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Why You Should Be Thrilled
That the Economy is Tanking
Jumping for joy that the economy
is sliding sounds counter-intuitive, but stay
with me. No matter what the economy is like,
there are always businesses that do more than
just survive – they thrive. How is that
possible?
Anyone can be successful when the economy is
good, but it takes a smart business owner to do well when things
aren’t perfect. Businesses that want to flourish don’t retreat
when financial experts spread doom and gloom. In fact, smart
business owners push forward harder with their marketing and
sales efforts.
The great thing about a sliding economy is that
the “hobbyists,” accidental successes, and people who undercut
prices will fall away quickly and get out of the business.
This helps your business and your industry by getting rid of the
hacks and improving the opportunities available to you.
What can you do to make sure your business is
insulated from financial disaster?
1. Solid Marketing Strategy
Take a good look at your marketing plan. Make
sure you put together a solid strategy for marketing and don’t
let up on any of your efforts.
Grab a calendar and plan out the next 12-24
months of postcards, newsletters, email marketing, letters,
phone calls, thank you notes, and other marketing efforts, so
when others bottom out and leave the industry, you are standing
on top when potential customers come looking.
A strong marketing approach which includes web
marketing as well as postal mailings will have your business
soaring – and your competitors wondering, “How is she doing so
well?”
2. Sharp Sales Skills
Make sure your sales skills are sharp and
effective. Once you spend time, energy, and money marketing to
get your prospects to contact you, you had better know what
makes your customers fall in love with the idea of buying from
you. Asking the right questions in the sales process is often
the difference between losing the customer and gaining a
customer who chooses to spend big bucks to hire you.
3. No Advertising
Do not, under any circumstance, get lured into
advertising. It’s a sure fire way to spend a bunch of money
with little to no return on your investment.
Advertising is when you pay to place an ad in a
magazine, newspaper, online, or in another publication.
Businesses are often attracted to advertising because it seems
like an easy way to bring in a new stream of customers and
because they see their competitors doing it. Some businesses
are convinced to place an ad by a slick advertising salesperson
who spewed a bunch of large numbers about readership and
circulation, but made no mention of how many actual sales
occurred for advertisers in their publication. It doesn’t
matter how many people see your ad, it’s how many buy
because of the ad.
Here’s the straight truth: advertising efforts
do not work – especially for small businesses. You will see far
better results for a fraction of the money if you put your
efforts into solid, thought-out marketing.
Plan out your marketing, sharpen your sales
skills, and avoid advertising to see a successful business in
any economy. Put down the white flag and get out there and
fight for your success!
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