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Scenario 1: As a small business owner if you are short on cash then you may have to start liquidating your inventory by lowering the price a bit. Also, cut back on utilities and hours that may not be helping your business. On top of liquidating start looking into the service industry if you already do not partake in it. You may be able to help your business by providing consulting or technical support in that particular market. This may help provide another stream of income. If you are really strapped You may want to shop around town and see who you could merge with. Obviously, this is tough decision on you, but it maybe your last hope.

Scenario 2: If you are fairly liquid and have some cash to back your business you may want to investigate the market for places to open up another shop. Right now is the best time to buy as the prices for real estate and labor are declining. Many people are looking for jobs and if you can provide a steady income then you have a lot of bargaining power. Stay focused on your business model, but do not be afraid to take a little more risk.

Scenario 3: If you notice that the market is slowing down near you, you may want to take a step back and see where your service or product may do better. For instance, if you are in construction in Miami, you may want to start looking more inland or near Mississippi where people are still rebuilding from hurricane damage. Luxury markets are at all time lows so start seeking other avenues. Another option for a slowing market is to take your business online if possible. The Internet opens the doors to the global market and if you haven’t already attacked that market it maybe the one market that helps keep you floating during these tough economic times.

While you maybe concerned with what is going on in the market you should always keep your eyes peeled for opportunities. The only way you can ever see opportunities is staying educated in the current market trends and examining the industries that do better than others in expansions and recessions. Do not give up hope during these tough times, you must keep your ambitious entrepreneurial mindset. This mindset is what will get you through both good times and bad times.

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First, just has everyone has stated in the news, try extending your sales period. I would say not only extend your sales period, but try to capitalize on customers returning items. You already have them in your store so now it is your time to convert them into another sale. Where do you advertise to them? Use the Internet to your advantage! Start your gorilla marketing campaign now!

Facebook ads and Google ads are at low prices. Did you know that the typical person spends more time on the Internet than the TV? Then why aren’t more people advertising on the Internet? Because most small businesses still do not know how to use these resources. Figure out how to advertise on the web and make more sales online and you can guarantee that your bottom line will be up.

There is one other point I would like to make that most businesses are overlooking, which is simple economics. Do you remember P (Price) x Q (Quantity) = TR (Total Revenue)? This means do not be stubborn in these times of financial troubles. Instead, try to turnover more inventory and take the profits you can get without putting yourself out of business. The thought process is that you will sell more items because they are at a lower price, which will still help you get to your goal. Your goal is to make money, not hold onto inventory. Why hold out for a higher price when you can convert the sale now? 

If you are able to capitalize on both of these points you should be able to last throughout this recession and gain a competitive advantage on your competitors. Remember you are in business to make money, so do not be stubborn and be willing to turnover your inventory so long as you are making money off the transaction. I wish you the best throughout this recession and Happy Holidays!

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1.) Blog about it! In order to gain more attention on the Internet you need content, so starting with a blog will help inform your customers and allow you to gain more visibility from search engines. The more active you are the more your site is bound to be crawled as long as you are providing genuine content.

2.) Facebook it… This means start a Facebook account and start the conversations with past contacts and new contacts using Facebook as a marketing channel. Using Facebook you can create a business page, a group, post notes, share videos, etc. All of this information gets posted to the news feed and then wham people start asking questions. Remember when posting on Facebook you need something catchy just like a TV commercial.

3.) Tweet, Tweet on Twitter. Many companies are using Twitter to track customer input and promote new products that they have to offer. You can gain a lot of valuable feedback and learn what your customer wants and how you can support them with their need.

4.) Visit other Blogs. Visiting other blogs will allow others to see that you are active on the Internet and at the same time you can gain more knowledge on you topic of expertise. You would be surprised by how much you can learn by surfing sites that are of your same interest.

5.) YouTube Talk. More people are using YouTube as if it were there own nightly television entertainment. You can create your own channel and discuss your business or promotional ideas by creating viral videos that people want to watch. You can then share them or embed the html coding on other sites like your myspace or facebook account. 

6.) Provide a podcast. Almost anyone you run into has an iPod and many people have a daily podcast that they listen to or watch. Why don’t you create a tip of the week that your customers can check out. This will expand your marketing channels to spread your message. 

Anyway, I wish you a safe and Happy Halloween and I hope these little tips can get your small business’s feet wet in marketing in the social media realm.

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First, the business card is an essential way that people will keep tabs on you from a social event or convention. A business card explains the type of business you are even without the text that is embedded on the card stock. The card stock explains if your business is a push over or is serious about business so choose wisely. If you have a vista free business card stamp on the back you can forget the phone calls. Business cards also are more attractive when they are embossed or have an interesting feeling to them. I once was given an aluminum business card which absolutely blew my mind. I can find it in my pocket before any other card because of the metal is very distinctive compared to paper. See what you can do about spicing up your card.

Second tip involves your attire at these functions. Why does everyone have a polo on? If you can show off your business, but yet stay formal compared to your competitors then you are a huge seller. This means wear the suit with a decorated name tag and you could be golden. 

Third and final tip today involves the use of pen giveaways. Pens are such a wasted if you’re buying a cheap bic pen with your logo. I am not saying to spend more by the way, I am saying be more creative and forget about passing out pens. You could give out a jump drive, tire gauge, t-shirts, etc. Preferably try to keep it related to your line of work, but get something that is going to last. I still wear a t-shirt my attorney gave me five years ago, I have already lost half the pens that were given to me last week.

The key is to do more, which in turn should produce better results and help get you noticed. Don’t just follow the crowd, but rather be the leader of the crowd. Let the crowd react to what you’re doing. This puts you in the driver seat and helps you get a better grasp of the customers waiting to spend the money in your market. Be different but yet professional and the you will see the true results in the near future.

