ADVICE FROM ANGELA KAMBARIAN Dear Savvy Business Owner, Are you struggling to keep your business strong in tough economic times? And are you overwhelmed by the economic storm engulfing the marketplace? You are not alone. But there is no need to curl up into a ball and accept the worst. Let me assure you that even in this situation a lot of business owners manage to maintain and even increase sales, while their competitors struggle to keep their heads above the water. Please find the time to read my Monthly Tipsheet below, revealing a few powerful strategies to beat the recession. Feel free to share it with any of your partners, colleagues or friends, who you think might benefit from this information. If you DO NOT wish to receive my monthly correspondence, just let me know. And your name will be immediately removed from my database. ********************************************* Six Proven Strategies to Beat the Recession What effects economic slowdown is the way business owners and entrepreneurs react to it. When they start to panic, they make a bad situation worse and perpetuate the problem. As the old saying goes, when the going gets tough, the tough get going. Those who remain proactive, set themselves apart from the pack and come through with strong businesses and healthy bottom lines. So, here is my advice. Don't sit around "wallowing in grief" and worrying about things you have no control over. Pull yourself together, launch a new offensive and come out of this situation as a winner. You can do it. 1. Look for new ways to increase sales. Can your product or service help another business generate more revenue? Reach out to your prospects and play up that aspect of your business. I am sure they will be willing to hear what you have to say. You may have to repackage your services to accommodate smaller clients and reduced budgets. Some businesses slightly downgrade their acceptable customer profile. During a dowturn, you have to be flexible in that area. 2. Maintain your marketing during tough economic times. The fatal mistake most businesses make in a recession is cutting down on their marketing efforts. Evidence suggests that marketers who increase their spending during a recession, experience long-term gains in market share and profitability. In fact, to avoid a slowdown, you should market consistently and aggressively all year long, not just when you need the business. 3. Do not ignore your existing customers. Pay special attention to them. They already know you and trust you. Therefore, they are not taking a risk in retaining your services. Try to reactivate dormant accounts. Call your past clients, say hello and find out what is going on. Let them know that you are interested in working with them. 4. Try something new. Can you think of any marketing strategies you thought you should try, but never did? Are there any alternative revenue streams you would like to put into practice? A smart way to generate some extra profitable business is to encourage clients to add on to or expand existing assignments or purchases. 5. Do whatever it takes to retain a client. During a recession, client retention is crucial. Doing a good job is no longer enough. Go an extra mile, throw in a few extras to exceed your client's expectations. And always keep in touch. 6. Network like crazy! Networking remains one of the most effective and powerful strategies. When you meet people, always mention your business and the products or services you have to offer. It's not the time to be too aggressive or pushy. But don't miss out on opportunities to promote yourself. I hope you will find this information helpful and inspirational. Let me know if you have any questions or comments. Good luck with your endeavors!