Yes, everyone finally admitted the real problem is the economy. Amid all the patching they’ve been trying to do, things are still pretty much a roller coaster ride and probably will be for quite some time.
But you’re used to that, right? The path to keeping your bottom line in the black is not always easy for many small businesses. So what do you do now to keep it on that path? Here are four tips you can put into action right now.
Economy Busting Tip #1: Turn off the TV. Cancel the email breaking news alerts. Resist the temptation to check the stock exchange ticker. Don’t even sneak a peek at any of the TV channel sites online. This is all just noise that will waste your time.
Economy Busting Tip #2: Take a good hard look at your sales. What floats to the top? That’s where you need to focus your efforts. Don’t get distracted by other things. Your customers are telling you what they want. Listen to them. It will get you through the valleys.
Economy Busting Tip #3: Figure out where you’re frittering away money unnecessarily. Take a look at what you absolutely don’t need to spend money on right now. (Hint — it’s not marketing. You must market.) Ask your staff for cost saving ideas. They have their fingers on the pulse and want you to be successful. Remember, if you are successful they are.
Economy Busting Tip #4: Consider bartering for what you need. Take a hard look at the products and services you buy and compare it to your list of clients and network contacts. There may be a way you could partner up and barter to help out both of your businesses.
Now it’s your turn…
Economy Busting Tip #5: I know there are plenty more tips out there. Please add your tip by leaving a comment.