Small biz find slowdown antidote
October 2nd, 2006
From The San Jose Mercury News
Column: Small biz find slowdown antidote
By: JOYCE M. ROSENBERG
Associated Press
NEW YORK - With growing evidence that the economy is slowing, many savvy small business owners have adopted strategies that will help their companies weather a downturn.
A mixture of foresight, creativity and adherence to good business practices can help a company mitigate the damage from a slowing of their sales or profits. Perhaps the most important thing owners can do is maintain good relationships with customers.
Mark Stevens, a small business owner whose work includes sales consulting, said owners need to already have in place a culture that encourages everyone in the company to treat customers as family members, and not just part of a business deal. Getting to know your customers well gives you a better chance of holding on to them when business slows.
“The vast majority of people don’t say, ‘tell me something about you,’” said Stevens, CEO of MSCO, located in White Plains, N.Y. For example, if you run a travel agency, Stevens suggests calling a customer several months after a trip and asking how it went.
Stevens also advises making sure that your sales pitch - or those of your salespeople - is short and to the point. Again, know something about your customer or prospective customer. “Not being educated is a good way not to get a sale,” he said.
Letting customers know you’re not out for their money only can be a big help toward building a good relationship….
Read the whole article here…
