The worst excuse for failure imaginable, but so common, “the economy is bad…”

There is no end to the excuses we use for failure. I hear them all the time and my favorite  goes like this:

The economy is terrible, no one is buying, my revenue is down and there is nothing I can do about it. I will just wait for the market to turn around. This is a self fulfilling wish if you allow this to become your reality.

It may be true that the national or regional economy is down, and sales are very low in your industry sector and region but is this a valid excuse to surrender and accept failure? I hope not. Doing nothing is the only wrong response.

The position you must take is that despite the trend you can do well in a down market. Not every business has to do poorly. A standout business can grow even in a down turn.

A few thoughts and suggestions:

Sales are never zero. Your job is to capture a larger percentage of what is available. You must aggressively beat out your competition for the sales that are available. Certainly there is always some business. You need to get as much of it as possible. This should be easier then you would imagine as your competition is busy hiding, waiting for the storm to pass.

Chances are excellent that the customer base is hearing this trend and thus as they all tend to follow the leader and take themselves out of the market because that’s what everyone’s attitude tells them to do…If you promote a different attitude you will excite the consumers and give them permission and a reason to buy…from you.

If your competitors are responding to the down turn in a similar and predictable fashion, expending no effort or money to capture what business may be available and doing nothing to stimulate potential sales, accepting the down turn as the only reality of the day, this spells opportunity. Your job is to figure out how to beat them to the available business. Your opposite attitude and position will be very attractive if presented effectively.

Realize that your business is probably small enough to grow in a down cycle if you have the vision and are brave enough to buck the trend, recognizing that despite the downturn there is business to be had and your job is to capture as much of it as possible while your competitors are laying dormant waiting for the market to return.

The huge home builders may be in deep decline, but the small builder building a few houses per year can always build and sell, they need to be brave and recognize they can grow and succeed despite the trend.

Trends only truly affect the largest businesses and the smallest ones that allow this to happen to themselves.

Creativity, tenacity, a little clever thinking and effort, positive attitude and cost efficient efforts capturing more of the market share, one customer at a time… if that’s what it takes. Remembering that even in a down economy there are always customers waiting to be captured and sold if only we had the right approach and attitude. If only we were open to do business, not closed up waiting for the signal that its ok to buy.

Downturn for others spells opportunity for those clever enough to recognize the opportunity, if  we recognise this and act accordingly.

This does not necessarily mean spending all your budget on large advertising campaign as a down turn in your market requires prudent clever and cost efficient use of your resources.

Marketing in a down turn requires clear thinking, not giving up to the trend, but using the trend to your advantage.

Thus, maybe the answer is a press release series and a public relations campaign. Maybe its special promotions, or a midnight madness sale.   Maybe its repeat sales to existing clients in a private sale environment. Possibly its lowering price and margin in exchange for a better cash flow.

Whatever the answer may be, depending upon your particular market segment, the answer is before you if you have the correct attitude and refuse to allow defeat take control of your destiny.

Do not accept the obvious knee jerk reaction to do what others are doing, give up and give in to the path of least resistance…failure.

Find the way to reach your market and sell successfully. It awaits your effort and will yield success for  those unwilling to give up.

Onward through the fog for those who dare will succeed. A downturn is an opportunity for the brave, the smart and those wanting success more then failure. Call for help 413-549-2966.