PressPort logo

6 Easy Ways Small Businesses Can Combat Recession - Fast

Press release January 8, 2009 Business

All across the country small business are fighting for survival. Here are 6 easy ways business owners can dramatically increase their chance of survival and growth.

Swanage, Dorset, UK, January 8, 2009 - "You can't just wait this out" says Henry Baker, Dorset Based marketing Expert. "The recession is well upon us and small business must act to survive" he continues. "There are six steps every small business owner should take now to dramatically increase their chance of survival." Here is an overview of the six steps Henry has outlined.

Step 1: Account for every single lead, prospect or enquiry.  You are losing 5% and 50% of the business you could generate through 'slippage'. In tough times the cost of new client acquisition goes up - do not make it harder.

Step 2: Do the opposite. Most competitors will be cutting advertising and lowering quality in an attempt to increase margins - 'when the cat's away, the mice will play'. Increase successful marketing, increase quality, increase prices.

Step 3: Find 'friends'. Recession hits all business and those in your area, industry and outside are looking for help too - so, develop mutually beneficial partnerships. Offer your 'wares' to other companies' customers and they do the same in return.

Step 4: Keep your mouth firmly closed. There is little that can stop employee motivation faster than hearing a company is in trouble. Remember - the market for what you sell still exists. People ARE still spending money. Be the opportunistic entrepreneur - don't 'throw in the towel'. Excite your own and your employee's imagination with opportunity and creativity.

Step 5: Specialise and raise your prices. Focusing on a defined, niche group of prospects and customers allows you to charge premium prices and beat generic competitors.

Step #6: Mine for gold. It is way, way easier and cheaper to extract additional business from your existing clients that it is to go find new ones. To get more from your base you must communicate with them more. Send a newsletter at least once a month and do not be shy to offer products and service that will be of value to them.

Mr.Baker is available for interview, articles and the right speaking engagements and can be contacted on +441929 427744.   Mr. Baker has over 10 years of sales and marketing experience with some of the World's leading corporate sales organizations, as an entrepreneur, business owner, real estate investor and internationally respected trainer and educator. He has directly helped over 800 small business owners grow their businesses and tens of thousands more via his business growth tips and secrets.