Growth in Tough Times

While the Economists have told us the recession is over, we all know that the job market and unemployment are still terrible.  For small business owners, this usually translates to lower sales and profit.  So, what are we to do in these tough times?

1. Know your target client - I have always advocated taking the time to describe your ideal client in detail - what are their demographics, what do they like to do, where do they live, what makes them unique?  In this economy, you should also ask yourself if you need to modify your target customer.  You want to target a market that is spending money.
2. Reach your target market - Once you are satisfied that you have defined your target customer, you need to figure out how to reach them. Are they internet savvy, do they use mobile devices or print? Where do they go for recreation?  Where do they work? Are there leads services or groups you can join that will target them? Are your marketing activities directed at reaching them?
3. Provide exceptional customer service - People often think that price is the determining factor in awarding a job, but providing exceptional service - going above and beyond, carries a lot of weight.  If you can demonstrate that you are responsive, eager to do whatever it takes and then some, and that you are honest, customers will usually pick you over your competitors.
4. Differentiate your company - Figure out what sets you apart and above your competitors and promote that with the public at all times.  Publish referrals that highlight your strengthens. Come up with a tagline that communicates the same message.  Always be "on" when it comes to promoting your business and your efforts will be rewarded.

Regardless of the economy or job market, there are companies that are still growing.  Following these steps should help you do the same.