How To Prepare Your Business For Challenging Times

It's a very, very tough market. So unless you do a really good job, you buy the right products from the manufacturers, you service the customer, they keep coming back, they bring their friends in, it's all about numbers, numbers, numbers - John Ihan

We all hope for the best when it comes to business - however, there will always be challenging times in the world of retail sales, and owners and managers need to prepare for these dips by planning properly. To beef up your power products business for a recession or other tough economic climate, there are some tips and tricks you can use to stay afloat when many around you begin to sink. Here are our suggestions and ideas for keeping your business strong when things get hard.

Review Packaging Strategies -

Is your packaging expensive, dated-looking, and generally in need of freshening up? To save money and get a more modern, appealing look, consider re-doing your packaging, using modern materials that are kind to the environment - choose a color scheme that reflects where your power products business is at today.

Of course, many of your products are large, but you will probably also sell smaller accessories, not to mention giving warranty information, product manuals and other important paper to clients - so why not present it properly by giving your clients packaging that advertises your business and impresses customers? Great packaging is a wonderful promo for your business - customers carry around their bags and become walking billboards. Take advantage by getting the right graphic art and the right look for your power products company. A nice paper bag with handles and a cool logo and graphic may be more current and "green" than white plastic bags stamped with the company name. Walk around and see what people are carrying - what looks good to you and gets your attention? Then, create your own packaging to mimic the best styles out there.

Network Aggressively -

When the going gets tough, the tough get going, and they network as aggressively as they can! If business is slowing due to a general economic downturn, you need to get out there and make connections that may lead to new sales. Hitting conferences, trade shows, and community events can be a great way to get to know people who may be interested in what you sell. Consider some "sweat equity" by participating in charity events in your area, such as clean-ups or renovations to social housing, in order to amp up your public reputation.

Often, companies that participate in these charity drives will receive wonderful free ads in charity press materials and pamphlets. This sort of "good will advertising" can help you find new sales leads in tough times.

Explore Referrals -

Set up a great referral system that brings new life to your business - talk to businesspeople you work with every day, and request that they refer their clients to your business whenever it is appropriate. To pay them back for their time, do the same referrals for them from your place of business. If someone sends a referral which results in a closed deal, give them a percentage bonus to keep the referral system active and healthy. Reward successful referrals - you may even want to let your regular clients know that you'll provide them with cash bonuses and discounts if they send referrals your way. Referrals are a very inexpensive way to find new clients, so do all you can to get referrals continually, throughout the calendar year. 

Mandatory Marketing - What's Important For Every Retail Business

The classic methods of advertising still get results; for example, if you're using print ads, radio promos, and TV spots to promote your power products retail outlet (and these methods are bringing in customers), then there's no need to stop or downscale. However, you need to expand your focus on create mandatory marketing in other, less obvious channels. Today, there are plenty of important ways to spread your company's message and promote your inventory...of course, most of these methods will be found on the World Wide Web:

Soft-sell On The Internet - The World Wide Web allows entrepreneurs to promote in a variety of exciting new social networking channels, such as Facebook, Twitter, FourSquare, and LinkedIn. To get the best out of marketing online, you need to be on at least three of these four sites. After all, many people who are considering buying with your company will check you out on Google and other search engines before they even think about dropping by your retail outlet or ordering online. If you don't have the media presence you need on the Internet, you're really hurting your business.

Don't consider this sort of advertising as "optional" - it isn't optional anymore...it's a mandatory way of promoting that no one should ever ignore or omit. To make your posts and interactions more successful, dial down the hard sell; focus on building new connections, and then casually drop in the odd comment about what you sell and how you can solve a person's problems with your goods and services. Focus on people, not things, and make your interactions positive and personal - business will flow from this holistic approach to mandatory marketing on the Internet.

Use Video - YouTube is an extremely effective way to promote what you sell - after all, you're basically getting exposure to millions of clients every time you post a new video! However, there are some things to consider when you post on YouTube - on this video sharing website, it's easy to upload videos that promote the machines that you sell; however, it's also all too easy for competitors or detractors to trash your ads through the comments section of the website.

YouTube tends to bring out the worst in people, since they can hide behind fake names - often, posted videos become items to be mocked and attacked. If you can't take the heat, or worry about what people will say, disable comments for your video. Of course, having to take this step can be annoying, as you'll want to connect with people. To begin, keep comments open and see what happens - if you start getting negative remarks, consider disabling the function. Always check in to see how many views you're getting, and to read what people are saying.

