Summary: The key to limiting a loss is
quick reassessment and recommitment to growth goals.
Wall Street predicts a 25% chance of recession in the next
year and small businesses are clamoring to ride out the next tide of a continuing soft
market. Many small businesses find the current market place more competitive as big fish
dip lower into the food chain to overcome business losses.
Those little jobs they ignored (the jobs one person shops
thrive on) are being gobbled up to replace lost revenues from big accounts now in demise.
What can you do to protect yourself? Here are some tips to
help you solidify your client list:
1. Stay in touch with clients whether they have a job in
house or not.
A casual lunch, a quick call or a less invasive email will
renew and remind a good client of available services without pressure. It's easier to
maintain a relationship than establish a new one.
2. Call the vendors you've used most; they know who's
buying and succeeding even in a slow economy.
Make friends at all levels of your industry. You never know
where your next job referral will come from.
3. Maintain industry presence; even though things are
slow, stay active in professional affairs.
Attend that monthly meeting, press the flesh, and work for
charity to show off your creative skills.
4. Revamp your website, then send out email announcements
about the eye candy you've just displayed.
Be excited about your work and that excitement will attract
business.
Above all, stick to your weekly phishing schedule. Cold
call new clients whether you need them or not. Successful entrepreneurs always have a few
new clients ready to step in to replace those who step out. What's the real key to
success? Get up and get busy -- there's no time for sulking.
©2005 Susan Kirkland |
