Tough Economic Times: Small Business

Be fair, attentive, and customers
will return.

A small business can survive tough
economic times by keeping a positive
attitude, not giving in to fear, and
involving employees in the
organization's decisions.

"I better sell, because gas
prices went up again!" You
blurted.

"Banks still goin' under."
A business partner pointed
out.

If you think the worse will
happen, your actions and
decisions will lead you to
failure. You'll sink deeper
into negative thinking. You'll
stop looking for leads, being
productive, and demanding
the best from employees.

Don't let your dream die
unnaturally. You worked
hard on building, maintaining,
your business. Don't
drop everything when
times are hard.

Besides, some businesses
are profitable in a recession.

You can't control what happens
in the recession, but you can
control how you react to it.

A positive attitude will have
you looking for new
opportunities.

Survive a recession by keeping
your customers happy. Let them
know you're in business. Find out
what their interests are. Would they
like contests? What do they like
about your line? Is a certain product
doing well?

Get rid of products or services
that you're losing profits on. Invest
in those products or services that's
showing a profit margin.

See if investing in a product
or service customers like is
feasible, profitable.

Continue networking. Your
focus is on the factors
you have control over. Meet
your deadlines.

Next, it's not uncommon
to feel fear in tough
economic times. Use the
fear, energy, to work toward
your business goals.

Talk to supportive
friends. People who
see the glass as half full.

The advice of friends or
relatives pressing you to get
rid of a your business should
be weighed against other
factors.

The recession will end, and
business will pick-up. A friend
should say.

Keep fear in its place by placing
a note on your computer, work-place,
mirror, door, bathroom, coffee pot,
and any other place you feel is
necessary.

A possible note: I'll look for
a new lead today. Or, power
networking is the goal today.
Another idea: The recession
will end.

Lastly, keep employees
informed of lay-outs. Allow
them to know information
before the actual down-size.

The work-place atmosphere
should be team oriented. Everyone
works toward the organization's
goals.

Employees will appreciate
it, and become loyal to
you, the business.

Have meetings often.
Let employees give their
advice on how to improve
profits. Allow them to give
recommendations on making
the work-place better, more
productive. What product or
service do they feel would
compliment your existing
product or service?

A small business can
survive tough economic
times by taking a common
sense approach. The above
steps will guide you.