10 IDEAS FOR GROWING YOUR BUSINESS IN A TOUGH ECONOMY

1) This is the perfect time to explore a strategy for growing your business in a tough economy that you don't often read about, anywhere.

2) According to our Senior Creative Director, Jerre Blodgett, "You have to do the same things you did as a start-up business. Act as if no one in the world knows about your business or your offering," he says. "Then, promote your business the way you did when you started."

3) That means back to basics. Formulate a multi-pronged campaign to re-introduce your brand to the marketplace. In tough times, fewer people are buying, and those that are buying are no doubt spending less. This is a perfect time to get new business by increasing your market share.

4) Target prospects that you may not have targeted when the market was booming. Very likely, they aren't being promoted to aggressively by the companies that they have been doing business with. Introduce them to your capabilities.

5) In tough times, buyers become tougher, too. They are slower to buy and want to "kick tires" more. This is a good time to let them know that you are an excellent alternative source of supply.

6) You may have to cut back on expenses, and you may need to trim excess staff. Permanent staff may not have as much to do because of reduced business activity. Establish volunteer teams and do community service. This is sure to win publicity. Talented managers should take on some speaking engagements in the local community. They can teach seminars on various aspects of business management. Send a notice to the local paper that you're doing this, and you'll get some free press.

7) Your clients are probably slower also. Contact them and get them involved with your community activities. This is a good time to bond more deeply with them.

8) You and your staff should get involved with civic groups such as Rotary and Kiwanas, Mens' and Womens' organizations. Race for the Cure. Do anything and everything to get publicity in the markets you serve. Serve on industry committees. Write stories and "how to's" for trade publications.

9) Involve your staff in focus groups to discuss and brainstorm alternative business development strategies. Only good things can come from internal creative sessions focused on getting new business. Think about new markets for your capabilities; try some R&D.

10) Most importantly, don't cut your promotional and sales budgets to the bone. Simply refine your expenditures and cut out any possible fat. Keep selling, promoting, and keep the P/R going.