5 Ways to Grow Your Business During the Recession
While most companies are focused on surviving the recession, smart companies are making efforts to grow during the recession.
Thor Harris, small business wealth expert and president of Percepture, a marketing, branding and strategic media relations company, gives BusinessNewsDaily readers advice on how to expand your business while others around you are floundering.
Expand your sphere of influence. Networking is key. Set a goal of attending an outside event where you can make new business contacts two nights a week. Do not attend industry-focused networking events . There are too many similar people looking for the same potential clients at these kinds of events.
Cut the fat out of your current budget. Look at everything you can trim that is nonessential and reevaluate your entire budget.
Tap in to your attorneys and accountants for business referrals. Remind your contacts that you will give them a percent of any new business they throw your way. Same with your current clients, ask them for recommendations and referrals.
Use social media tools. LinkedIn is an excellent way to tap into new prospects, but most people don't use it or know how to. Learn how to use LinkedIn .
Take a break. Running your own business is hard. Take one full day off a week and turn everything off. Recharging your personal batteries is a must.
Harris has managed public relations and innovative marketing programs for some of the world's largest companies and best-known brands — including Daimler-Chrysler, Sony, Foot Locker, The Islands Of The Bahamas, Ingersoll Rand, Konica Minolta, Century 21 and ChevronTexaco. He sits on the Board Member of the American Red Cross, Business Marketing Association, and the New Jersey Entrepreneur Network and is a member of the NJ Technology Council and the American Chemical Society.
- 5 Things You Should Do Now to Ride Out the Recession
- Women Business Owners Used Recession to Regroup
- 5 Ways to Grow Your Business on a Budget