1.3.4 Where can I find opportunities in the local environment?

Surprisingly, a company does not have to be big or  break into the global market in order to find a way out of the crises. The changes of the local environment provide opportunities for small and micro-enterprises as well. It is possible to take advantage of the changing circumstances – just as well as for large enterprises - regardless of the characteristics like size, location of that environment and timing. Changes are opportunities to be exploited everywhere.

Please stop and think:
Have you experienced changes in the needs of the local market?
Have you thought about taking advantage of recently emerging spaces on the market?

PizzaCorner was experiencing a drop-back of their customers by 50% due to the financial crises. Their main competitor, Il Italiano, located on the same street also experienced an 50% drop-back of their customers. The difference between Pizza Corner and Il Italiano was the way they managed the decline. Il Italiano went bankrupt. PizzaCorner examined the reason why frequenters chose the neighbouring restaurant instead of them, and found out that their pastas were richer in their ingredients. Thus, they decided to renew their menu on the selection and ingredients of their pastas. As a result, in 3 months they achieved a 30% increase in their income due to attracting 60% of the customers of the former Il Italiano.

Due to the effect of the economic crises there always are companies which go to ruin. The reason for that can be the decreasing market and the loss of one part of their customers. Think about this: these companies that went bankrupt had lost one part of their customers, but the other part became unsatisfied at the same time. Try to fill up the hole which arose on the market!