5 Tips for Growing your Business during Tough Economic Times

by Chuck Terry
Executive Vice President and CSO, Carew International, Inc.

I would contend that selling is never easy. But during tough economic times, it gets even more difficult. Try as you might --turn off the television, turn off the radio, drop your newspaper subscription -- but you still can’t escape the economic reality that your customers are facing. Here are five essential practices for selling during tough times:

1. Work your relationships -- People still buy from people. The tighter things become, the more importance placed on every purchasing decision. When you can’t afford to make a mistake, buying from someone you trust is even more of a must. These are the times to work your personal relationships and business networks harder than ever. Networking into an opportunity as someone who can be trusted may be the edge you need in earning new business.



2. Stay close to your existing customers- While this habit is always important, it is even more so during tough times. Not only can you help them by adding value during difficult times, but that assistance gains you more loyalty at a time when your clients may be forced to re-examine everything. You may not get new business in the short term from these efforts, but it may keep you from replacing lost business in the future. The long term effect of this renewed focus may very well be eventual business growth within existing accounts.
   
   
3. Make the extra call- Each day as you are ready to call it quits, make one more call. Don’t just make any call. Make a call to one of your top, but more difficult, opportunities. Over the course of a normal work year, this simple practice will result in over 250 additional calls to your best potential customers. Not only that, but often you will find access to decision makers is easier at the end of the day after ”gate keepers” have gone home. Chances are your competitors have quit for the day as well! This is a great habit to get into anyway, because it could just be your best call of the day.
   
   
4. Focus on the positive- It is easy to become discouraged, especially when trying to sell through tough times. Keep focused on the fact that not every company out there is just trying to hold on. There are many companies, just like yours, which are committed to growing while others are wringing their hands. Go find them!
   
   
5. Sharpen the saw- Get plenty of rest, exercise, and make sure you are taking care of yourself. It is easy to run yourself down when things are tough and you’re putting in extra time and effort. But this is also the time when you need all the energy you can get. Make sure you are getting good quality time at home with the family as well. And when you are finally done for the day (after that one extra call) really be done until tomorrow.

There is plenty of news out there that could make anyone just want to crawl back into bed and say “Why bother?” It has been said that the measure of a person is not how many times they get knocked down, but how many times they get back up. Tomorrow is another day, make it great one!