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Preparing For The Rebound |
It's understandable to feel a little discouraged as you watch what's happening with our economy these days. Some of us are feeling the effects directly, while others are not. Either way, the one thing we know is that the economy will improve. The question is: Will you be ready for it when it does?
 There are several areas of your business that you should focus on right now to prepare your business for an economic recovery.
- Sales. Hopefully, you haven't let your good salespeople go. But if you did, devise a plan for hiring new ones, or rehiring past ones, as soon as your finances allow. Your sales department will be crucial to building up your business once the economy recovers.
- Marketing. Many businesses slash their marketing budgets during a recession. But if there was ever a time you need to promote your business, it's now. Nevertheless, sometimes it can't be avoided. If that was the case for your company, try to start investing in your marketing as soon as possible. If money is tight, you may want to try Guerilla Marketing (below) if you don't already.
- Human Resources. Take advantage of this downtime by training your staff so they'll be prepared for an increase in business. Also, there are a lot of great people out on the market right now; see what you can do about getting them on your staff.
Unfortunately, there is no telling exactly when this recovery will occur, but we know from history that it will happen. If Solid Oak Consulting can help you with an economic recovery plan for your business, please contact me. |
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What A Recession Can Cost You |
During a recession, many businesses, acting out of fear, start to put up barriers. They make short-sighted decisions that affect the long-term relationships they have built with their customers.
For instance, they decide to cut vital customer-service staff in an effort to save money. But instead of saving money, it ends up costing them because these kinds of decisions affect their ability to serve their customers well. Smart businesses realize this and make an effort to take extra good care of their customers during a recession. Customers will always remember that you took extra care of them during a tough time.
When you make cost-cutting decisions in your business, make sure to look at the long-term effects it may have. You can't afford to lose customers, especially during a recession. |
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Guerilla Marketing Makes Good 'Cents' |
In a good or poor economy, Guerilla Marketing is a great method for businesses to market their goods and services. Guerilla Marketing is effective for three reasons:
- Because of big business downsizing, decentralization, relaxation of government regulations, affordable technology, and a revolution in consciousness, people around the world are gravitating to small business in record numbers.
- Small business failures are also establishing record numbers and one of the main reasons for the failures is a failure to understand marketing.
- Guerrilla marketing has been proven in action to work for small businesses around the world. It works because it's simple to understand, easy to implement and outrageously inexpensive.
For for more information about Guerilla Marketing, please visit my website. |
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