Category Archives: Survival

Survival Tip for Small Business

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Yesterday I gave you 10 Survival Tips for Small Business and today I want to offer another survival tip that didn’t make it to yesterday’s list.

Even though times are tough and your struggling to survive don’t forget your family
Yesterday I was doing some research for a client when I came across this piece of very good advice … “remember the things you have, not the things you don’t have” … and I realised that it was definitely worth sharing here.

When times are tough we tend to focus on our business … all the problems with our business take up so much of our time that we forget that there are some very important people who still need our attention.

When you’re really getting hammered by the downturn in the economy don’t forget your family. They still need your love and support … and your attention … so give them all the love, support and encouragement they need because without them you and your business won’t survive.

Don’t ignore them just because you’ve got a heap of worries. Don’t take all the support they have for you and give nothing in return just because you’re struggling to survive … they’re struggling to survive too and you are the person they look to for help so don’t let them down.

Easier said than done? Of course it is … I know from personal experience just how hard it is but if you have the strength to build a business then you have the strength to support your family through these tough times too.

10 Survival Tips for Small Business

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There’s no doubt that times have been tough for small businesses over the last few years and by the way the economy in Europe and the US is going those tough times may get even tougher.

So as part of a small business that’s been going through the same tough times as everyone else I thought that we might share 10 survival tips for small business. If your small business is in the middle of some tough times these tips will help you survive.

Don’t Give Up
When times get tough there comes a time when you start to think of giving up. Don’t feel guilty about feeling that way when you reach that point … it’s normal … it’s part of human nature.

But don’t give up … keep on pushing ahead … keep on looking for ways to drag yourself out of the financial mess that’s going on around you. Always remember that these bad times will pass and every day you survive you get yourself one step closer to that point where the good times return.

Pay Down Debt
Got credit cards? Got regular monthly debt repayments? Get rid of them if you can!

If you have loans that you can’t pay out then look for ways to reduce the amount that you’re paying on those loans each month. The more you can reduce your outgoings in tough times the better your chance of surviving.

Don’t buy anything on credit
Cut up your credit cards and pay out the accounts … if you can. Don’t even run 30 day accounts with your suppliers if you can avoid it.

Pay cash or use a debit card for everything and if you can’t pay cash or use a debit card then don’t buy it.

Cut Expenses
Look at everything you spend money on each month and make an objective decision on whether that money is well-spent or not. In tough times lots of big businesses bunker down and don’t come up till conditions improve.

Unfortunately most small businesses can’t do that but you can certainly cut your expenses.

However there’s one expense you can’t cut … the cost of advertising. Tough times are the times when it’s important to spend money on getting your message out to those people who still want to buy the goods and services that you’re offering.

The trick is to find the form of advertising that gives you the best return on investment. If you haven’t thought about it before then think of trying Google Adwords and if you don’t know how to do that then talk to us … click Google Adwords Management for more information.

Make equipment last longer
Equipment is expensive to buy or lease so make it last longer and if you replaced your gear every two years make it last for three. Look after your equipment and it will last much longer than you might think.

Review staffing
This is something that I feel uneasy about … letting someone go who has worked for you for a long time is never easy but there may come a time when letting some of your staff go is the difference between surviving or seeing your business go down the drain.

Curb your lifestyle
I know that can be hard … partners and children develop an expectation of what their lives should be like but what sort of lifestyle will they have if you go broke. So bite the bullet … sell the jet ski … cancel that expensive holiday … eat at home more often.

It can hurt but it’s what you have to do if you want to survive.

Keep your business premises neat and tidy
When things are tough some people tend to let things slide and their business premises is often one of the first things to start looking shabby. Their cars don’t seem to get washed as often either … and their websites never get updated.

If you want people to do business with you then you have to look as though you’re worth doing business with. Keep your office space or your workshop neat and tidy … keep your cars and vans washed … and keep your website up to date.

If you can’t afford to spend a lot of money updating your website talk to us … when it comes to small business website management we’re the experts. We understand small business.

Look for ways to expand
Expand?? In tough times??

Yes … when times are tough and your competitors are hiding away till the storm passes there are always plenty of opportunities around. Be cautious and don’t rush in but at the same time don’t be afraid to grab an opportunity to grow when it comes your way.

Have a positive mental attitude.
When you can’t pay your accounts and no one is paying you keeping positive can be all but impossible but if you want to survive it’s what you have to do. Look for ways to stay positive … keep your mind away from negative thoughts … keep encouraging those around you and let others encourage you.

Stay positive and you will survive … believe me, there have been times when a positive mental attitude has been the only thing that has kept us going.

Are Some Clients Really Worth the Effort?

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Over on Web Worker Daily one of the questions raised in a post about surviving in 2009 is whether or not some clients are really worth the effort.

That’s an interesting question and one that Toni and I are pondering right now as we look at those who are making us money and those who are just a drain on our time and resources.

We’ve actually reached the point where we’re ready to let one of our long-term customers go simply because they have become a drain on our time and they’re not going to like it when we increase the rates we charge them for the work they expect us to do for them.

