How to Survive and Thrive in Tough Economic Times

When the going gets tough…

As we watch all the uncertainty in the economic markets one thing is certain; NOTHING IS CERTAIN!

As I am interacting with small business owners who have a keen eye on all the happenings of the day I ultimately encounter two responses, first is: “let’s wait and see what will happen”, second are those who see and seize the opportunities and actually capture more market share.

When money and revenues get tight it is tempting to cut the “expense” of marketing and advertising. The wait and see business is the one who will go back to aggressive marketing once revenues are up. This strategy is like the man on a cold winter night who tries to bargain with his stove:

“Stove, if you’ll give me heat, I’ll put wood in you!”

We can laugh, but marketing and advertising for your business are crucial to your survival. Every day that you, as a business owner, put off action is a day that you can never get back. Of all our assets none can compare with our time for value. Don’t let fear and worry paralyze you! Do something! Make a plan that utilizes what resources you can muster and get to work. If you hit a dead end go back and try something else. Just the act of working and moving toward a goal will energize you and actually begin to open new doors of creativity inside of you.

When planning, try to avoid focusing on the obstacles. The Bible says: “what’s lacking can’t be counted”  (Ecc. 1:15). In other words, there will always be obstacles! There will never be enough money to do everything you want to do. Nelson Rockefeller was once the richest man in America and he was asked: “Mr. Rockefeller, how much money is enough?” and he replied: “Just a little more!”  So instead of focusing on what you don’t have focus on what you DO Have!

You might say: “Hey, I’m in trouble, I can’t pay the rent. How am I supposed to focus on my resources?”  Here are some suggestions to help get you going.

1. Are you healthy? Great you can work! Go prospecting, see the people.

2. Is the phone on? Start calling your existing customers, remind them of your latest specials, and ask them for referrals.

3. Email still working? Contact, follow-up, prospect.

4. Printer/copier still working? Got paper? Make a flyer and go hand it out.

5. Do you have employees? Get them involved. Ask for ideas and suggestions for creating more sales. Have them contact friends and family for a special sale.

6. Biznik Member? Go to networking meetings, write articles, have promotions.

7. Go to the library. Read a good book (or THE Good Book), get ideas, try something new!

8. Try new advertising avenues, find other successful people and ask them what they are doing.

9. Go to church! (Everybody can use more faith!)

10. Have a positive attitude

11. Avoid negative people and cultivate positive friendships.

12. Avoid news on TV and in the paper in large doses.

13. Spend time with family and loved ones.

14. Believe in yourself! God doesn’t make junk and he doesn’t sponsor flops!

In all the years I have been in business I have learned at least one thing: Decisions based on fear are usually wrong! That doesn’t mean that we are foolhardy and unaware of circumstances and trends, it simply means that we refuse to let our emotions dominate our thinking. As many businesses give up and give in, those customers need to go somewhere, why not to you? As people’s buying habits change, perhaps now they are more open to the value that you bring. You have a great business, you add value to people’s lives and now more than ever people need value.

I want to leave you with a quote I once heard:

Yesterday is history, Tomorrow is a mystery, Today is a gift, That’s why it’s called: “The present.”