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First, know your responsibilities! Vince Lombardi said it best, ”There are three things important to every man in this locker room. His God, his family, and the Green Bay Packers. In that order.” Obviously, your responsibility may not be the Green Bay Packers, but your business. Business is not everything, but at times you have to step back and give your family some of your time.

Second, when was the last time you took a vacation? God rested on the seventh day, so what are you doing? You need a mental vacation from time to time. It can be very beneficial to get away from the situation so you can relax and maybe even rethink about some of the issue you are engulfed with at that very moment.

Third, schedule your time wisely and use your time effectively. After reading “The Four Hour Work Week” I have learned to schedule my time in a manner that produces the best results for my clients and for my family. I work only during the week from 8-5. After 5pm I am off the clock which means all lines of communication are also off with everyone but my family. This is very difficult, but it has given me more freedom and a whole new view on my work philosophy. It means that I work harder from 8-5 to get all of my items achieved and I also can enjoy the time I have with my loved ones. You must try this trick and you will see a huge difference in your moral.

These three issues were a result of me going into a comatose after being over worked and over stressed. I finally decided to stop all business and pass off all responsibilities to my colleagues while I went on a mental vacation. I am now working harder than ever and able to delegate more of my work without having to worry. My family sees me more often, I eat on a normal pattern, and I am enjoying life. Good luck with your business and from time to time sit back and smell the roses.

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First idea, clean your workplace. If you care about your store so will other people. “Cleanliness is next to godliness!” Too many times I have walked into shops that have dusty counters and dusty items. If your items are dusty what does that tell your customer? It means no one is buying your product, which signals to everyone else that this is not a product worth buying.

Second idea, keep your storefront noticeable. Change it up from time to time to keep gaining attention from foot traffic or drive by traffic. People like to see the new kid on the block or the trend setter. If you can mix up the storefront you are bound to bring in new traffic that may have never noticed your store before.

Third idea, if you have the ability carry the product for the customer or open the door for them with a smile. Better yet walk the customers new purchase to the car with them. Remember about twenty years ago where the bag boy would actually offer this service? That image sticks in your customers head that you really care about them. That’s what your customer wants, a person who care about them.

Fourth idea, learn how to use the phone. Email has been overused and is beginning to kill customer service in the small business industry as managers rely too much on this method of communication. Did society learn how to speak through the phone rather than texting? So, here is an idea pick up the phone scroll through your list of customers and call them. Call them to say hi, call them to say we’re still here and we miss seeing you in the store. Then say, “Is there anything we could do for you or Is there something you have been looking for lately?” It’s an interesting marketing strategy isn’t it? There is no marketing like personally reaching out to your customers.

Fifth and final idea, clean and astonish people with your restroom. This is usually the last place anyone takes care of, but if a customer ever uses it they tend to make some kind of comment about it afterwards. So, I say clean it and make it look marvelous. McDonald’s has been known to be a great pit stop because not only do they server food, but there bathrooms are usually spotless. This turns out to be perfect on road-trips as you can make a convenient rest stop.

Every detail counts and in todays world it can mean the difference of you staying in business compared to your competitor. Paying attention to the little things can make a big difference.

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In order to plan for the rough road make sure you have written notes in your business plan for troubled times. These troubled times could be economic downturns, major disasters, employee strikes, etc. If you can plan ahead for problems you can limit the damage being done to your company or brand. This shouldn’t be a one time occurrence, but you should do this every year when you are doing your one year outlook as well as your five year outlook. 

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A big plus is the social media optimization you get out of using video. After doing some consulting for some clients I have been able to get many of my clients onto the first page of Google within hours of submitting videos and content for them. Is this magic? To some extent it is know which buttons to push and realizing which keywords will help you reach that status. A good place to start is uploading video to YouTube.

To build a viral video you need to start with something that is pretty catchy and sticks with the viewer. If you create a lame video its just like creating a lame paper advertisement, no results. Be creative, but still get the point across. You can do a lot now in this day and age with digital video cameras along with a nice video program. I bought a HD Digital Camera for about $150 and a SD card for $20, which has helped me produce very nice coverage. I bought a tripod as well which helps keep my scenes steady.

Lastly, have you noticed some of the movements in new technology? There is a blog about everything and podcast about everything, but there is less video online about particular topics especially regular episodes on topics which may be a begging opportunity for you to gain more attention online to generate more traffic to your site or store. 

If there is something you would like to tape about your store or you need help getting videos online please let me know by leaving a comment and I would be happy to help you. In order to get in touch with me please leave a comment or email me. I look forward to seeing your next video!

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The new Facebook profile was changed to help give a cleaner presentation and make it simpler for users. However, I feel that the new profile was built to aid the developers. Facebook has taken away “The Wall” and has replaced it with an improved news feed. Why they didn’t just improve the feed and keep “The Wall” we will never know.

The site is taking away the highlight of your applications and removing the knowledge of what network you happen to have friends in. The site is pulling further away from its roots and still not coming up with better solutions to gain a better revenue stream. I suggested that if they wanted to improve their revenue stream they should reevaluate how they used the “Marketplace” feature as well as giving real gifts instead of just mere digital gifts. 

I was disappointed when Facebook opened the network to everyone and I am even more disappointed in the modifications they have made to the Profile. The tabs feature replaced the “hide buttons” and made the top of the page more cluttered. The focus is no longer on who you are but what you are doing. This is probably Facebook trying to compete with sites like Twitter. Being able to comment directly on the “News Feed” is nice, but I think this could have been done without totally overhauling the Profile Page.

I think Facebook should reevaluate some of their changes and keep some of the things that made Facebook different from every other social network. They are now just another social network who has trapped their users for the developers taking. Maybe this new tactic will provide more financial gain for this now heartless site.

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