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Do You See Opportunity When Your Competition Goes Under?
by Mr. Cold Call

Companies go out of business all the time; it’s just part of everyday business life. There are probably as many reasons for companies that go out of business as there are companies, but for starters some of these reasons include the following:

A business owner jumped into an industry that they knew very little about.

A business owner expanded too quickly and could not meet payments to their creditors.

A business owner lacks the work ethic that is needed to sustain the growth of their business.

While it's an unfortunate situation when a company goes under, the opportunity for you to capitalize on your competitor's misfortunes could prove to be a steady source of additional income. The two most practical and low-cost ways that you can capitalize on your competitor's misfortunes are through their telephone number and their company website.

Often when a company goes out of business their phone number is disconnected and another business (usually one that is in a non-competing industry) inherits their number. Most major phone companies reuse telephone numbers and that is why a company may inherit a telephone in such a manner. Since this happens so frequently, why not look into transferring the company's old number to your existing business line? This may sound a bit uncomfortable to a select few, but what do you have to loose? Another business will ultimately get their number, why can't this be your business?

The second most practical and low-cost way to capitalize on your competitor’s misfortunes is through their soon to be expired or already expired company website. Once a domain name becomes expired another individual or company may register that domain and transfer this domain to their existing website. The person or company that “takes over” this website will now reap the benefits of the original owner and they will do so in the form of incoming web traffic. What exactly do I mean? This newly registered domain is still listed in a variety of major search engines and as a result, anyone who clicks on this domain name (or types it into the address bar) will now be transferred to the new owner's website.

The process of acquiring expired domains, transferring them to your existing website and then complimenting these efforts with transferring an old business telephone number to your existing business will help you to create even more business opportunities! As a final thought to support the summation of these ideas and their ability to create business opportunities, I’d like to leave you with a famous motivational quote. Alexander Graham Bell once said, "When one door closes another opens; but we often look so regretfully upon the closed door that we do not see the one that is opened for us."

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