Part #7 of the series on Managing Tough Times

Remember how Sally included her staff in the development of a Hunker Down Plan?

At that first meeting, in which she asked for their input on how to cut costs, she said:

“If my worst case revenue projections come true – we will have a $250,000 shortfall this year – which puts us in a bad situation with the bank.

“We certainly aren’t going to settle for this worst case scenario. We are taking charge. Staying out there. Acting boldly. And working on strategies for doing more of the same in order to boost sales. I’ll be asking for your input on that soon.”

She kept her promise and asked for their input on boosting sales at another staff meeting held a few weeks later. She started by giving them an update on the hunker down plan. Then she shared the hot dog story as a reminder to all about the importance of staying out there.

Next she asked them to help make a list of all the ways they were currently staying out there. As they called things out, she wrote them on the white board. Their list included thing like: their sales staff, website, press releases, advertising, a monthly newsletter, Chamber membership & trade association membership.

Then she asked questions such as:

• Are we using each of these to the full extent?
• Are we acting boldly?
• What else could we do to help our current customers?
• What else could we do to stay in touch with customers and prospects?
• What else could we do it make it easier for them to do business with us?

She encouraged them to think wacky thoughts. The only rules: keep the best interest of our customers in mind and remain socially and environmentally responsible.

This exercise allowed Sally to collect great ideas about ways to stay out there with the added benefit of sending the strong message that she expected everyone to do just that – stay out there!

Enough about Sally. What about YOU and your plan for staying out there?

While I encourage you and your team to make your own list of ways to stay out there, here are a few ideas,collected from a variety of sources, which seem to fall under three different categories. If your brainstorming efforts stall at any point, you might sprinkle one or two of these in – like starter fluid.

Use your networks.

Things like Chamber of Commerce, Trade Association & Alumni Asssociation memberships are often underutilized. Most people are sitting on untapped gold mines as these associations are rich with activities and resources – most of which are included in the fee for membership. Meaning – they help you stay out there for no extra cost! Make sure you and every member of your team is using his or her networks to the fullest!

1. Attend the meetings.
2. Join committees.
3. Attend roundtable meetings.
4. Participate in their discussion boards.
5. Volunteer to help.
6. Update your listings in their online and print directories.
7. Put announcements in their newsletters.
8. Get Linked In, Facebook and other social media. Their power is escalating exponentially every single day.

Stay in touch with current customers.

Even if they can’t do business right now, stay in touch. Make it meaningful. They are under pressure too. Be helpful. Make things easy. Here are some inexpensive ways to stay in touch. Don’t feel like you have to do them all. Focused on a few is better than scattered across many.

1. Press releases – keep your name out their with this free resource. Make sure they are effective by using the free tools at Press Release Grader (link at right under: Suggested Links}.

2. Website – keep it fresh and interesting to keep people coming back. And make it easier to find. You can get great free ideas on how to do this at Website Grader (link at right under: Suggested Links). I just discovered this tool last week and have found it a huge help.

3. E-mail Newsletters – whether they are weekly or monthly or periodic based on current events, these can be very valuable loyalty builders. And the cost is low, low, low. We use IContact. See info box in right side bar. Example uses of e-mail newsletters with impact:

• An IT provider sent a step by step guide for protecting computers from the highly dangerous Conficker virus. It went to everyone they have ever done business with – no matter the size of fee. No matter how long ago.
• A wine bar sends out a weekly announcement about their Friday night events. It serves as a regular, consistent and frequent reminder of their presence.

4. Direct Mail – still cost efficient depending on format used. Excellent loyalty building uses of this:

• An attorney sends a letter to every client he has ever worked with – no matter the fee. No matter how long ago. The letter contains a reminder checklist of all the things a business needs to do on an annual basis.
• A jewelry store sent a letter suggesting that customers get appraisals updated to make certain their items are properly insured.
• A tire dealership sent a postcard to remind you it’s time to rotate the tires.

5. Phone calls. Asking questions.Finding out what would be helpful. Jumping in to help wherever possible. Example: An attorney recently told me that he hasn’t done collections work for a while but a current client was having problems with it so he offered to help.

6. Wander around. Drop in to visit. No official agenda. Chat. Help stuff envelopes. Listen to issues. Stay open to opportunities.

Collect & Compare Notes – Looking for Cool New Ways to React

Hold regular meetings to discuss what you are hearing. Ask people to share the good news they are hearing. And the bad news. What obstacles are in the way? Don’t try to problem solve any of it yet. Just listen. This serves as a chance to vent and feel supported.

Anything else?

Okay – now let’s look for opportunities and solutions.

Possible Obstacle: People aren’t taking the time to come see what you have to sell?

Possible Solution: Could you take it to them?

• Like the car salesman who took fleets of new cars to a nearby upscale club…offering test drives to members as they came off the golf course.
• Or like Susan who showed up at our office after closing with a rolling rack of clothes she thought would be just perfect for us. She rolled it right into the conference room and we all went in to try things on. It was like playing dress up. So much fun. We bought clothes. And were forever impressed wth Susan’s commitment to us. Not surprising that Susan went on to start a business with her sister and her mother. Susan, Frances and Lee Gravely were the founders of VIETRI, Inc. Susan is CEO.

Possible Obstacle: People are scared to buy.

Possible Solution: What can you do to make it safer?

The classic example of this is Hyundai’s Assurance Program. If you buy their car and lose your job, they will take the car back.

Or what if you are selling sponsorships for an event in the fall?

Can you relax payment terms for long term customers?

Or relax a cancellation policy?

As you can see, there are lots of ways for keeping the economy from bullying us around. We can’t change him or make him go away. But we don’t have to hide from him either. We can just change our reactions to him so that we can stay out there. And even better – act boldly – right in front of the big bully himself.

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copyright 2009 – Jan Bolick, Business Class Inc
www.businessclassinc.com