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Small Business Growth: Recession Rescue Strategies

Small Business Growth: Recession Rescue Strategies

Enough already with looking backwards. I remember being so frustrated by the presidential debates because the focus seemed to continue to be in looking backwards and placing blame. Understandably, there is plenty of blame to go around... from Wall Street, to Main Street, to D.C. BUT, we can't stay there. Seriously, I wonder how we would feel if a fire fighter decided to lecture us about playing with matches rather rescuing us from a burning house?

This week alone, I have heard from two business owners going "under"... literally closing their doors and, of course, blaming the economy. I must say that both of these companies started out with overwhelming debt, and neither had shown a month of profit since opening their doors. They were both open BEFORE the "recession" hit... Both invested heavily in traditional marketing... Both inquired about hiring a business coach, but never felt it worth the investment. THIS is the Darwinian-like "thinning of the herd" that we will continue to observe in "tough times". But you don't have to be one of those eliminated... So, what can you do NOW to rescue your own business today?

MIND YOUR MINDSET. There is such truth to the old adage, "you are what you THINK". If you are constantly seeing lack, you will begin to ONLY see lack. Likewise, look for opportunity and begin to see more of it. Many businesses thrive in tough economies. Why not yours?

WHAT OPPORTUNITY? There are many, many opportunities to prosper in a tough economy. However, the number one benefit I have seen is this "thinning of the herd". In my own industry, two years ago you couldn't go to Food Lion without meeting an eager, overly-enthusiastic "speaker, coach, and author". Because the industry is relatively easy to enter, there was immense competition, price wars for coaching, and more "static" to compete with as a professional. NOW, there is much less. The same is true in many industries. As many business owners close up shop, you are better positioned to own a lion's share of your market. Look around you. When you see someone in your industry close their doors, please do not think it is a "telling sign". See it, instead, as a newly UN-served pool of customers. Take advantage of the DECLINE in marketing to boost your own marketing efforts.

PLUG YOUR CASH LEAKS. Nothing deals a death blow to a business like a lack of cash. So, plug up those cash leaks. Try everything to keep your cash as long as you can keep it. Negotiate lower rent for commercial space. Negotiate more favorable (longer) terms with vendors. Give customers a pre-pay discount to avoid having to chase money owed to you. Go through your budget. What "customary" fees and bills are you paying that may not be necessary right now?

MAKE SURE THAT EVERY LEAD / PROSPECT IS HANDLED WELL. When you get a lead or a prospect, make sure that it is handled appropriately. Pay attention to everything. Where did the lead come from? What does the prospect WANT? Pay CLOSE attention to all factors that lead to sales, so you can implement them again.

SEEK EXPERT COUNSEL. Many years ago, during the gold rush in the United States, there was a man named R.U. Darby. After weeks of seeking, he was thrilled to find a "shining (gold) ore". He came back home and borrowed money for the equipment needed to mine the ore. The first car of ore was mined. A few more cars-full, and he would have had enough to pay back his debts. The rest would be exhilarating profit. But, the gold seemed to simply disappear. They could find no more gold. In defeat, they sold their expensive equipment to a junk dealer and went home. The junk dealer consulted a mining engineer who told him that Mr. Darby had simply not known about "fault lines" and that the gold would be found about THREE FEET from where Darby had stopped drilling. You mean just seeking expert counsel could have saved Darby his "lost" fortune? Yep. But instead, the junk dealer took the advice, kept drilling and the gold was found EXACTLY three feet below the fault line.... right where the expert counsel had predicted. History records that, "That junk man took millions of dollars in ore from that mine because he knew enough to seek expert counsel before giving up." Don't be a Darby!!

P.S. Mr. Darby learned from his mistake.. refused to take "NO" for an answer again, and later became one of the most successful insurance salesman of his time!





Small Business Growth Recession Rescue Strategies - To learn more about this author, visit Michelle Pippin's Website.

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George Ludwig
George Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website

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Cheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur.  Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well.  A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles.  She opened up a small affiliate site - The Balance Guide-  to help others find resources for mental and emotional well being.  Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com

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John Alexander
John has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center.
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John Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website

David Barr
David Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website

Anne Barr
Anne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website

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Michelle Pippin
(Visit Michelle's Website) B. Michelle Pippin is known for her “NO EXCUSES…. JUST RESULTS” approach... and for writing the FIRST EVER business report based on the marketing tactics of drug dealers and prostitutes. (Go to www.womenwhowow.com to get your free copy.) While relentlessly committed to producing “unreasonable results” for her clients, her passion for being an entrepreneur and the ability to create a life you will love is palpable and contagious. Never one to follow the beaten path, she is a true renegade in the field of entrepreneurial success. In short, Michelle connects speakers, coaches, consultants and other solopreneurs with PROFIT. Firmly grounded by her “always practical” strategies and real-world, right-now solutions, Michelle offers private coaching and group masterminds that allow her clients to create success their own way. If you have found traditional networking and advertising entirely UNprofitable... IF you are sick of experts selling you "success in a box" that NEVER changes YOUR bottom line, you've got to meet Michelle. To get more information about working directly with Michelle, send an email to Michelle@womenwhowow.com. Also check out her blog at www.womenwhowow.wordpress.cot

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