Deciding to Add Promotional Products to Your Business

Eventually, most entrepreneurs come to the epiphany that they spend too much time in the business and not enough time working on the business. The choice to blend promotional products into your current offerings is a “working on the business” decision, but only if you hone a keen appreciation for – once that trigger is pulled – how much time, resources, people, and effort have to be dedicated to ensure its success. Enter the risk-reward conundrum.

Business owners come to the realization that playing it safe usually doesn’t pay off. Indeed, risk-taking is an essential skill of anyone owning and operating a thriving enterprise. Good decision making begins with being able to visualize the future, assess the rise and decline of customer interest and demand, and assigning probabilities to each possible outcome.

Impulsively adding promotional products – or any new potential revenue generating initiative, for that matter – can put a fairly successful awards shop in a bind if they were to take big risks for moderate reward, or even moderate risks for minimal reward. Consider this: if you are going to venture outside of your comfort zone and away from your core competencies, do your homework. There is a wealth of information and insight that is yours for the asking.

-Vince DiCecco, Your Personal Business Trainer