It's The Economy Stupid

Do you really think the economy is holding back your business growth? If you listen to the news is sure seems like that's what the media wants you to think. If you buy into the idea that the economy is the reason for fewer sales then guess what? You're going to get fewer sales. That's how excuses work.

It isn't the economy itself that matters. It's the way you react to the economy. If you let the economy get you down you will stop innovating and you won't try as hard to get new clients simply because you will accept the excuse that "times are tough" or "we have to cut back right now" or "how about we can't afford it right now".

In every economy there are companies that are growing and companies that are going out of business. You might try to say that some industries are hit harder than others by the economy and you would be right. But if you take a look inside those industries you will see some companies have record breaking years and others struggling.

Look around in your own market. Is every business suffering? Do you see signs that some are having one of their best years ever? I know when I look around I see some companies and individuals thriving. What's the difference?

The difference is how the situation is approached. Think about it like this. Right now most people in business are reacting to the economy instead of responding to it. Because they are reacting they aren't planning any expansion. Many are spending less on advertising because they have bought into the paranoia that people aren't buying.

Take the time right now to think through all that you have to offer and what your clients need. What can you do differently to help your clients? Is there a way to offer more value for the same amount of money? Can you provide additional services along with what you normally offer? What goods and services are your clients already buying that you don't offer? What have you been putting off doing that you can sell to your existing clients? What referral program do you have in place and how are you taking care of your clients to make them feel like champions? What are you doing to measure the effectiveness of your advertising and what program do you have in place to consistently test new approaches?

The list is hardly complete but hopefully it will get you to start thinking. It's not the economy it's what you do about it that matters.

By the way, when was the last time you contacted your clients for something other than a sales call?