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10 Tips for Doing Business in these Trying Times

10 Tips for Doing Business in these Trying Times

Small business owners often worry about how they can thrive in “difficult” times. And no wonder, you can’t turn on the TV or surf the internet without hearing more doom and gloom talk about the economy.

You don’t have to live in the fear of the economy.  What you may want to choose to do is step out of your comfort zone and goes where others are not willing to go right now.  .  Make things happen, take a few risks and see how you can begin thriving instead of living in the grasps of this tough economy.  You can chose to play part in the recession or you can drive your business forward with these 10 simple and easy to follow Tips for doing business in these trying times.

1.   Dare to be different: Do things that others are doing.  Kick up your marketing campaign.  Take a chance and dare to step out and act on your ideas and hunches.  If it feels right, then you should go with it.

2.   Listen to what people are talking about; we know social media is a major tool for marketing our businesses, so get out there and start asking what people want.  What is it that they are looking for and listen to what they are saying?  When you are out networking, instead of “pitching” your business or product, ASK questions and LISTEN to peoples answers.  Listening is an art in itself.  So take the time and just hear what your audience is telling you.

3.      Trim your overhead; Yes we all love the extra things in life but do you really need them to run a business?  Think about the excess that you may have and see where you can cut some corners without jeopardizing your services or product.  Memberships and networking events are a big expense. Are you getting any clients from certain groups?  Take a look at your return on investment and you can make the choices from there.

4.   Make an extra 5 Calls a day.  Just by reconnecting with someone that you may have met at an event can really make a difference, especially if there was a connection already.  By making those extra calls, it will reinstate their memory of you and what services you have to offer, and in return, the potential for more client referrals.

5.   Be aware of your cash flow. Your business cannot survive without cash flow but you need to be aware of what is happening on a daily basis.  If you have no clue where your money is going and what your expenses are, then how can you continue to see if your extra effort is profitable or not?

6. Partner up with like minded businesses. Joint ventures are one of the best ways to increase awareness and your client list. Connect with other businesses that compliment yours.  This way you can increase awareness to all businesses involved and it’s a win/win situation.  People helping people.  It’s what it’s all about.

7.   Include the Add-On to the sale.  We are all aware of the “super-size” “or “do you want fries with that” concept.  This is a great opportunity to upsell your existing clients.  They already see the value in what you have to offer so why not offer them more?

8.   Be humble and be yourself.  There are many business owners who are out there going for the mighty dollar and will do anything for the sale.  People right now are looking for trustworthy and honest people who won’t take them for a ride. By being yourself, this will help you connect with your potential client and in turn build the trust that will close the sale and keep them coming back for more.

9.   Get out there and talk.  Networking events are imperative to business.  But as I said before, make sure that there is a good return on investment for you.  Many of these events attract many “event junkies” that go there for free plus wanting information and services for free.  They are not there to buy, they are there to GET.  So be selective of your events and go to where the movers and shakers are.

10.  Mean what you say and Say what you mean; When you are out networking and talking to people about your product or services, you better be prepared to stand by what you say.  Integrity in these trying times means everything.  You can be posting crazy stuff all over the internet and expect people to take you seriously in business.

After reading this, did you have any “aha” moments where you reflected on how you run your business right now?  You don’t even have to own a business to follow these simple steps.  Just look at what you do in your daily life and see how these 10 Tips for Doing Business in these Trying Times can work for you.  It’s just stepping out of your comfort zone and trusting yourself.

 

Nicole Gruendl
Author, Speaker and Life Coach
Nicole@NicoleGruendl.com

 

 

 

 

 

 

 

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