Is it possible to reanimate an unprofitable business?
There are a lot of ideas and business projects in the world that are made every day, but obviously not all of them are successful. To make your business profitable you have not only to set up a company but work on it every day unless you will fail.
Let me tell you a story about a man who gave a new life to an unprofitable newspaper.
That man’s name is Jeff Bezos, he’s CEO of Amazon. Some years ago he decided to buy “The Washington Post ” newspaper when it was not very profitable. At first he was not sure about his decision but it was a challenge for him. Without any knowledge how the newspaper business works he started remaking the paper. His advantage was that despite knowing almost nothing about newspapers he knew a lot about the Internet and how to make business on-line. So the first thing that he decided to make was the web-site, the digital version of the newspaper and apps for mobile phones.
He hired a big team of IT specialists and engineer to support all these electronic things. Also he hired a lot of new editors and journalists to make as many articles a day as possible: if any kind of media stops publishing even for a day – people start to forget about it.
He did not forget about social media as well – a lot of people don’t go to the web-site, but follow the pages of the paper in social networks, that’s why it is very important to upload these pages as frequently as the web-site.
One more very important thing is the content. Usually different kinds of newspapers have different topics and depending on them they can be serious or entertaining or something else. But to make the paper successful it is very important to include only good-quality content not depending on the topic.
And also Bezos made the newspaper interesting. It stopped to be boring – he added different rankings, pictures and some funny stories. That grabs the readers’ attention and makes the newspaper more interesting and popular. Moreover, that will increase the number of the readers and the audience will be multi-aged.
These things will work with any business – you have to pay attention to the web-site and other means of social media to advertise your business and also you should think about the readers.
Well, I wrote this article for you to understand that nothing is impossible and even if some business is not very successful you can make some steps and change all the structure of the company: all you need is a smart and well-educated manager who will lead the company to success!