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Small business and the economy

What can small businesses do to survive the economic downturn?

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1
Brian Phelps
Lead Designer, Focus
Posted on May 27, 2009

Customer service is one thing that doesn't cost much, but the results are dramatic. Working to get every customer's experience positive will get you a long way.

1
Richard Campos
Mr, RC Business Support Ltd
Posted on Aug. 31, 2009

I'd agree with Brian on this and add that the relationships that are developed between supplier and client are paramount. The positive experience gets new leads, brings referrals and generates income.

It is a difficult path to walk in recession but if the customer service can be provided at such a high level then clients will buy from the supplier.

The old adage of "It takes months to win a client and seconds to lose them" has never been so true in todays economic climate and remember it doesn't cost a lot to smile and say thank you and it can repay itself many times over.

Richard
www.rcbusinesssupport.co.uk

0
Maria Marsala
Accounting & Financial Advisor Coach, Strategist, Speaker, Author, Elevating Your Business
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Purchase and read the book the Emyth Revisited

Do a One Page Business Plan(r)

As soon as your vision is done, then recreate your Ideal Client Profile

This way you can design your mission, objectives, strategies and an action plan.

Yes, of course add a SWOT/Value Proposition/USP to the mix.

Create a pricing strategy and marketing funnel.

Work strategically, remembering that you're paying (in time and money) for all you do to grow your business and often spend time "to doing" instead of being more strategic.

Ask clients what else could you offer that they'd purchase.

My biggest mistake was not having a big enough rainy day fund.

Upwards and onwards

Maria Marsala
http://www.ElevatingYourBusiness.com

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