Page 138 - Paulisms: Gold Nuggets for Small Business

Paulism: Competition is good but keep the pressure up in the way you operate and market and do it better than your competitors, as they will be constantly working on taking business off you. Your performance is your protection.
5.4 Everyone knows best when it comes to marketing and entering a new business.
Everyone has an opinion on marketing and think they know it all. Beware of new marketing and management teams. They will want to stamp their authority and impose their influence.
I have seen it many a time that people come into a business and straight away start making changes. Mucking around with an often-proven model. OK, change is often good, but why not settle in for six months, especially if it’s not broken; get familiar with the company first. Why change a tried and tested way of doing things? The business has got to where it is for a reason, and if it’s at an acceptable profitability level, bed in, then make changes. Watch marketing managers closely. They want to stamp their flair. That’s OK, but ensure controls are in place to prevent damage to sales, overheads and brand further out. Very importantly, ensure everyone signs off on it. Don’t let them run wild.