The first thing that comes to mind when I hear the phrase, “tough times” is that tough times make you stronger, which is frustrating and a bit cliché, don’t you think? Instead of believing that I somehow need tough times to make me stronger, how about a new belief: “I no longer have to face tough situations in order to learn,” or “I can grow as a person without misery or heartache”?
The reality is that the tough times do force me to grow; after the mourning period of a loss, I am grateful for a stronger connection to spirit. And in facing challenges, particularly the more painful ones, I am more likely to figure out an alternative way of doing things.
This is all great in my personal life, but how do you apply this to business? How do I learn and grow from the challenges that affect my livelihood?
As a small company, built on invention, family, and organic marketing, we have been blessed by our success. We entered the market with a much-needed product that makes life easier when traveling with kids. However, even with our modest success, we’ve never had the budget required to market to an ever-changing audience (new parents), and get our products in front of people who could benefit from them; this has always been one of our downfalls.
This limitation has been magnified by the entry of competition. After six years on the market, the big guys clued into our success and came out with their own knock-off of our product (they spent a lot of time and money working around our patents). My first question is: Why couldn’t they come to us and ask about licensing? The second is: How do you compete with big companies that have millions of dollars to spend on marketing, and their first efforts are taking over the searches, keywords, and accounts you have worked so hard to obtain?
Go-GoBabyz is more than a business to us; it is our life. While any business has a goal to make a profit, we also have the goal of making our customers’ lives just a bit easier; we truly care about the families who use our products, and enjoy the many relationships we’ve developed over the past years. Now we are faced with our biggest challenge: how do we continue to reach people when we have big corporations now competing for those customers with huge marketing budgets?
To all our customers and fans out there, I am seeking your assistance. Ideas, thoughts and experience in this situation are more than welcome.