Small businesses must become stronger just to survive 2009. There is real truth behind the time-honoured business dictum “Grow or Die". The question is; how can small businesses grow in a recession economy rife with bankruptcy from large companies to small? Here’s one opportunity not to be missed.
Swanage, Dorset, UK, January 8, 2009 - We're undoubtedly in one of the most turbulent economic times in living memory. For most small business owners the task at hand is survival.
Yet Dorset based entrepreneur and marketing expert Henry Baker says business owners should pay heed to the time honoured business dictum 'Grow or Die'. "Times are tough and most small businesses are feeling the pinch." says Henry. "However, the worst possible reaction business owners can have is to batten down the hatches and hope for the best." "Existing client bases will inevitably shrink; margins will drop while most overheads remain consistent. A few months of that spell cash-flow disaster and often the end." he continues.
"The alternative is to make moves to cut wasted spending but make even more solid moves to exploit new opportunities. Look for new markets, look for new demographics, form partnerships, identify what existing clients really need now." "And possibly most importantly deliberately look to attract the people effected least and last be recession - the affluent." "The premise is simple, 'go where the money is'." "Doing so does require some changes." Henry asserts. "These include creating 'experiences' rather than simply selling products and services, providing what I call 'bragging rights' giving the customer a reason to 'brag' to their peers about the 'experience' they've had and, best of all a high price. Many business owners shy away from high price concerned they won't sell enough volume but -- to many, high prices signify quality, exclusivity and thus create desire. This is critical in recession. High prices mean higher margins and the need to sell huge volume can disappear."
"It is not 100 times more difficult to sell a Gucci® handbag for £1000 than it is to sell a simple clutch bag for £10 in Primark®. It's not even twice as hard. It fact, given the right audience it is often easier." Henry Concludes.
Mr.Baker is available for interview, articles and the right speaking engagements and can be contacted on 01929 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.