Wednesday, December 10, 2008

Tips for business owners: Thriving during the recession

Business coaching seminar
Tom Shay,

Business owners gathered in Gulfport on Monday for an informative seminar by nationally acclaimed business coach Tom Shay.

Among this tips:

* If something hasn't worked for a year, drop it. Go over your advertising and marketing budget. If you're not getting return on it, maybe it's time to reconsider where your money is going.
* Don't forget about your customers. It's important to get new people in, of course, but retaining existing customers is just as important. Send them cards, let them know you're thinking of them. And remember, happy customers will refer friends to you.
* Times are tough, we know. But the average recession lasts 17 months. Now is not the time to slash your prices or lower quality. Remember, your image is very important. Don't sacrifice it just to get through the next few months.
* Read, read, read. A good business owner isn't someone who's good at his or her craft. A good business owner is someone who knows business. "The average business owner doesn't read business books," Shay says. "That's why he's average."