Is your small business feeling the strain yet? If it hasn’t, it most likely will. Money for small businesses is supposed to start flowing again as the Fed provides more funds through the SBA loan program and banks are encouraged to lend more. But there are less consumers/businesses and they aren’t buying as much as they used to.
So what is the priority? – PLANNING!
Planning has to be an on-going weekly (daily?) function now. Yes, planning – “Determining a course of action to follow.”
Quit being discouraged and come up with a thoughtful plan of action!! Get your employees, your customers, other professionals (SCORE.org, Small Business Development Center folks, …) together and discuss:
- How can we serve our customers better?
- What new products or services might we offer our customers?
- What NEW markets might fit our core products and services?
- Where can we cut costs?
- How can we increase sales (to existing customers, to new customers?)
- How can we retain our current customers?
KEEP ASKING and looking and you WILL find some answers which will help your business survive and perhaps thrive during these tough times!
Don’t forget to keep current on trends by reading publications like BusinessWeek.com, Inc.com, Entrepreneur.com, USAToday.com, the Wall Street Journal, trade and association publications and others. Ask, What do these trends mean for me and my business? What action do I need to take now?!
Here’s wishing you the very best – You WILL make it work!! You WILL prosper!!
Dick McCormick www.BizSuccessWithLess.com
Check out: www.PeakPlanningSpecialist.com
Tags: Planning
