Author Ed Bejarana
Last week your employer gave you a final paycheck. This week you face the grim job hunt reality, too many applicants, not enough jobs. Is now the time to strike out on your own? Millions of Americans are taking fate into their own hands and starting a small business.
Startup businesses are nimble and price flexible. The smart entrepreneur who guards their cash and streamlines their operation will have the advantage over big business. During recessions, customers will trade loyalty for price: if your small business can do it cheaper, then your business can capture market share.
Big Business Equals Big Overhead
Now is not the time to take financial risks. Hold on to your cash and focus on expanding your market. Use affordable marketing (community papers, SEO, and networking groups) to expand your customer base. Do not go deep into debt, leave that to your competition.
Keep Your Prices Low and Offer Bundles
What is your current margin? Can you live on less? The goal right now is get by and grow your customer base. When the recession ends, you’ll be in a much better position to turn big profits. Bundle products and services together then deliver amazing service.
Use You Website To Reach More Consumers
Refocus your website to build new traffic streams. Optimize more web pages on fewer keyword topics. Write great content and blog about it everywhere. Use your spare time to increase your internet marketing. Internet marketing can be your most affordable marketing tool, but don’t go crazy. The goal is find MORE customers.
Ed Bejarana
Zenith Exhibits, Inc.
(503) 709-1454
Posted in Internet Marketing
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These are some good ideas! I was caught in the last major recession of 2002. I worked in my same field as contract labor. It allowed me to survive until I could find a full tine job.
To many small businesses don't spend enough time with their website. So many are just plain bad. And its not things that are hard to fix. A small investment and a little thought could go a long way in making a site way more customer friendly.
I have both a standard "brick and morter" business and an internet business. The standard business is well known in my community and is doing fairly well all though the current economy is evident. The internet business however, is growing geometrically, quickly overshadowing in 2 years what has taken me 16 years to build in the "real world".