Business success in a recessionary market

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Business Consulting by Mary P. Brooke      |         Last update: Sept.8, 2009

Times might be tough, but a smart business doesn't shut down, it weathers the storm. Here are some guidelines for selling your products and services despite the economic downturn.

1. Stay afloat in your own head. Be positive, creative and curious. In the big picture, find out what is going on in your industry. In your own scenario you can examine data and trends as well as sourcing some new opportunities. Use the available time and resources to generate new leads and techniques. Study new systems and arrange for training in new areas of technology, business and computers.

2. Continue promoting yourself and your company. There's probably a level of wastage in your marketing program; eliminate that and move forward with what works. You do need to spend money (and time) to make money (and results). Following the leads for what creates immediate revenues, while at the same time developing ideas and processes for mid-term and long-term results.

3. Provide educational services as way to generate leads. Everyone needs to brush up on skills, and during a downturn they might have more time on their hands to do just that. Provide valid and useful ideas, skills or concepts in seminars, workshops or online modules. Registrants will pay for the learning but may also become clients in other ways.

4. Network with a new attitude. The old methods of networking where you swap business cards and develop an insular group that trades only within itself is passe.  Find like-minded business people and do some serious cross-sharing of skills, program and possibly even share your employee efforts in a cross-plank manner. Network through small groups within your industry or with a group that is regionally-based. There is nothing like face to face. There is also the social-media world for the audience that has time and interest to blog and twitter.

5. Work smarter, not harder. Sure, the days are long and hard when business success must be 'pushed' in order to occur. But working in new ways that produce better results than before will take you farther than just burning the midnight oil on products and services that may have outlived their usefulness.

6. Plan your sales approach. If you've been lucky enough to see clients fall into your lap, good for you. However, now more than ever you want to plan your sales approach so that you find clients to serve various aspects of your business profile. Some clients bring immediate revenue but others are for the longer term with projects and products that have yet to come off the assembly line. Structure sales into your schedule in a way that truly works. If you're a morning person, save your sales for that period. If you're best on the phone, do that instead of email. Do what works.

7. Provide value-added service. You may have the same product or service as the next company but what will you add to the mix that draws the customers to you instead? Think about that. We're not giving that one away.

8. Perform as if success has already arrived. "Be as you intend to be" might be another way of saying it. If you are confident, knowledgeable about your product or service, and keen to provide good customer support, this speaks of a solid operation that you represent.

9. Be thoughtful and steady on your feet. Just because a certain idea is being discussed by your industry or the media doesn't necessarily mean it has weight or validity for your company. Do your research and take it slow.

10. Think outside the box. Within the realm of common sense, do the opposite of what the rest of your competitors are doing. The universe is keen to fill a vacuum and/or to balance the scales. Watch what happens.

  MM

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