10 Tips So You Survive The Credit Crunch

Your business, every business, faces issues at the moment because of the fear generated through the current economy. That fear has slowed demand and made some organisations delay orders to their suppliers and consumers put off their own purchases. We can all see it simply by watching the news every day.

In fact now is the time that enables you to concentrate on polishing the way you do business so that you’re ready for the upturn. Don’t think there’ll ever be one? There always is…

Plus looking at ways you can improve your lead to order ratio and reduce your customer loss.

To help businesses I’d like to offer these 10 tips to continue to grow your business.

1. Stop working so hard on tactics, step back and look at your business strategically
2. Implement a joint venture partnership to access your particular prospects
3. Use the Windows of Opportunity matrix to see if there are products you believe your current clients need that they don’t yet get from you
4. Improve your current sales processes, do it for an hour every week, until it works brilliantly
5. Innovate to create new, or better products
6. Use strategic marketing to get your message to your key customers and prospects
7. Look at your whole business with your entire staff. Improve one process at a time
8. Manage your time more effectively (I’m currently writing a book on this as it’s a subject particularly close to my heart as an ex IT Project director!)
9. Institute regular weekly staff training, it doesn’t need to be for more than 60 minutes, but it does ensure your staff learn the best ways of doing their jobs
10. Look at the assistance you can get from government bodies (I’m currently going through accreditation as a Business Link supplier – I’ll let you know how I get on)

Above don’t let the fear the rest of our economy is showing affect your attitude. You need to be confident that your business will survive. Follow these tips and you’ve got a much better chance of doing that than people who don’t!

If you’ve got a particular low, or no cost, tactic or strategy you use let us know by making a comment.