What happens to small businesses after the Christmas Holiday???

Today's economy is a train wreck and unemployment is at unhealthy levels. To stack more bad news on-top of that, after Christmas and the holidays consumer spending will drop...Are you ready? February is usually one of the hardest hit months in the retail industry. So with that bad news you have two simple options as a small business owner: Fight or Flee.

If you are still reading this Blog you obviously have decided to FIGHT and that is the only option.

You are not alone in the fight. There are thousands of business owners facing the same threats, challenges and problems, but together we can overcome. We have power in numbers and can maneuver faster and react quicker than large corporations. This enables us to step up: deals, cross promotions, partnerships, grass-root marketing, etc a lot faster. To use an alpine climbing term: We are going to travel "Light and Fast". Light means to carry as little weight as possible and Fast is getting from bottom to the top of the mountain and back down as fast as possible with no fixed ropes or pre-established camps. The risk is higher because the margin for error is small. We are going to move light and fast as small businesses and our margin of error is tiny.

Here is some ideas for moving Light:

• Look at your employee's and find out which ones are not producing. Employee's should be hired in a small business to produce a final product, which should be used as thier measurement and evaluation. The product does not have to relate to money, but we like it to as much as possible. For example: One of my employee's has the role, within marketing, to establish as many community connections as possible that will allow one of our businesses to promote itself on-site. Through metrics we track employee performance and determine if they make us money or lose us money based on the number of business alliances and return. Do not have employee's that clock in and clock out, you are wasting money...get them producing.
  
• Another way to move light is to re-evaluate your vendor relationships. Several of the companies we have had the pleasure meeting had long-standing advertising relationships with magazines, radio, and other outlets. The relationships had been on auto-pilot for years and value was not being reciprocated by the vendor. In Marketing, always make sure when you sign an advertising deal that there is free benefits being added to the pot. Think very creatively about how to utilize the relationship to the absolute maximum and then negotiate an even better deal. Reevaluate all your relationships and shop around, you may saving big $$$$. Everyone is hurting in this economy and there are incredible deals to be made, you just need to ask.
  
• Alpine climbers take cutting weight extremely serious and will go as far as removing all the tags from all their clothing they plan to wear and even the draw-strings. So with that in mind, now look at your expenses and keep only what you need to survive. Look at the reality of owning a small business and cut out the luxury spending or anything of non-value. Many owners are inclined to cut marketing first; well how can you increase income with out getting in front of customers and driving them to your business. Carefully consider cuts and make sure they will not be the ones helping to drive in potential customers.

Here is some ideas for moving Fast:

• Leave your office once a day and visit 3 other businesses. Visit them to introduce yourself, put up fliers, establish relationships, etc. The point is, you need to get away from the confinement of your office walls and beat the streets. Get out an establish relationships that will lead to both parties making money. Is there a complimentary or cross-over business that you should be working with? Now is the time to act.
  
• Create an event for your customers and ask them to bring there families and other colleagues that may be interested in your business. Referrals are a huge way to get business fast because there is trust in recommendations. Ask all your vendors or colleagues for 3 referrals.
  
• Lastly, make phone calls. Call your current customers, just to check in and make sure they are happy with your products or service. Or cold call (that dirty word) new potential customers and try to establish relationships. The phone can be a highly effective communication tool and you need to learn to not be scared of picking it up. Call 3 new potentials and 3 existing customers per day. Should take 30 minutes at the most.

These are just a few of the things you can use to travel Fast and Light in the risky world of owning a small business. Here is one task for you after you are finished reading this Blog: Call one business and establish a system of cross promotion. You will be amazed at the success rate and willingness of other businesses needing to increase revenue too.