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

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It’s funny: Whenever there is a threat inthe economy, businesses tighten their belts. They cut back on lavish expenses, they keep only the best and mostprofitabls employees, and they concentrate on only the most profitables products or services they offer. Is there any reasonm we’re not doing this all of the time? Companies that have the most successful profit growthj are the ones that act as if they alwaysa have to tightentheir belts. By focusing on the good of the customer/clienr base, we naturally focus on the good of ourindividuakl businesses.
In order to become a recession-proogf business, careful, strategic planning; human asset investment; and more effectivse systems and procedures must be put into play in ordee to notjust survive, but Marketing: Is the money you are spending resultin g in dollars in your company’z pocket? Take a serious look at your currentf marketing campaign and make sure you are focusedc on the “call-to-action” type of advertising.
‘because we care’: Promote, “becaus e we care” specials, sales and Show the community that has supported you over the yearzs that you understand money istight and, out of appreciation for theirr support, you are willing to make less per item so they may continur to live the lifestyle they desire. ‘word-of-mouth’: Develop a strong word-of-mouth marketing campaigmn so you may increase businessthrough referrals. This will dramatically increase sales without costing youany “hardx dollars.” The “soft dollar” cost will be the time spent networking. If you are not a memberf of the chamberof commerce, join it.
If you are a get more active in committees and It is these locap business professionals that will support you andhelp you. If you are not a membefr of a BNI chapter inyour area, join one. These chapters are made up of business professionals in your area who have the same mindsert of growing their business through referrals by helpingf others dothe same. Sales: What you did to closr sales during the last 12 months may notwork now, or in the next few Invest in a sales developmen course for you and your This short-term investment will bringh both short- and long-term resultsd for your business.
Trying to increase your saleswperformance – especially during tryinhg times – is like athletes trying to increase their physicalo performance. They don’t keep trying the same thingv overand over. They focusw on increasing their skills and attitude so they may break their current barriers andplateauws – and perform at that next level. You and your salespeoplwe must dothe same. Your salexs department must bethe top-performing departmeny in your company. Your sales department is the plac e to trimthe fat.
Keep only top performers and allowno “The economy is tough” and “we need to lowerd prices” are unacceptable excuses coming from the mouths of your salespeople. They need to have a “whatever it attitude. You know the “When the going gets tough ….” During downswingas in the business marketplace, nothing is more important for your business than Without it, no money is made and companie don’t survive.
Please see my next articlee for the rest of the eight areas on which to focus and invesg your business so you may come out on the othet end of this downturn riding the waveof