In an economic
downturn, we are all like deer on a dark and windy road. Some of us see
approaching headlights and instinctively know to leap into the woods.
Unfortunately, others of us freeze. Unable to go left or right; we think that
wherever we leap to will be worse than our current position. I certainly don’t
need to elaborate on what happens to the deer on the road that freezes.
If you’re one prone
to frozen panics in tough financial times, you need to embrace some logic. Just
like the deer in the headlights, you will be doomed to a painful demise unless
you take a leap. When times are challenging, being coward and indecisive can be
fatal business mistakes. Alternatively being bold, creative, and quick-thinking
can not only help you weather through challenges, it can propel you to leap
ahead of your competition that is still stuck in the middle of the road waiting
to be hit.
Start by resolving
yourself to do something. Join a new networking group, discover a new
promotional opportunity, or learn a new way to market yourself online – just do
It’s natural to
feel a little blue when business is slow, but don’t let the blahs turn you into
an office recluse. Detaching yourself from customers and prospects only helps
them to forget you and notice your competitors. Get your name out there any way
that you can. Make calls, send emails, write articles for trade publications,
start a newsletter, send out a press release, and attend any events where you
can reach out to others.
Don’t Cut Your
make the knee-jerk decision to cut spending on marketing and promotions during
a slowdown. What a big mistake! This is the time to communicate your message
and offer a value proposition that will resonate with your market. Inevitably,
you will have competitors that scale back their marketing out of sheer
financial necessity. Take advantage of the less crowded playing field and shout
to your customers that you’re still going strong when times are tough.
business is cyclical. It may seem like this economy is taking an incredibly
long time to turn itself around. However, new opportunities and more business
will be there for the taking if you can hang in there and maintain your ability
to think fast and keep moving.