4 Proven Ways To Beat The Recession!

I was thinking this morning about what every small business could be doing right now to deal head-on with this Recession. Many of my Business Consulting clients are feeling paralyzed and afraid of taking a misstep and having it be the end of their business. They feel as if their business is hanging on a thread. And they feel that it is getting worse.

So what are the majority doing? Nothing. They don't know what to do. So I came up with 4 concrete things that any business can do right now in this Recession. The key is to not feel paralyzed with indecision and fear. Instead, do something.

I suggest these 4 time-tested and proven ways to help your business succeed even in a Recession. Here they are below. Let me know what you think.

1. Sell More To Your Existing Customers and Clients.

Start from what you've got. Can you sell your products or services at a discounted rate?

My preference though is to determine what specific products or services your customers and clients are needing right now. Then you 'll need to figure out a way to sell that particular product or service to them if it is an existing one, or find a way to produce it, and fast.

2. Sell More To Your MVCs.

Your MVCs are your Most Valuable Customers or Clients. They usually make up about 20% or so of your current customer and client base. In most businesses, sales to MVCs generally amount to 80% of your profits. So you can see why it makes "cents" to target your MVCs. Step one is to determine who these MVCs are in your business. Next, find out what products or services you sell to them that they are wanting at this time. If you don't already provide that product or service, then figure out how you can produce it for your MVCs. Spend a majority of your marketing and sales efforts targeting your MVCs.

3. Develop Your Cash Flow Production.

Look at the method that your business uses to produce Cash Flow. Usually every business emphasizes one or two ways it produces Cash Flow. The question is though, "Are there any other methods you can use to keep producing Cash Flow in your business?" Explore other avenues for producing Cash Flow. Look to your competitors,and even other industries to see what it is they are doing to produce Cash Flow. It could be selling more, selling a different product or service, selling a related product or service, or just applying better Customer Service. All these ways work. See what's best for your particular business. There are also some keys you can apply in your business to "manufacture" more Cash Flow. It's almost like printing money. But more on that topic in my other articles.

4. Design And Produce A Better Product or Service That Targets Your Market.

Build a better mousetrap. What products or services do you currently produce? Which ones are selling better to your customers in general, and to your MVCs? Are there any other products or services that your competitors are providing that you are not at this time? What products and services are meeting the special needs of your target market and your MVCs right now in this Recession? The trick is to look to see what they want and need, not what you want to produce or provide. As the marketing cliche goes, "Find a need and fill it."

Well, there you have them. The 4 proven ways to beat the Recession. And here's a plan to implement them. Take the next 4 weeks. On Week No. 1, start working on the first way to beat the Recession in your own business. Follow on to the second way in Week No. 2. Get the picture?

If you're consistent, and determined in your application of the 4 proven ways to beat the Recession, your business will not only survive, but thrive in any economy... Recession or not!

Copyright (c) 2009. Miguel Mendez, Jr. All rights reserved.

By: Miguel Mendez, Jr., Esq.

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