The Ten Golden Rules to Accelerate Your Business During Economic Hardships

In the last few weeks we have all seen the media talk about the recession or the economic crisis in the states. It seems to be affecting all business and different countries and a lot of business owners are worried how it will impact their business. In turn the consumer buying power has for some businesses dropped. Consumers are more considerate when buying products and are very conservative mostly when it comes to each transaction considering twice before they pull out their wallet

With this challenge in the economy some business are being even more conservative with their daily operation while other businesses seek opportunity. The successful businesses are taking this opportunity to outsell their competitors. Business that are pulling out are being acquire for very cheap rates, employees who are being laid off are easily being cherry picked by competitors and products that have a low advertising budget have some competitors increasing their marketing budget. At the end of the day one mans meat is another mans poison!

There are really 10 golden rules to accelerating your business during this so-called recession!

o Be an aggressive seller
o Focus on your niche and highest converting products
o Increase your budget for marketing and increase customer contact with your marketing

o Make it easier and convenient for your prospect to buy your products
o Focus on the value of your product for your clients and the return on investment they will receive
o Up-sell your old customers
o Be cost efficient
o Acquire businesses that still have a good business model and a potential to succeed
o Improve your business model and work on its challenges
o Keep your top performers and transition out the under performers