Strategies To Help Your Small Business Prosper in Challenging Times
65We have all discovered, again, the only constant is cultural change. Just look around and you will see state and presidential politics on messy display, financial institutions in chaos and Wall Street crashing.
This is not the first, nor will it be the last time that we see these ups and downs.However, you may need different tactics and strategies to help your small business prosper as some small business owners have never been through a downturn. The most important decision is to determine if you want to stay in business. I know there are lots of talking heads on TV and radio saying it’s time to put your dream on hold that your dream is no longer available, that you may want to consider finding a breadline.How dare these multimillionaires, sometimes billionaires, tell you how to live your life. They have no experience, for the most part, of how an ordinary person wants to have their American dream.Strategic Thinking to Help You Prosper: First, commit to stay in business. Once the decision is made to either start or stay in business, you will find yourself attracting all sorts of assistance.Second, determine the niche for your business.Remember, the smaller the niche, the higher the reward. To say you work with everyone is a misnomer. You may choose to work with left-handed people who live on the East Coast born after 1975. That is specific. You get the idea.Third, have better and more positive thoughts.Ignore the pundits who tell you to close your doors, sell your house, eat dog food and hunker down in your bed. That’s if you did not take their advice and sell your bed! Thoughts lead to action; action leads to results and results lead to success. Bad thoughts breed bad results, good thoughts breed good results. It’s that simple.Fourth, focus on what you want.Go for the big fish, not the guppies. If you want to make money, find the people with the money. It continues to surprise me that small business owners keep going back to an empty well. If you have tried with prospects and they have not hired you because they either can’t make up their minds, have no money or are unclear, believe them. Move forward.Fifth, make sure you are going in the right direction.Do you have a plan for your business? Do you have a business vision? If not, you will never knew if you are on the right path. Decide what you want out of your business. If you want money from your business, how much? If you want your business to allow you freedom, where and when? Be clear about what you want.Six, Market, Market, Market.Some small businesses and professionals easily fall off the marketing train when times are tough. This is the time for real marketing. What happens is when people are busy making money, they don’t market because they have all the business they want. Then, when there is a slide, they say they can’t afford to market. Well, you can’t afford not to market. You can market your business in numerous cost free or low cost ways.a) Be personal with new prospects. Attend Chamber of Commer meetings to get the layoff the land.b) Partner with someone else. It can be a one-off or a bigger project.c) Write articles to attract people to your website.d) Write a book. You can easily write an e-book in less than thirty days.e) Sign up for Linkedin, facebook and Twitterf) Hire an expert to provide an overview of your marketing plan.Seven, Change Your Attitude.It’s all in the attitude! If you focus on and spend time with losers, you are one. Loser, that is. If you spend time with successful people, you to are a success, if by nothing else than association. Choose your circle of friends, associates and peers wisely. Remember, you are the sum of people you spend time with.Put these new strategies in place for at lest thirty days and you will see a movement towards prosperity for you and your small business.PrintShare it! — Rate it: up down flag this hub
Comments
Hi dabblingmum..some penny pinching efforts are in the above article, ie, write articles, especially using google adsense works that will attract attention. Also, review all your yellow page ads. If you use the google adsense words, you will be able to edit your ad . Remove any redlines in your yellow page ads; they cost too much. The darker border helps, so keep that. Put on once per month free workshops to your market niche. You can keep it an hour and provide good data and attract new prospects. More later and thanks.
Hi Joanne,
This article hit a nerve with me. I'm thinking about my 2009 direction, and always into action, but thinking again about what is the right action? I'm moving toward bigger fish with joint ventures. Funny, I got that advice one day, and the next a big shot contacted me to do one with him, sharing our lists and package profits. This is really a lot less effort than what usually do. And the payoff is larger. Thanks for your insights on this. What do you think is another important attitude and action for bigger business. I know your book Vision with a Capital V is all about thinking bigger.
Thanks,
Judy Cullins
www.bookcoaching.com
Judy,
Appreciate your comments and insights this article. I would say to be clear about the qualities you want in the person you are working with in any Joint Venture. Are they on a similar path as yours; does the JV provide you with what you want; double the value of what you expect to receive, then ask for that. Maybe even triple. Value your personal worth in every conversation. Go big or go home..
Thanks,
Joanne





dabblingmum says:
14 months ago
During difficult times such as these, small companies are pinching pennies and cutting back anything that isn't of necessity--which I agree is very important, but that often means advertising dollars which isn't a good thing. I'd love to see you write a post on how to save on advertising dollars when you're pinching pennies.