Here’s a quick snapshot of some valuable tips to help you learn from sustained businesses. There’s a lot to learn from the online market, Alibaba. The chines ecommerce powerhouse recently broke IPO records after raising $25 billion, striking a frenzy on Wall Street.
The technology industry unveils new products, seemingly, every day. Laura Entis explains how BlackBerry’s newest smartphone was an attempt to regain a position in the Apple and Android dominated market. When in business, it’s important to be able to go back to the drawing board in order to give your target market what they want.
There’s also a thing as really bad decisions. When a man was found dead in the parking lot of an airport, one business owner decided it was the prime opportunity to market his company. He sent neighboring residents a $5 coupon asking, “Can airport parking kill?” It was tasteless to say the least. And he had horrible timing. The marketing attempt backfired, leading to the company issuing a public apology.
Don’t get so caught up in your business that you detach from what’s going on around you. You can learn a lot from major business moves like the one completed by Alibaba. You can save your business’ reputation by avoiding mistakes like the one that last business owner made. He risked a series of lawsuits and forever damaging his public relationship. In the end, it safe to say that those $5 coupons cost him a lot of money. Click here to subscribe to the Professor Savings YouTube channel to let the money management magicians show you how to create a budget that grows with your company.