When I first started out, sometimes weeks would pass in between clients. Of course all businesses go through this occasionally - especially in the beginning.

Newly divorced with two small children, these dry spells would sometimes cause a near panic.

Even though I had a very tiny marketing budget, I knew I had to send something out in order to get anything coming in.

And this was before internet use became so easy and popular; the web wasn't as wide and I had to be quick and creative.

I tried a lot of tactics - some more successful than others.

More importantly, I learned principles and techniques about business and marketing that still benefit me - and my clients - to this day.

The most crucial, and useful, thing I learned is that time can be traded for money, but there will always be more money than time.

That may sound odd, but this is what it means: The more money you have available, the less time you must spend on a required activity.

But even when you don't have much money, you can often still get what you need if you are willing to spend some time.

Talking to people and building relationships takes time but it's free and effective. The same is true for building and using a good mailing list.

Almost anything is possible if you exercise your creativity and never give up.

Got a good idea you need help developing? Give me a call.

Until next time,
Vanessa

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August, 2008    

Prosperity and the Economy

Last month's question was: How can you jump start your business in an uncertain economy?

The same way you do at any other time. The economy, like anything else we don't control, will always be "uncertain".

No matter what the economy does or doesn't do life, and business, will continue. Things will change, but change and growth are also part of life.

It is necessary to have a plan, and to consistently follow the steps in the plan. And sometimes you need a backup plan to plug in the spaces that can unexpectedly occur.

10 Low Cost Ideas To Jump-Start Your Business

1. Make and distribute coupons in places where your ideal customers are. (Be sure to check regulations first.)
   
   
2. Don't just hope for referrals. Ask for them and give incentives to existing customers who provide them. The incentive could be a percentage of the new business as a credit, a free product or a service upgrade.
   
   
3. Keep in touch with previous customers - especially those who haven't purchased in a while. Don't let your business become out-of-sight out-of-mind.
   
   
4. Have a sale and create an offer that's impossible to refuse. Offer a significant discount or bonus for new customers who take a specific action such purchasing a set amount or signing a contract for a specified time.
   
   
5. Hold a contest. Give people a good reason to visit your website, look at your catalog or come to your store. Award a prize that provides real value to your ideal customer type. And make sure all who enter your contest know the best benefit of doing business with you.
   
   
6. Post notices to announce your sale or contest on forums, networking groups, your blog and/or website, free or low cost off- and online advertising services, bulletin boards, and everywhere else you can find to get the word out. Multiply your efforts by placing your notice inside a freebie that you allow others to give away.
   
   
7. Add a free service to your product, or a free or discounted product to your service to encourage undecided prospects to give you a try. It's all about added value for the customer.
   
   
8. Contribute to a worthy cause by donating a percentage of sales (or profits) to an organization that you and your ideal customers could support.
   
   
9. Re-evaluate your marketing plan. Make sure it contains both short and longer term goals, and action plans to achieve those objectives.
   
   
10. Start a club and sell memberships. Charge a quarterly or yearly fee for a discount card that allows members to purchase at reduced rates. People usually shop more often if they've paid for the privilege, and they'll buy more when they know they're getting a special value.

Difficult economic times may affect your industry so keep up with changes that might have an impact on your business. You might just spot an opportunity.

This column focuses on easily confused words and common language mistakes.

Tell is to inform, reveal or say.
Tale is an account, report or story.
Tail is the bottom or back; also a projection from an animal's rear end.

We heard him tell an amusing tale about decorating a horse's tail.

Your turn readers. What word foul-up drives you to distraction?

Think It Over
This month's question: How do you form and keep relationships with your customers, and why does it matter? Next time we'll discuss how you can put this information to use.