Strategies to Small Business Success

Down economy has many entrepreneurs struggling to stay afloat

taking the characteristics of your brand and identifying those people most likely to be attracted to it and to your personality. Develop a marketing plan to reach this core group. Then, take every opportunity to push your product or service to the forefront of consumers’ minds. This could be in the form of holding speaking engagements to talk about your company, creating a Website to disseminate information, and other promotional tools.

2. Be innovative: Develop new and unique products or services that will create positive change for consumers. Junior’s vision to “manufacture intellect” evolved into, an online radio show that, through downloadable lectures, lessons, and expert interviews, teaches small business owners how to compete in the marketplace. “I thought that I don’t have to use radio to talk about news,” says Junior, whose program attracts listeners in Japan, China, Turkey, Israel, and Spain. “I can use it as an educational tool, so if I get on the radio every day for a half hour and give you processes that you can use, and then give you more information through lectures, then I have just manufactured knowledge.”

3. Stay connected: Don’t wait for the economic storm clouds to blow over before searching for new business. Get out there and network. Just make sure, Junior says, to attend only those functions whose attendees are in your “brand friend family.” Don’t waste time sharing information with those not likely to be attracted to your business or your brand.

5. Hire a business coach: It is money well spent. Business coaches or consultants can provide personalized information on how to develop your enterprise. They also offer a support system that many small business owners lack and need to gain ground in a competitive marketplace.

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