One of the most reasonable approaches to surviving an economic downturn is to slash all unnecessary business expenses. In their panic to save money, wild-eyed and frothy-mouthed entrepreneurs begin looking suspiciously at their marketing plans. On the surface, advertising cutbacks would seem to be a logical choice. Why Entrepreneurs Make the Mistake of Cutting Their … [Read more...] about How Cutting Your Marketing Can Kill Your Small Business
Business Recession
What to Do When “Business as Usual” Doesn’t Work Anymore
Is your organization one for whom "business as usual" no longer works? Whether that result is precipitated by fewer customers, budget cutbacks, employee layoffs and/or furloughs, or some other unplanned change, the point is that you find yourself having to do more with less. The question I hear most often is, "How do we operate given our new reality?" There are three … [Read more...] about What to Do When “Business as Usual” Doesn’t Work Anymore
Making the Most of Your Down Business Cycle
When I first started coaching my mentor coach warned me that August and December tended to be slow months while January, April and September were the busiest months in terms of clients seeking coaches. Armed with this information, I was able to build a realistic income forecast for my business as well as plan personal downtime. Planning around my business cycles is one key … [Read more...] about Making the Most of Your Down Business Cycle
How to Avoid Business Failure & Increase Sales in a Lagging Economy
When you're a small business owner there's no "Golden Parachute", no massive severance package or stock options to cash in on and there are definitely no bailouts. The success or failure of your small business is all on your shoulders! Here's are 5 things to do if you want your business to fail when the economy is weak: Don't do anything Don't do enough Don't … [Read more...] about How to Avoid Business Failure & Increase Sales in a Lagging Economy
How to Create More Business During Slow Times
When times get complicated, it helps to go back to the basics. Many companies are exploring how to motivate and engage staff as well as attract customers and maintain their satisfaction with limited resources. What can a business do during a slow time that makes work lives meaningful and increases customer satisfaction while not upsetting the budget? It's remarkably … [Read more...] about How to Create More Business During Slow Times