Content Is Everything - Original content is the "gold" of the Internet - people who surf the net are like Klondike prospectors who "pan" for gold. To give them the nuggets of pure, informative content that they need and want, pay for original writing that isn't just rewritten versions of everything else out there. The most valuable websites are stocked with content that people can't find anywhere else, and people who visit appreciate the uniqueness.

You can sell more of your inventory and make better connections when you remember that content rules on the World Wide Web. Offering engaging content is a highly effective, yet oblique method of selling your products and services - when you write about power products, without pushing your business, you become an expert in the eyes of your Internet audience, and you build trust and rapport that may lead to a client-customer relationship in the future. Become an expert with original content! 

Is Your Staff Big Enough?

Sometimes, bigger really is better, and that's certainly true of staff numbers. After all, the more salespeople, technicians, and service staff you have on site, the better your customer service will be. However, as we all know, labour is one of the biggest costs of running a business, and "over-hiring" can be a deadly error. In fact, businesses that don't make enough to deal with their big overhead can quickly wither and die.

So, how do you know when it's really time to expand your staff? How do you know you're safe spending more money on labor, when the economy is still a bit shaky? We've got some interesting and informative guidelines that will help you get the results you need, without putting your business at risk.

Stress Levels - Check the stress levels of your staff - are they buckling under the pressure? If temper tantrums, complaints, exhaustion, and sick days are on the rise, your staff may be feeling overworked and underpaid. When there is too much work for too few people, the retail atmosphere can quickly turn chaotic...and even toxic. Eventually, customers will feel the negative energy, and rest assured, they will be completely turned off by it.

If stress levels are too high at your business, it's time to hire some backup. Look for part-time employees if you can't afford to pay benefits, or consider outsourcing certain tasks, such as accounting or other paperwork, so you can help out more on the sales floor. The important thing is just to take action and relieve the pressure that your employees are feeling. Customer service is always the priority, or it should be; everything you do should be arranged around this central idea.

Revenue Is Soaring - Sometimes, your business may catch a trend or current in the marketplace, and sales may begin to soar. When this trend is short-lived, you may not need to augment your staff numbers; however, if patterns display an ongoing shift in your business income, it may be time to back up this new prosperity with extra staff members. Support any new success by ensuring that people who come to your retail outlet can get superior service during every single minute your store is open - don't let anything fall through the cracks. While your impulse may be to conserve money during times of prosperity so you can bank all of your profits, you need to think long-term to survive and expand.

Staffing your business properly is an art and a science - you need to spend time on the retail floor, watching the ways things flow - or don't flow - to interpret issues properly. Don't detach from everyday operations at your business - even if you're tucked away in an office out back, you need to keep your finger on the pulse of your business. If staffs are stretched too thin, the delicate balance of delivering customer service, while also taking care of other tasks related to stocking, pricing, and paperwork, can fall apart really quickly. 

In-House Financing Supports Your Business Plan

Put all of the pieces in place this fall - start this fresh new season on the right footing by adopting in-house financing that revitalizes your business and supports your overall business plan. When you partner with Crelogix, you'll have what it takes to add affordability and ease to the customer service experience...and your clients will thank you!

The cost-effective benefits of partnering with our company will become clear as soon as you begin to promote your new in-house financing services. Ads, promos, and signage that feature phrases like, "in-house financing" and "affordable interest rates" will entice new clients, and make it easier for returning clients to get more power products. In today's credit-crunch society, it's vital to open up affordability, so people don't have to shell out in big lump sums to pay for what they need. Take the pressure off of your customers by giving them instant, online pre-approval for consumer loans - with our MyCrelogix.com system, it's just so easy to give clients immediate answers about whether or not they qualify for loans. You can incorporate MyCrelogix.com into every sales pitch you make, and you'll be amazed at the way the whole Crelogix system helps your sales team to close more deals.

For over thirty years, Canadian entrepreneurs have learned the secret of supporting their business plan and infrastructure with the power of Crelogix. It's time that you also discovered this amazing selling tool. Call us today to set up an appointment - we have a team of specialists standing by to tailor term financing solutions to your specific needs. Don't waste another minute on old-fashioned business practices that don't reflect the needs of modern society - streamline your system with point-of-sale financing that really gets results and boosts your bottom line. 

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