Entrepreneurs – Health Check Your Business To Prepare For The Recession
Entrepreneurs – Health Check Your Business To Prepare For The Recession
1. Are your products and services appropriate for a market and customer base going through a recessionary period?
2. Are your prices appropriate to this cash strapped time?
3. Are you getting repeat custom? If not why not?
4. Have you offered new products and services lately? If not – now is the time to do so.
5. Is your current advertising effective? Have you checked on its response lately?
6. Similarly your PR and marketing activities? If not then fine tune them. Any mention of your company or products is worth the efforts you expend in these troubled times.
7. Do your customers feel appreciated and is there any way you can build on customer loyalty? In recessionary times it is very important to keep your current customers happy and let them know you understand their problems. The estimated cost of getting a new customer versus retaining an existing one can be as much as five to one in terms of dollars spent. Keeping customers is more cost-effective than constantly seeking new ones.
8. How is your business doing compared to your competitors? Are there lessons that you can learn from them? Are your prices and products comparable? Are they stealing your market share?
9. Are your staff happy? Do they need training? Are you in danger of losing your key staff?
10. Are your expenses under control? Are there any costs that you can cut? Can you work more efficiently? Smarter?
Entrepreneurs Health Check Your Business To Prepare For The Recession - To learn more about this author, visit Lee Lister's Website.
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You know that the economy is in recession and that you are going to find it hard going in the recession. So how do you prepare your business to deal with the problems and trails ahead? Here’s a health check for you.
1. Are your products and services appropriate for a market and customer base going through a recessionary period?
2. Are your prices appropriate to this cash strapped time?
3. Are you getting repeat custom? If not why not?
4. Have you offered new products and services lately? If not – now is the time to do so.
5. Is your current advertising effective? Have you checked on its response lately?
6. Similarly your PR and marketing activities? If not then fine tune them. Any mention of your company or products is worth the efforts you expend in these troubled times.
7. Do your customers feel appreciated and is there any way you can build on customer loyalty? In recessionary times it is very important to keep your current customers happy and let them know you understand their problems. The estimated cost of getting a new customer versus retaining an existing one can be as much as five to one in terms of dollars spent. Keeping customers is more cost-effective than constantly seeking new ones.
8. How is your business doing compared to your competitors? Are there lessons that you can learn from them? Are your prices and products comparable? Are they stealing your market share?
9. Are your staff happy? Do they need training? Are you in danger of losing your key staff?
10. Are your expenses under control? Are there any costs that you can cut? Can you work more efficiently? Smarter?
Entrepreneurs Health Check Your Business To Prepare For The Recession - To learn more about this author, visit Lee Lister's Website.
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Cheryl MatthynssensCheryl 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 - Visit Cheryl Matthynssens's Website |
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