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I saw a bumper sticker the other day that said “Refuse to Participate in the Recession.”  I have no idea if that driver had a job or was looking for one, but he was obviously electing to make the most of the challenges he faced. Many say the U.S. economy is still in a recession based on the fact that unemployment is still high and consumers are continuing to temper their spending habits–two elements that define a recession. However, anyone with the desire to be an entrepreneur has to have the attitude of my friend with the bumper sticker. So how does an entrepreneur succeed in a recession? Become Indispensable In a tricky economy, it’s natural for people to want to protect the security they still have. In the service industry, one way to prove that your product or service is part of the solution is to point out the consequences that could occur if the service was not around. Try “secret shopping” your customers and document the outcomes; then secret shop a business that doesn’t use your service or product. If there’s an obvious difference, use these stories to sell your businessback to your customers. Invest in the Future Most recessions last only a year or two. Companies that fail to continually invest in business improvements, training and marketing are way behind when the economy recovers. In terms of training, consider how to cross-train your team members while business is slow. It may enable you to perform better later on. Seek Out Referrals Nowadays, many businesses assume there are no sales to be made, so they stop trying and sit on the sidelines. While sales may be harder to come by, make contacts now so they will pay off later. Furthermore, if you’re pulling back on your advertising budget, referrals may be your best bet for generating customers. You should also create a program that rewards current customers for referrals. Buy Weaker Companies If you can manage the integration process, a down economy can be a great time to acquire a business. Strengthen Your ROI Pricing Offers Customers often question the cost of a product or service because they can’t always tie it to a result, and that scrutiny only increases in a bad economy. Offer pricing related to specific results. For example, I heard of a PR firm that only charges for placements, not advice, writing or strategy development. This approach enables the agency to charge more for its services, but customers know upfront what they’re getting. Be Loyal and Focus on Retention When the recession is over, your employees will be more likely to stick with you. This may mean eliminating free coffee, for example, but have an honest conversation with your employees, and they will usually help you cut costs even further. Maintain a Fun Environment When companies cut out the fun, it can negatively impact employee job performance. If you’ve sponsored parties at work for years, continue these events. A consistent culture will encourage your staff to provide consistent service to your [...]

When you’re a small business, positive word-of-mouth is critical to growth. One of the best ways to get that buzz going is through publicity.  But how do you compete with the big guys, and get publicity?  Here are the only three steps you need to get great publicity FREE: Step 1:  Have A Great Product, Service or Business Most small businesses think that what they sell is great. The Key: To get publicity, you need to provide what the media thinks is great. Here are some examples of what makes products interesting to the media: A truly new product (just launched in the last few months or about to be launched) Unique, breakthrough product Works well, tastes great, etc. (In most cases the media will test out your product if they are interested in featuring it in a story) Colorful packaging / visually appealing – especially important for visual media Product ties into trends – organic/green, political, etc. Priced right – less than key price points ($100, $50, $25, $10) or priced high if truly a luxury item Here are some examples of what makes services and businesses interesting to the media: New service, company or book (just launched in the last few months or about to be launched) Unique, breakthrough service, concept or business Provides ways to save money Offers something for free High rate of revenue and employee growth Ties into trends Step 2:  Approach The Right Media Contact With A Great Pitch You should only approach media that cover your type of product or business.  This means that you’ll need to read, listen to or view these media outlets prior to pitching them. Once you determine that your business or product is a good fit for their editorial coverage, you need to find the right contact.  You can do this in several ways: Call up the media outlet and ask who the person is who covers your area Look at the print masthead or producer credits Search online Buy a list – you can find these online Then you need to pitch the contact. Include why your product or service is a great fit for that media outlet, as well as a product or service description.  Don’t forget to include your contact information. You can pitch via phone or email.  Here, you can see a sample pitch for a product or service business. Step 3: Follow Up This is the part that trips up most do-it-yourself publicists and even P.R. folks.  Once the media has expressed interest in your product or service, you must be persistent in contacting them. Often you’ll need to follow-up with them several times, via the phone or email, until you have gotten media coverage. By following these steps, your chances of getting publicity are greatly increased.  And once you get publicity, you’ll see more buzz, more sales and more credibility for your business. Source: Small Business Trends