Keeping Your Small Business Afloat in Tough Times

Author: Linda Smith
Published: January 27, 2010 at 7:41 am

Have you heard the news? Economically speaking it’s tough out there! But we all knew that. The small business sector suffers just the same as Big Business, so what to do? Stick to the basics and do what you do best.

First things first: be sure you know your business.

Have a dream and passion for the business that you chose.
Have determination to make the business work. Show up every day and be the poster child for hope.
Give great customer service. Even if your business has slowed down, the very fact that you are still in business means that someone is paying for your business’ products and services and these customers and clients deserve your attention.
Offer added value. Go beyond just being in business, make your business different by giving the customer more than they expect. Instead of merely selling your product or service, engage the consumer in a conversation about his or her needs and wants and how your product or service can meet or fulfill that. In 2010 pure sales won’t be enough. Added value will be key.

To weather the economic storm, you might think about:

Checking and double-checking your current business plan. Bring up-to-date your stated vision and mission statement; determine if you are on target.
Checking and double-checking your current business strategies: Are you in the correct marketplace for your products or services? Are you actually and effectively reaching your desired customer-base? Are you sure you’ve correctly identified your customer base and know how to communicate with them?
Keeping your products and services clean, polished, and ready to deliver. Be proud to represent the products and services you have in your current inventory.
Contacting your customers: Have you shown your current customers that you appreciate their business? It is not just a cliché that "happy customers bring referrals," it is a truism; satisfied and happy customers will often be a good source for new customers. Have you asked your customers for referrals?

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