve learned while you grow yours.

Joyce Reid

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