"Our Survey Reveals 80% of Otago Businesses Are Struggling—Here’s How to Turn It Around"

We recently conducted a survey across Otago, asking small business owners how they're faring in the current economic climate. The results were telling: a whopping 80% of businesses are facing a decline in profit, ranging from 5% to as much as 50%. The picture is even bleaker for those in Dunedin, who are finding it harder to stay afloat compared to their counterparts in Central Otago.

Now, let's get real for a moment. Hoping things will get better on their own? That hardly ever works. In fact, businesses go broke because people do stupid shit. And when times get tough, there's no margin for error.

The Harsh Truth

From our survey, it’s clear that many businesses are really struggling. But why? The most common reasons are startlingly simple:

Lack of an Effective Sales Process: If you’re not measuring key sales indicators, you’re flying blind. How can you improve what you don’t track? Without an effective sales process, it's like trying to navigate a stormy sea without a compass.

1. Weak or Non-Existent Marketing Plan: Let’s be honest, most business owners suck at marketing. They don’t have a clear marketing plan, and what little marketing they do is minimal at best. You can’t afford to be the best-kept secret in town; your customers need to know you exist.

2. Poor Positioning Against Competitors: If you’re not positioned above your competition, you’re just another face in the crowd. In a saturated market, being ordinary won’t cut it.

The Silver Lining

Here’s the good news: these challenges are solvable. Yes, things are tough right now, but that doesn’t mean your business has to be part of that 80% struggling with declining profits. In fact, this can be a time to thrive if you take the right steps.

1. Sharpen Your Sales Process: Start measuring those key sales indicators. Understand what’s working and what’s not and make adjustments in real time. This is your roadmap to steering your business through these rough waters.

2. Get Serious About Marketing: You don’t have to be a marketing genius, but you do need a plan. Identify your target market, craft a message that resonates, and get it out there. Your marketing should be loud, clear, and consistent.

3. Position Yourself as the Best: Look at what your competitors are doing, and then do it better. Find your unique selling proposition and hammer it home. Make sure your customers know why they should choose you over anyone else.

Moving Forward

The survey results may seem daunting, but remember, it’s not about how hard you get hit—it’s about how hard you can get hit and keep moving forward. Every business faces challenges, but it’s how you respond that determines your success.

Take this as a wake-up call. Reassess your strategies, refine your processes, and double down on your marketing efforts. There's no room for complacency. With the right approach, you can not only weather this storm but come out stronger on the other side.

In the end, it’s not just about surviving until things get better; it’s about thriving now, so when the economy turns around—and it will—you’ll be in prime position to capitalize on that growth. Let’s roll up our sleeves and get to work. Your business deserves nothing less.

Ready to Make a Change?

If you’re ready to tackle these challenges head-on and start seeing real improvements in your business, I’m here to help. Let’s have a conversation about how you can implement these changes now and position your business for success. Whether it’s refining your sales process, crafting a clear marketing plan, or finding that competitive edge, I’m here to guide you every step of the way.

Reach out today—together, we can turn these tough times into an opportunity for growth.