Learn How to Do Fine in 2009: Seven Steps to Help Your Business

[Stacy L. Alario, FCBI]

If the economy gets any worse can YOU SURVIVE in business the approaching last quarter of 2009 and into the future? As we progress into the final months of a very difficult year for most, and with shops and restaurants closing their doors all over the county which is starting to look like the norm. As there are still many uncertainties about our financial times, will you be prepared for the rest of the year or will you be forced to close up too? Business owner's small or large alike need to focus on business goals and keep a positive attitude to guarantee that you will be fine in 2009- and into the future. This is what will separate you from competitors in your industry. Surviving hard times takes pure determination and hard work. To help you get by in today's ever changing marketplace, here are 7 Steps that Will Help You Do Fine in 2009 and beyond.

Maintain a Positive Attitude and Don't Create In-house Fear: Just because you're anxious of what the economy will do next doesn't mean that everyone in your company needs to be troubled as well. Staying on track and focusing on business goals will help everyone maintain a positive attitude and make certain that the company stays focused on generating sales and increasing revenue.

Have a Plan: Simply put, a good business plan is designed to position your business to ensure profitability, not only for short-term goals, but also for your company's long-term future goal. A business plan is an important decision making tool to help guarantee you meet your company goals.

Always Keep Customers First: Customers are the fundamental key to your company's success, and without them, your business wouldn't exist. So, whatever you do, don't shrink the quality of service you provide. Offering reward programs or member discounts are great ways to hold onto current customers and clients and a smart way to attract new ones.

Manage Payroll: Controlling and managing payroll is difficult during any economy especially during a turbulent market. The main key is to lower payroll by decreasing the amount of overtime worked and limiting the number of days worked rather than terminating employees. After all, you do have to have employees to keep the wheels on the wagon rolling!

Keep Key Employees Motivated: Business owners need to make sure that all employees are constantly motivated. Daily interaction with staff members will help make sure that the company's moral is up. Another tip is to offer incentive programs during tough times. This will reassure employees that they are an important factor in the business and in turn will create a better working, content, and productive employee.

Find New Business Opportunities: Think outside the box and become aware of your processes. Establishing a consistent marketing program is crucial for finding new business opportunities. Develop innovative and fresh ways for attracting potential clients. Search new markets and industries. In all, do anything your competition isn't doing.

Don't Be Wasteful: If something doesn't work don't continue to spend money on it. Being wasteful only contributes to taking money away from your bottom line.

Remember flat or declining markets don't last forever. The question is will your company prosper in the meantime.

For more information on How to Do Fine the rest of 2009 and beyond.... Call Stacy L. Alario, FCBI and American Business Brokerage, Inc. at [phone] or email Stacy at [e-mail]

Stacy L. Alario and American Business Brokerage have been confidentially assisting and consulting business owners for over thirty years.

[Doug Ross]

These are excellent tips to position one's business for the recovery! Nice work.

Doug

[marlene cooley]

good advice. I will print this up and post it on my board @ work.
Thans