[Small Business Leader] 7 Strategies to Prepare for Recovery

Small Business Leader

Marian Banker, MBA, Business Leadership Coach, and creator of the Business Success System.

"Lead Your Business to Success"

ISSUE #119
August 2009

In This Issue

One Page Marketing Plan

Success Tip

Feature Article

Success Tip

Business Success System Course

About The Publisher & Feedback

Quick Links

Past Newsletters

More About Us

Note from Marian,,

While many of you are getting away this month, I'm enjoying some good times locally. We've been going to the local Brooklyn Cyclones games (an A level Mets baseball team). It's a great excuse to invite friends for an evening out and for dinner to be a Nathan's hot dog, peanuts and a cold beer. If the weather's good, it's a fun afternoon or evening.

Recently we were invited to Trattoria Lucia in Bellerose, NY (on the eastern border of Queens) for an evening of amazingly good Italian food and a do-wop quartet singing and dancing to 50's and 60's Rock and Roll music. I felt right at home with lots of others from my era. Good times with good people.

I just got a new Kodak Zx1 pocket video camera and I'm learning how to use it. Wish I'd had it for this event. The place was rockin'.

Are you finding it a real challenge doing business in the current economy? This month's feature article, "7 Strategies to Prepare for Recovery", offers strategies to help you prepare for recovery.

If you missed the webcast, "How to Grow Your Business Using Partnerships", it's now archived at http://primestrategies.com/grow-business-using-partnerships, so listen when you can. And this month I initiated the Business Partnership Clinic plus the LinkedIn group, Successful Business Partnerships. The group is growing rapidly and attracting some interesting members.

Have a burning question or you'd like my perspective on your business? Sign up for one of the 4 Open Coaching slots on Friday, August 28th from 10 - 12 noon EDT. Click here for the details and to schedule your 30 minute free session.

To your success!

Marian Banker
Publisher
Small Business Leader

marian@primestrategies.com
http://primestrategies.com

One Page Marketing Plan

Everything you need to create a Marketing Plan specific and timely to your business. You'll be amazed at how easy it is when you know the exact steps to follow. It's more than an e-book; it's a "system"; based on the same take command principles used in all the Business Success System materials.

Success Tip

If you're getting ready to start a new business or venture, begin now to gather a team of people who will help you set up and manage it. These will likely be people you have some history with, others may come by referral. Cover the areas of finance/accounting, strategy, operations, staffing and legal. Follow their advice in setting up the business and you'll be off to a great start.

Feature Article

7 Strategies to Prepare for Recovery

By Marian Banker

No matter our circumstances, we all have been affected by the deepest recession in our lifetime. This summer seems to be even tougher than usual for many small businesses.

Now is a great time to take a hard look at the realities that exist, get help where needed and rethink our business strategy in preparation for recovery.

Here are seven strategies that will help.

1. Open a dialog with those you know. Mutually beneficial relationships are now, and always have been, a key to success. Reconnect with former customers, former prospects, business colleagues and friends. Ask about their plans and their challenges. How have things changed for them and what do they need now?

2. Identify your personal value and offer to give that on the terms of your choosing. Incorporate your personal values into your business. Support programs you believe in. Join selected organizations and find a way to contribute your personal value.

3. Expand your network. Seek to connect with those who are either in your target market or do business within it. Be sure to have a follow-up plan for all new connections. Limit time on social media and networking activities to only those that produce results for you. The volume of information and interactions in online networking can be overwhelming, so be ruthless with sticking to your strategies and plans.

4. Consider alliances, joint ventures and partnerships with those already in your network. These are typically low cost, high return arrangements if structured to the benefit of all parties. Such business relationships can provide flexibility, new resources and stability in a sea of chaos. For more information on growing your business using partnerships review my recent webcast,

5. Make informed decisions and take calculated risks. Before making any decisions gather all pertinent information from your business, your market, your community and the economy in general. Take calculated risks based on all the pertinent information you have gathered and analyzed. Consider the risk vs. reward relationship. You're bound to come up with new options. As some doors close; new ones will open.

6. Remain flexible. Test your ideas on a small scale. Adjust and modify based on what you learn. Make small investments in new ideas. Set very short term goals and determine early what works and what doesn't. Innovative ideas that prove themselves now could position you to lead in a recovery.

7. Provide yourself with ongoing support. Create a small, close network to help provide perspective. Get feedback on your ideas and concerns. Find out what others are doing that is proving successful. Ask for what you want and need.

These are actually good business strategies for building a strong business in any economy, but they are especially important in maintaining and growing a healthy business now. It's how many small businesses are taking the lead in creating a recovery for themselves and the economy.

To learn more about business success strategies and actually apply them to your business check out the Business Success System Course. It's the Prime Strategies self-study program that walks you through the fundamentals of building a strong and profitable business.

Success Tip

If August is proving to be a slow month for you use this time to prepare a proactive second half marketing campaign, tackle those low priority tasks that just never seem to get done and take some time off to enjoy the season and the people in your life.

Business Success System Course

Want your own Personal Roadmap to Business Success? Take Command of Your Business with the Prime Strategies Business Success System Course. Gain the confidence to make well-calculated strategic business decisions in spite of challenges and crossroads.

Included is a step-by-step guidebook, interactive tools to organize your thinking and your actions, plus coaching audios to support you as you take each step in the system. It's totally risk f*r*e*e because it comes with a 100% satisfaction *guarantee*. Learn more...

Small Business Marketplace

Open Coaching sessions are being scheduled on Friday, August 28th from 10 - 12 noon EDT. If you have a burning question or would like Marian's perspective on your business, sign up for one of the 4 slots. Click here for the details and to schedule your 30 minute free session.

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About The Publisher & Feedback

ABOUT THE PUBLISHER:

Marian Banker has been publishing Small Business Leader since January, 1999. Her focus is on bringing to the busy entrepreneur a quick look into the current world of small business from the perspective she's gained through coaching, consulting and training entrepreneurs in both service and product based businesses.

Marian offers individual coaching, business support groups, seminars and workshops on topics of critical interest to small business owners. Her monthly Lunchtime Telephone Roundtable has proven to be a popular way for business owners to come together around a specific business topic without leaving their office. See notice about this month's topic in the content above.

To learn more about her services, visit http://primestrategies.com.

FEEDBACK:

Your feedback is always appreciated. Please write to marian@primestrategies.com.

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