Survival Tips

General Tips

Talk to your major customers face to face; make sure you know the CEO as well as the person you’re actually doing business with.
Make attempts to add services, add value to your product or service.
Focus on what’s made you prosperous in the past.
Communicate with your customers over any necessity of rising prices (due to rising fuel prices, steel, etc.)
Consider making better use of under utilized employees.
Rebid all contractual services.
Meet with vendors to anticipate any cost increases.
Meet with your banker to determine if there’s any way to reduce loan carrying costs.
Make sure you take advantage of Section 179 Expense Deduction (you can now take up to a $250,000 deduction for qualified purchases of equipment).
Re-establish quantifiable objectives.
Hold everyone accountable.
Don’t lose focus on must-do’s.
Encourage employees to be totally committed to the business during this trying time. Every business is not going to make it.
Control expenses: travel less, maybe even share hotel rooms.
Quit selling to manipulate; instead, replace with helping.
Take full advantage of your many Chamber membership services.

Make sure the marketplace clearly understands what your company stands for.
Social Marketing is free – research sites like Facebook, LinkedIn and other social sites and find the ones that are right for your business
SEO – search engine optimization – make sure your site is easily “findable” through key search words
Blogs – write a blog and showcase your expertise. Or contribute to other blogs that appeal to your target market as an industry expert
Network – “word of mouth” doesn’t happen by itself; you’ve got to work to get people talking about your business. Join associations, attend holiday parties, participate in your community and hand out your cards whenever you have the opportunity
Customer Loyalty Programs – reward customers who do business with you often with discounts and perks to keep them coming back for more
Non-traditional Advertising – take advantage of marketing benefits you receive for free from associations you belong to; advertise in local newsletters, church flyers, condo associations, etc.
Sampling – one of the easiest and least expensive ways to get your product or brand into the hands of your target market

Blizzard sale! Winter clearance sale! Take some significant mark downs on overstocks. Below cost if necessary. Create some cash flow. Buy one get one free. Free gift with purchase.
Sale banners in the windows – take some items 70% off – have the banner say, “up to 70% off”
Email customer list about super sale items- email them your sale flyer
Create flyers with details about the sale items- hand them out to customers as they enter the store, see if restaurants might let you leave flyers with them, college bulletin boards, at the skating rink, etc.
Promote any special services they offer – free gift wrap – free shipping
Spend $100 take an additional 20% off
Activity breeds activity- move the store around – create sale areas in the store- stack them up- let them fly
Negotiate with vendors, lenders and landlords – let them know if you need help