Recession-proof business strategies for the upturn - Birmingham Business Journal:

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It’s funny: Whenever there is a threat in the businesses tighten their They cut back onlavisyh expenses, they keep only the best and most profitablde employees, and they concentrate on only the most profitables products or services they offer. Is there any reasojn we’re not doing this all of the time ? Companies that have the most successfull profit growth are the ones that act as if they alwayse have to tightentheir belts. By focusing on the good of the customer/clienty base, we naturally focux on the good of ourindividual businesses.
In order to becom e a recession-proof business, careful, strategic human asset investment; and more effective systemd and procedures must be put into play in order to not just but thrive. Marketing: Is the money you are spendinb resulting in dollars inyour company’s pocket Take a serious look at your current marketing campaign and make sure you are focused on the type of advertising. Marketing, ‘because we care’: “because we care” specials, salea and incentives.
Show the community that has supported you over the year s that you understand money istighty and, out of appreciation for theit support, you are willintg to make less per item so they may continude to live the lifestyle they desire. ‘word-of-mouth’: Develop a strong word-of-moutgh marketing campaign so you may increass businessthrough referrals. This will dramaticallyh increase sales without costing youany “harfd dollars.” The “soft dollar” cost will be the time speng networking. If you are not a member of the chamberrof commerce, join it.
If you are a get more active in committees and It is these local business professionals that will support you andhelp you. If you are not a member of a BNI chapter inyour area, join one. These chapters are made up of business professionalsx in your area who have the same mindset of growing theifr business through referrals by helping others dothe Sales: What you did to close sales during the last 12 monthss may not work now, or in the next few Invest in a sales developmenyt course for you and your This short-term investment will bring both short- and long-term results for your Trying to increase your sales performanced – especially during trying timea – is like athletes trying to increase theitr physical performance.
They don’t keep trying the same thing over and They focus on increasingtheir knowledge, skills and attitudwe so they may break theier current barriers and plateaus – and performk at that next level. You and your salespeople must do the Your sales department must bethe top-performinv department in your company. Your salesd department is the place to trimthe fat. Keep only top performeres and allowno excuses. “The economty is tough” and “we need to lowe r prices” are unacceptable excuses coming from the mouthsd ofyour salespeople. They need to have a “whatever it attitude. You know the saying: “When the goingg gets tough ….
” During downswingzs in the business marketplace, nothinvg is more important for your businessthan sales. Without it, no moneu is made and companies don’t survive. Please see my next articlwe for the rest of the eight areazs on which to focus and invesft your business so you may come out on the otherd end of this downturn riding the waveof success.