Renee Prejean-Motanky

The More You Know..The More You Grow!

In Business Development, marketing on June 2, 2009 at 6:10 pm
Limits to Growth
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Common sense, right?  But despite an uncertain economy and warnings about future shortfalls in Social Security funding, today’s young adults aren’t stepping up to save for retirement.  A recent report from a Chicago research company, Mintel, reveals that over two-thirds (69 percent!) of Generation Y (age 14 to 31) workers who can participate in a tax-deferred 401(k) retirement savings plan just aren’t doing it.

Interestingly, financial advisers aren’t focused on Gen Y. The same research firm found that this group makes up only 5 percent of financial advisors’ client base.  “Advisers still primarily target wealthier older adults,” says Susan Menke, a senior research analyst at Mintel.  “With less disposable income, Gen Y isn’t seen as a lucrative clientele.

Meanwhile financial advisers are missing the opportunity to catch young adults now and keep them as they grow older and richer.”  They’ve completely missed the boat on an opportunity for growth!

Short-sightedness such as this often gets in the way of business growth.  Many of us find it difficult to emerge from patterns that keep us from stepping outside of the box to create  solutions that will actually stimulate earning.  

While the economy has certainly presented challenges for many business owners, I firmly believe that an unwavering focus on growth and business marketing can make all of the difference.  Companies committed to growing their business when the economy is unfavorable by thinking outside of the box will be stronger when the economy bounces back. 

Business leaders know they won’t achieve the success they desire tomorrow if they neglect important business marketing efforts today.  While competitors are, most likely, cutting back many businesses seize the opportunity  to go after their business.  All it takes is an ability to think outside of your traditional parameters. 

Some businesses soar.  Some crash. Others merely survive.  The sooner you set your sights on growing your business, the better!  That is what will make all of the difference.

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