Truly, I would like to use the “R” word, but I’m trying to be an optimist. Adapting an entrepreneurial business in a down economy is challenging. You’ve got to get creative and stay positive, even while others around you may be faltering. Here are a few ideas: Marketing: It’s important to maintain client relationships without being too aggressive in your marketing efforts. One of my favorite marketing approaches is a simple postcard, mailed every other month or quarterly. Don’t get caught up in the big sale; instead, offer some tidbits of advice that remind your client base of your value. They’ll appreciate that you’re staying in touch, offering resources, and not pushing the sale extra hard. You’ll stay top-of-mind for a low price. (I recommend getting your postcards printed and assembled at Kinko’s or Staples. You can bring them your mailing labels and stamps and they’ll put it all together for you, saving you valuable time.) Proving your worth: This is the kind of climate in which clients most want to understand your worth. You’re likely competing with at least one other service provider, so you need to prepare yourself. Research market prices to ensure you’re competitive. Gather testimonials from past clients to post on your web site, use in your marketing materials, even include in your email signature if possible. Now’s the time to polish your resume, get your clips together, freshen up your sample books…generally get your act together so you can present the full package any time you have the opportunity. Networking: You’ve got to keep those non-client relationships strong, so networking is key. If your budget’s tight, you may be considering letting some memberships lapse…but don’t! Association memberships are comparably low-cost when you consider the networking possibilities. Use your LinkedIn connections to make new contacts, and participate in online communities and list-servs. You never know when a contact will refer you to a new client. Spirit: It may be tough to keep yours strong when you’re frustrated with a business slump. This is a great time to get in touch with old contacts that you’ve let slide, and to rekindle friendships that can offer support. Stay active with organizations and find new ways to hang out with business contacts - attend events together, take a class with a group, join up at a coffee house every week for communal work times - anything you can do to surround yourself with other creative, entrepreneurial folks. These are just a few suggestions that have helped me stay strong through the years. I would love to hear more of your tips so join the conversation!
Comments:
1 Comment posted on "Theme of the week: Adapting your business during an economic downtown"
rickey gold on April 22nd, 2008 at 4:52 pm #
Excellent suggestions, Jenni! I like your postcard idea. It’s a soft sell, casual kind of marketing. However, I’ve picked up business in the past sending out a brief value-touting message. I’m partial to having cards printed at one of the online services where they have great deals going on right now. There should be a list in our Resources section since we just discussed this. Under Maintaining Client Relationships, I’d add “picking up the phone”. Might be just to say “hi” and see how things are going. Since so much of my client contact is via email, I find it’s important to connect by phone periodically. Keeps you front of mind. Keeping spirits up requires some stretching. Even those of us who’ve weathered “R” word economies before need to be reminded that this too shall pass. To avoid that disheartening feeling that most indies associate with the the “R” word, the best thing for me is to get outside and walk or run along the lake. Inevitably, I come up with some new ideas whenever I do this. Today, I was out for less than an hour. In that time, I tightened up a pitch I’d been mulling around and came up with some new topics for articles. Happens every time! Clear your head of that winter office dust and dander and you open your mind to all sorts of new possibilities. Post a comment
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