Welcome to the Inner Samurai Business Leadership series; in this video, you’ll learn about the 6 ways to Recession Proof your business. Recession Proof your Small Business Now and Forever by Dr. Susan L. Reid, small business start-up expert and business catalyst; and award-winning author of Discovering your Inner Samurai, the Entrepreneurial Women’s Journey to Business Success, find out more at alkamae.com.
As the saying goes, recessions happen; recessions are an economic certainty; what isn’t certain is whether your business will make it through of recession. Will it do just fine with the slight re-focusing and tightening of the proverbial belt, or will it dissolve into ruin, as we are seeing happen to many U.S. businesses today. Whatever you do, don’t bury your head in the sand hoping the recession won’t take place during the lifetime of your business. And don’t make the mistake of believing that the U.S. government will come in and save the day. Instead, take action now to recession proof your small business this year and forever. How? By taking these 6 simple yet effective steps to insure that the productivity and growth of your business continues, no matter what the economy does. Do I have your attention yet?
Here are 6 surefire ways to recession proof your small business:
1. Be known for delivering great products and services. Now more than ever this, this oft repeated maxim is true. Your products and services are a reflection of you or the frontline calling card of your business and are the number one way to make your customers trip all over themselves referring others to you.
2. Stand out by offering an astonishing guarantee; one so amazing that others in your industry would bulk in offering it. Delivering on your astonishing guarantee distinguishes you and gets your business noticed.
3. Add value, not price; continuously adding value to your products and services makes you look rich and attractive to your customers and prospects. Adding price without value makes you look cheap.
4. Connect to give, don’t connect to get; cultivate neutrally beneficial win-win relationships with emphasis on the give part. Ask not what your customers can do for you but what you can do for your customers, then deliver.
5. Commence time and space this year and create what you see for yourself, not what someone else sees for you; meet your own sales goals, provide your own growth incentives and keep abreast of the market so you can remain on the cutting edge rather than waiting for someone else to do these things for you, and
6. Forget about last year whether you did well or not, forget about it, create a new voice. In the words of T.S. Elliott, last year’s words belong to last year’s language, and next year’s words await another voice.
What makes these steps so special? These 6 steps focus exclusively on strengthening your business from the inside at its core. They are not dependent upon outside sources or resources to function or sustain them. They focus on actions you can easily and effectively take now. No long-term planning is required to implement them. They are things that everyone, from solopreneur to company of 20 can do right now. Do yourself a favor, don’t stand idly by with a wait and see mind set, recession proof your business to ensure increased productivity and growth this year and forever. Take action on these 6 steps now; make this your best year ever, you’ll be glad you did.
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