Manhasset Minuteman Press

The business world continues to adapt at an astonishing pace. Fifteen years ago, Blockbuster, Hollywood Video, and similar movie rental businesses dominated the market. Soon, however, Netflix arrived on the scene, and cable providers began offering on-demand movie options. The cost and inconvenience of having to stop at a store rather than just turning on the TV or computer meant that these once dominant businesses quickly began to lose ground. Now they're all but obsolete. What these major corporations can teach businesses of all sizes There are two ways you could look at the fate of Blockbuster and similar companies. You could either worry yourself sick about your own place within your industry -- or take action and learn from the mistakes these companies made. If you look closely at what happened to these corporations, it's easy to see the importance of market research, innovation, and finding ways to make life easier for your customers. Some companies thrive at

From the time the x-ray was invented around the turn of the 20th century, people have been fascinated by the capacity of these rays to capture what lies beneath the skin. When the technology is used by doctors, it can help determine if bones are broken, detect disorders or illnesses, or see how well a broken bone is healing. As business leaders, we must sometimes look at our own businesses with x-ray eyes: uncovering and treating problems beneath the surface before they get out of hand or cause permanent damage. Uncovering problems Few businesses run perfectly. As any company grows, it will experience bumps, bruises, and hiccups along the way. Part of running the business involves being able to lead the company through these times, so you can come out the other side stronger and better prepared for the future. Many times, this involves easy fixes. Perhaps a new employee is needed to handle greater demand or a policy might need to be tweaked to adapt to an evolving workflow.

When it comes to marketing, the million-dollar question is: "Have we been successful in our campaigns?" No company wants to pour money into a marketing effort and get nothing in return. It's common for marketing professionals to track numerous metrics in an effort to gauge the success of their campaigns. Unfortunately, many are monitoring the wrong thing, and that can be dangerous. What metrics don't matter? It doesn't matter how many people visit your website. Some people might argue with that and try to talk about brand exposure or sales funnels, but think about something. Say you do a massive overhaul of your website. You really focus on optimizing content, creating a clean and attractive layout, and improving your search engine ranking. Your site traffic jumps by a shocking 200 percent! Wow! Congratulations! What does that mean? Nothing. The jump in traffic is only significant if the number of conversions jumps with it. If you received 10 quality l

Recognizing and grasping the right opportunities is important in nearly every aspect of business. Taking bold action at just the right time can take a company from decent to extraordinary, from paying the bills to thriving. In some cases, success itself can hinge on a single connection or contract that opens the floodgates. If you've been around the business world very long, you know that success is not completely predictable. Some companies with very talented leadership and great ideas never seem to get out of the starting gate, while other companies with lesser talent manage to make it all the way to the top of their industry. The difference often boils down to knowing how to recognize opportunities and then having the courage to take them. Recognizing opportunity So how can you ensure you're taking advantage of the right opportunities? The first priority is understanding your niche in the marketplace. Make sure you have a clear idea of how you're serving cust