Quote:
Originally Posted by Phil
Guess we all have our little Schpeel on those Good ol' Lemons... 
Come On, Try and startup a business based on...  |
Thanks Phil... Some great links! I liked the story of how Netflix got founded too... It's always fascinating to find out how various businesses get started...
Also...
I like this article. People have to change some things due to the times... It takes some creativity.
However, if you look around, you'll find various people responding - and what they're doing is working...
I keep a close eye on some of this stuff...
For example, what about the free Denny's breakfast that happened recently? They got huge publicity, and I'm sure it's resulted in increased patronage of their restaurants...
With people hurting, what better offer than a free breakfast?
(They did charge if you wanted some extra toast, though...)
http://blogs.dallasobserver.com/city..._coffee_an.php
Now, here's another unusual one... The promotion is over now, but it's still a great example.
One luxury resorts company has had business go down. So they hit upon this next promotional idea...
They'll exchange stock for a stay at one of their Caribbean resorts!
Not only that... They'll value your stock at the value it was at on July 1, 2008! It's like being able to "wind the clock back" on your stocks by six months...
With stocks having gone down, many people would consider it a great deal... (To limit their downside, the company will only accept stock in about 100 "blue-chip" companies... They're probably betting that these stocks will eventually go back up...)
If nothing else, they've gotten good publicity out of it!
http://www.examiner.com/x-1092-Carib...-the-Caribbean
I think those are couple of other examples of companies that have taken "lemons" from the economic downturn, and made "lemonade", by doing something a little differently...
Dien