Small Business Can Succeed No Matter What The Economy

by Jimm Fowler
http://www.mywebsource1.com/

“How is business going?”

I ask this question almost 50 times a week while trying to sell my web design and marketing business. The economy is in the tank. The lending to businesses is teetering on the edge of calamity. What are small business owners supposed to do?

They advertise. They advertise and they are realizing the benefit of a web site. This is obvious because I see more and more people building their own business to stave off the failing economy. I see people working on small business ideas because they are so unsure of what tomorrow is going to bring. Our presidential candidates are offering vague suggestions of what they are going to do to help us.

It would seem by the bleak economic news that we see each day, starting a small business would be bad, but people are falling back and becoming self-reliant. What’s more, they are getting business! People still need things. The big businesses are not what drives today’s economy. Small businesses do.

Here is some advice to continue your business in our current financial state:

1. Stick to your guns. Don’t cut your prices even though you may have the instinct to go that route. The money is out there, you just need to find it. People don’t buy things they don’t need because it is 15% off. They buy things they need because they need them. The only thing you succeed in doing when you undercut your product is your profits and the perceived value what you offer.

2. Network and grow. What is your percentage of closing a sale? You need to know that number and then get in front of the people to reach those goals. Waiting for the phone to ring or come in through the door is a failing business plan. Go out and spread your name. Get people to know who you are and then get them to purchase from you. If you can close 25% of the sales you get, and you need 25 sales a month to survive, you better be talking to 100 people each month.

3. Contact those people that you have spoke with in the past. Whether you are sending out a newsletter, blogging, or just picking up the phone – you need to TALK to people that have shown interest in your product. Keep in touch with suppliers, too. These are your lifeline to future business and being on a friendly basis with them will keep you moving forward in the future.

4. Keep looking for financing. Just because the news is saying that we are in a money crunch doesn’t mean you can’t get the funding you need to continue your business to grow. You just have to be smarter in getting the funds for your business. This means you need to have a well, drawn out plan. You have to illustrate how that plan will be implemented and then you have to go after the people who will see your vision and offer you the money to succeed.

5. Finally, keep looking forward. It really doesn’t matter what the economy is doing at this time if you have a great idea. You may have to curtail portions of your idea to meet with the times, but a money-making idea will always make money – no matter what the environment says. If you don’t believe that, go out to your local restaurant area and see if their parking lots are empty. Go into your local shopping district and see if it is a ghost town. Sales may be at different levels, but people are still shopping.

Go forth with your business and succeed. The only thing stopping you IS you.