Winners are ALWAYS looking for ways to grow their business.
Winners realize that even during a financial crunch you move forward or lose ground.
They know an economic downturn offers advantages that aren't available during better economic times and they make the most out of it.
A good friend once told me that an entrepreneur can make money in any environment.
Following the these 3 tips below may just what you need to survive the recession.
1.
Get More For Your Advertising Bucks When the economy makes a turn for the worse, it just makes sense that money spent on advertising will return less than it would if the general economic environment was growing.
You may have less to spent, but you don't have to, nor should you, abandon advertising or settle for lower margins.
Advertising agencies are living under the same conditions as you.
They feel the effects of the recession, and are equally desperate for business.
It may benefit both of you to negotiate lower rates.
Another option is free publicity.
Local newspapers are always looking to fill space opening the possibility of a local interest article or, depending on the nature of your business, barter advertising space in return for articles you generate.
You may even be able to do a weekly column.
2.
Take Advantage Of You Market Position If you provide good value for a fair price customers using your product or service may consider it to their budgetary benefit to shift business away from you competition in favor of getting it better, cheaper or faster from youYou might also considering repositioning your product in a more affluent market or create product enhancements that make you more attractive.
3.
Maximize Your Sales and Marketing Efforts It's unfortunate that many businesses retract their sales and marketing efforts during a recession.
If you notice a prize fighter that's been hurt by their opponents they don't back up, they move in.
The winners will take a similar approach.
Now, more than ever, your representative must be in front of the customer when they want to buy.
Optimize all the basics, make more calls, attend more events, refine your elevator speech and hone your unique selling position.
Even during the great depression companies did business, customers spent money.
Your objective now is to do all you can to ensure that when they spend they spend with you.
Winners realize that even during a financial crunch you move forward or lose ground.
They know an economic downturn offers advantages that aren't available during better economic times and they make the most out of it.
A good friend once told me that an entrepreneur can make money in any environment.
Following the these 3 tips below may just what you need to survive the recession.
1.
Get More For Your Advertising Bucks When the economy makes a turn for the worse, it just makes sense that money spent on advertising will return less than it would if the general economic environment was growing.
You may have less to spent, but you don't have to, nor should you, abandon advertising or settle for lower margins.
Advertising agencies are living under the same conditions as you.
They feel the effects of the recession, and are equally desperate for business.
It may benefit both of you to negotiate lower rates.
Another option is free publicity.
Local newspapers are always looking to fill space opening the possibility of a local interest article or, depending on the nature of your business, barter advertising space in return for articles you generate.
You may even be able to do a weekly column.
2.
Take Advantage Of You Market Position If you provide good value for a fair price customers using your product or service may consider it to their budgetary benefit to shift business away from you competition in favor of getting it better, cheaper or faster from youYou might also considering repositioning your product in a more affluent market or create product enhancements that make you more attractive.
3.
Maximize Your Sales and Marketing Efforts It's unfortunate that many businesses retract their sales and marketing efforts during a recession.
If you notice a prize fighter that's been hurt by their opponents they don't back up, they move in.
The winners will take a similar approach.
Now, more than ever, your representative must be in front of the customer when they want to buy.
Optimize all the basics, make more calls, attend more events, refine your elevator speech and hone your unique selling position.
Even during the great depression companies did business, customers spent money.
Your objective now is to do all you can to ensure that when they spend they spend with you.
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