Be True to Yourself...

I read a quote in an article about action sport agent Steve Astephen that struck a chord with me, and I think that it will with you as well...

"Be true to yourself, sleep really well at night and surround yourself with smarter people."

Most people will assume that their problems are caused by someone else, a result of a bad economy or any other number of things. After having read this, I looked back on the failures and successes I have been a part of in my life and realize that this nugget of truth stands out. But some may wonder how this is helpful with their small business? Here are my thoughts on how:

Sleep Well at Night--Whether you require 2 or 10 hours of sleep, be sure that you are clear headed and ready for the next challenge. While this clearly requires more than just sleep, if you are distracted by the things that keep all small business people "up at night", you will miss that one opportunity that could turn your ideas into reality.

Surround Yourself With Smarter People--As entrepreneurs, we can easily get caught up in the world of we are the very best at what we do and that is why we are successful...and that is true. Don't forget that. But when it comes to making your genius a fully functional and successful business, know when to find the right people to move it forward with you. The guys at Google would definitely agree with this thought. Bring in people that can help you create a solid business foundation and that can provide the business stability needed for you to continue to be an entrepreneur. Your entrepreneurial leadership will be the growth engine for your business, but you need to have the others around to help you steer it in the right direction.

Be True To Yourself--You know you best. What is important, your strengths/weaknesses and what makes your small business click. The success that you have had initially is because of you, so don't let Corporate America change that. Many future investors are looking at what makes your company worth the investment. Keep doing what has gotten you where you are and they will see your passion and dedication to your product/service...you being you will get you through.

Don't Stop Marketing Your Small Biz...

In an economy like this, many small businesses are looking for ways to not just maintain sales, but to cut costs. And many will decide that the first to go will be any "extra costs", such as marketing. But I would encourage you to not cut your marketing, but refocus it. You may not have the resources to do a big promotional campaign, but grassroots efforts are usually more effective and are less expensive. I recently came across an article by Bob Leduc discussing low-cost marketing tactics. They are all sound strategies that have worked well for other businesses...

1. Don't Advertise Like a Big Business
Remember what got you the business in the first place--developing relationships with your customers. Big campaigns are all about interrupting your day to get recognition. Small businesses succeed when they develop ongoing relationships with customers
2. Offer a Cheaper Version
In tough economic times, one approach that many consumers take in purchases is to settle for a lower cost item. If you can provide the same great service and support for this lesser choice, you can create a relationship that can be capitalized on when things aren't so bad
3. Offer a Premium Version
This may fly in the face of #2, but realize that a diverse group of people are your customers and that this captures the other type of consumer--the value-added consumer. They buy less often, but they are willing to spend if the value matches or exceeds the price.
4. Try Some Unusual Marketing Methods
Known as guerilla marketing, grassroots and unusual marketing methods are usually low cost and highly effective. Some may not cost you more than the time you spend on them. For some great ideas, try Jay Levinson's Guerilla Marketing website.
5. Trim Your Ads
Make your ads smaller and more to the point. This will not only save you some money or get you more spots, but you can create some buzz which can drive traffic to your location or website.
6. Set up Joint Promotions with Other Small Businesses
Ahhh, the power of synergy. Joint promotions are a great way to spread the cost and get more exposure to new client bases. If you own a landscaping business, you could partner with other home improvement entrepreneurs for increased reach. They aren't your competitor, but they have customers that could use your services.
7. Take Advantage of Your Customers
Don't reinvent the wheel...your customers have the exact relationship with you that you want to develop with other customers. Given them a reason to talk up your business and they will. And you'll be happy with the results of your efforts here.

Regardless of if you do any or all of these things, I urge you to do at least one thing...think about how you are marketing yourself before you decide not to market yourself as much. It may take a little more effort, but you will be glad you did in the long run...

Your Humble Moderator,

Aaron

Welcome to Your Small Biz blog! My hope is that this can become a forum for business-minded people to share ideas to enhance small businesses everywhere. I will post items on a variety of topics I find useful and entertaining, as well as hopefully take your suggestions and help develop those as well. So feel free to comment and share your ideas, because we all know that small business is the backbone of any strong economy. Thanks!

Aaron