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Genie Network - Recession Proof Your Business
 

Recession Proof Your Business:
 
Do you find yourself "Cutting Back" focusing on the basics of life.  Skipping the frivolous spend?

Have you canceled your family vacation this year? Did you cut back on spending over the holidays?  Many large businesses have cut staff and payroll to weather the financial storm.

So as a micro business what can you do to weather tough times?

Here's How:

  • List your products and services.
  • Understand which ones are "essential"
  • Create marketing plans that put your product/service in your potential customer hands and how it will help them as "Essential".

Examples:

If you sell solutions for businesses to define hiring needs and hiring the right person for a job now is the time to focus on cost savings for a wrong hire? 

  • Think of the "needs and challenges of you potential buyer" 
  • How will it save them dollars?
  • Will it be a stress relief?
  • Will your product or service make employees or you more productive?
  • Do you need to offer classes with this new "spin"?
  • How will you communicate these classes?
  • What concerns are your customers stating to you in meetings?  How will your product or service meet or solve their issues.

Once you have identified key elements of what your product or service will do to help the "basic essentials" for your potential clients.  It is time to change your marketing to focus be sure to use the words that your potential clients use.  This will be a great attention getter.

Remember basic needs are food, water, clothing and shelter.

Comfort and security - each businessperson tries to preserve their businesses as well as their home and property.  How will your product or services create comfort and security?
When times tighten up business people particularly look for resources of other business professionals to create the sense of "belonging" and "developing strategies" Business Networking becomes more important that before.

Emphasis on testimonials that state reputation, status, and respect in the business community become very important. 

Whether you are seeking a job, business partner or new customers business networking becomes very important a effective business net worker learns from other business professionals as well as business leads and referrals have greater rates of closing.


Each business professional is a expert in their field during lean times we can learn form each other.

Joining the Genie Network assists you in learning how to be a more effective business networker as well as learning the "Art of Networking"


Tips for Growing Your Business:

Contact Past Clients and Leads


Now is the  time to go through you old databases, business card file, former customers that may have left might be a good time to contact them -maybe they are ready for a change.  Now is the time to inform them of your classes, workshops, webinars, website, blog or e-zine.  

You never know when someone might need your specific product or service and it's up to you to keep your potential customers, leads, former and present clients updated on the ways you can help them.


Do Not Lower Your Prices - Offer a Variety of Products That Accommodate A Variety of Budgets


By offering a variety of priced products you can capture more market share as times get better.  Maybe offer a sliding scale or Ala carte product list.

Bundling products and services offers a opportunity for discounts of a multitude of products creates a sliding scale of price points


Depending on your products and services offer monthly fee contractual pricing.  This allows potential clients to afford services that they may not be able to afford.

Watch your competition - are they bundling?  Offering sale items? Offering monthly terms?  How can you adapt these practices in your business.


Multi-Tier Your Marketing Plan


When business is slow, you need to increase your time spent on prospecting for new clients. Even if you follow your marketing plan to the letter every month, during an economic slowdown you'll need to add, not eliminate, different layers to your marketing strategy.

First keep all marketing strategies that are working.  Here are some suggestions to add that are low budget:


1.      Free Directories
2.      Classified ads
3.      Local paper Classified ads
4.      Craigs List
5.      Virtual Networking Websites
6.      Blogs
7.      Local Breakfast, Luncheon or After Hours Networking events.
8.      Email newsletter.
9.      Update your website
10.    Share links with business partners website

Recession Proof Your Business:
 
Do you find yourself "Cutting Back" focusing on the basics of life.  Skipping the frivolous spend?

Have you canceled your family vacation this year? Did you cut back on spending over the holidays?  Many large businesses have cut staff and payroll to weather the financial storm.

So as a micro business what can you do to weather tough times?

Here's How:

  • List your products and services.
  • Understand which ones are "essential"
  • Create marketing plans that put your product/service in your potential customer hands and how it will help them as "Essential".

Examples:

If you sell solutions for businesses to define hiring needs and hiring the right person for a job now is the time to focus on cost savings for a wrong hire? 

  • Think of the "needs and challenges of you potential buyer" 
  • How will it save them dollars?
  • Will it be a stress relief?
  • Will your product or service make employees or you more productive?
  • Do you need to offer classes with this new "spin"?
  • How will you communicate these classes?
  • What concerns are your customers stating to you in meetings?  How will your product or service meet or solve their issues.

Once you have identified key elements of what your product or service will do to help the "basic essentials" for your potential clients.  It is time to change your marketing to focus be sure to use the words that your potential clients use.  This will be a great attention getter.

Remember basic needs are food, water, clothing and shelter.

Comfort and security - each businessperson tries to preserve their businesses as well as their home and property.  How will your product or services create comfort and security?
When times tighten up business people particularly look for resources of other business professionals to create the sense of "belonging" and "developing strategies" Business Networking becomes more important that before.

Emphasis on testimonials that state reputation, status, and respect in the business community become very important. 

Whether you are seeking a job, business partner or new customers business networking becomes very important a effective business net worker learns from other business professionals as well as business leads and referrals have greater rates of closing.

Each business professional is a expert in their field during lean times we can learn form each other.

Joining the Genie Network assists you in learning how to be a more effective business networker as well as learning the "Art of Networking"