Tuesday, October 27, 2009

Keep your home business strong during economic turmoil

1. Apply the 80-20 to customers and products – This rules states that 80 percent of your business comes from 20 percent of your customers. And the 80-20 rule is now more important than ever. Remember, who your most important customers are. Offer them more for less and give them exceptional service. Think about how you acquired these customers and duplicate it. Where did these customers come from? How did you land them?

2. Keep the momentum. With the holidays around the corner, this is a great time to really get out there and keep your business going. If your running an advertising campaign, keep it going. If you enjoy networking, network even more. This time of year, people are looking for great gift ideas as well as extra money. Don’t you provide both?

3. Give special deals. Have a sale. Offer some unique specials. This is certainly a great way to reward your current customer base and expand it. Vamp up your referral program. Get creative!

4. Market, Market and market some more. There are so many different ways to market your business. And you can do so inexpensively. Business cards to social marketing to blogging are all ways to create awareness about your business and your products. The key is consistency.

5. Seek Corporate Clients. During this time of year, businesses are looking for unique employee and customer gifts. Targeting corporate clients is a great way to earn some great cash during the holiday season. Make a list of possible targets. Identify the people in charge and let them know what you have to offer. Remember, you are a problem solver. You never know where it will lead.

6. Get Creative! The holiday season can be stressful at times. Even during times when most people are set to a budget, you can be there to help. Make holiday shopping easy! Put together gift baskets. Have an array of different priced items. I know my product line goes from great stocking stuffers to Corporate Client gifts. You can spend $3 or you can spend $300. Find out your prospects needs and be willing to fill them.

7. Be your best. There really is not substitute for the basics. People will buy from you (or not) because of your reliability, your customer service and because of the relationship you have built.

8. Have fun. Running a home business is about having fun. And the people around you will see your passion shine through.

1 comment:

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