Thursday, June 4, 2009

For the Love of Pete, How Are We Supposed to Survive?
A Few Ways to Succeed in a Troubled Economy.

A money tree should do the trick; however, since money doesn’t grow on trees, we have opted to help you find a few of the easiest and least expensive ways to endure this deteriorating economy.

Believe it or not, spending less can truly work in your favor. Due to the weakened economy, people have the fear of losing everything, but the smart business owners see unadulterated potential for growth. It is not about the amount you spend; it is about knowing where to spend it. There are innovative resources emerging daily. Most of these untapped resources cost little or NOTHING to implement. In this blog entry we are going to help you locate some of these inexpensive resources, such as bartering, staffing, and providing great customer service.

Bartering seems a bit out-dated. However, when you think about it, the benefits of using this traditional exchange can increase your revenue in the long run. How it works: you receive the product or service that you require; and, in turn, you provide your product or service to that provider. The only cost is opportunity cost. But, once the economy recovers, and you have survived in tact, you now have an ally that will remain loyal and that will enthusiastically provide positive word-of-mouth advertising. All while, increasing revenue in the future! Best of all, IT IS FREE!

During a troubled economy staffing decisions are more important than ever. Someone who is lucidly a web designer should not be doing your books. Prepare to learn your employee’s fortes and their Achilles' heels. Knowing each employee’s strengths and weaknesses is the best way to stretch that dollar that you are paying them. Most importantly, however, is to EMPLOY YOURSELF! There is no one that believes in your business or products more than you do. Remember, this is the venture that you started with your desire to succeed; and, it is the same fuel that you need to rekindle your resources. Your life invented by YOU!

Customer service one of the most important components of success in a troubled economy, among product/service quality and competitive pricing. May we suggest adding greater quality customer service, or maybe just a “free” friendly smile? What if you, the owner of the business, went out in the rain and carried an umbrella for them? Most people are more apt to spend their money where the feel appreciated. What does this mean for you? It means that for the cost of a smile, your client retention rate just increased. People are pressured right now; they want to get in, get what they want, and get out. Give them a reason to stick around and see your other products…Superior Customer Service and Appreciation.

One of the best things that you can do is just hang in there; we can help you do just that. There are numerous ways to tap into your untapped resources. Bartering, making certain that your employees are in the correct, “profitable” positions, and providing unparalleled customer service are by no means exclusively the ways to survive this troubled economy. However, their worth surpasses the effort and at little to NO cost.

There have been a multitude of economic ups and downs. And, just as the others have come and gone, like my father said “this too soon shall pass.” If you would like more information on seeing through the numbers, please contact us to see how we can help.

Shawn M. Williams, CPA
Aimee L. Lafond, Office Manager

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