In many ways it will be sad to see them go but sometimes there just aren’t enough hours in the day to deal with clients who want everything done very cheaply because times are a little tough and then don’t appreciate what you have done for them.

So does your small business have customers that you should really let go or are you going to put up with them for another year?

Still Alive and Breathing

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If you’re involved in small business right now then you’re probably looking at what’s happening with the world’s economy and wondering if you’re going to survive all the turmoil.

The fact is that a lot of small businesses probably won’t survive the next year or so but if you’ve been taking my advice and working hard to reduce your debt levels these last few months then you’re probably in a much better position to survive than most.

If you are in a good position financially then now is not the time to go spending money on luxuries … now is the time to put even more money into building your business. Now is a good time to purchase new equipment if you need it. Prices are coming down as suppliers find it harder to shift their stock.

Now is a good time to increase your advertising. There are still people and other businesses out there looking for what you’re selling so advertise your business so those potential customers can find you.

Now is a good time to look around for new staff. As more and more people lose their jobs the chance of picking up some very talented employees is increased but don’t hire people unless you have the work to pay for them.

Now is the time to look at expanding your business into new areas. As other less well-managed businesses fold new opportunities will open up for those that can survive so watch for those new opportunities as they appear.

Now is the time to be a little bold and not run and hide until the economic storm is over. It’s at times like these that some small businesses have the opportunity to make money so don’t be afraid to be out there in the marketplace.

And what have we done? Are we following our own advice? You bet … we’ve purchased new equipment this week … we’re expanding into some new areas and we’re increasing our advertising and we’ve got new leads and new orders coming in.

So if you run a small business now is the time to see whether you’ve got what it takes to survive.

When Things Go Wrong in Your Small Business

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I guess that if you’ve read my ramblings here you could be mistaken and think that everything about our small business is sweetness and light … problems never arise … the wheels never fall off … and we simply go on from strength to strength. If that’s what you think then I’m about to disappoint you.

You see, our small business is no different to any other out there … we have problems just like everyone else and for a few days this week things really went downhill. Wheels were falling off all over the place … and wheels we didn’t even know we had fell off.

So what do you do when things go wrong in your small business? Do you panic? Do you run around in ever decreasing circles till you disappear up your very own you-know-what? Or do you calmly assess the situation and get on with the job of fixing it?

Let’s face it, very few of us can assess a situation calmly when you’re standing in the middle of potential loss that could cost you tens of thousands of dollars … so don’t feel bad if you’re like most of us and you indulge in a little panic.

Just don’t let the panic go on too long and while you’re panicking be careful about the decisions you make and the things you hear people telling you. All sorts of odd communication filters come into play when you’re panicking and what you hear may not be what someone is really telling you … and that can lead to even more problems.

So when things go wrong get over the panic stage quickly and only then can you really get down to the serious business of fixing those problems that have suddenly appeared.

Getting Some Public Exposure

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The difference between survival and death for a small business or home based business depends on whether your potential customers know you exist or not. Sometimes that can depend on whether or not you can manipulate the media.

You will find some interesting thoughts about that here.

It also goes to show why sometimes using Google Adwords as a source of advertising revenue on your web pages doesn’t always work. The article talks about manipulating the media and Google wants to advertise the Bravado Nursing Bra. (I wonder what Google will show on my site?)

The Cost of Doing Business is About to Go Through the Roof

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Here in Australia we’re going through our usual fuel price increases that happen just before major holidays. Lots of people are complaining and lots of people are suddenly finding that it’s costing them a lot of money just to move around their local area.

Unfortunately worse is to come and not just for Australia. Here analysts expect the price of fuel to reach $3.00 a litre by next year (and some suggest that it will get there well before next year). Other countries won’t escape the fuel price rises because demand has now far outstripped supply and the simple economics of supply and demand are cutting in.

So the price of fuel is going to impact on everyone because everything that we buy or sell relies on fuel for production and/or transportation.

So now’s the time to start identifying all the ways that the rising fuel price will impact on your small business. It might be something that is rather scary to do but it’s far better to be prepared than to leave yourself exposed by sticking your head in the sand.

Five Things for Small Business People to Remember When Surfing the Net

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    1. Anyone who tells you that they are a guru in their chosen field isn’t

    2. Half the people named as supposedly satisfied customers that some websites use to promote their services don’t even exist

    3. If anyone uses the term “trust me” then don’t

    4. Half the people who claim to have been around on the Internet since 1996 didn’t even own a computer back then.

    5. Free downloads always cost something.

Thinking About Small Business Cash Flow

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Cash flow has very definitely been on our mind again these last few weeks as previously reliable clients have had us do work for them and then failed to pay us. For most small businesses it doesn’t take much to reduce a steady flow to a terrifying trickle and so working on your cash flow is always important.

Sometimes ‘working’ can be as simple as doing some reading on the subject so you might find a new book that is about to be released quite helpful.

It’s not out yet but The Truth About Small Business Cash Flow: Why Making A Profit Doesn’t Mean Success does look interesting and you can register to be notified when the book is released.

Small Business Insurance

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I hope you will pardon my apparent absence for the last few days but the pressure of work has just kept us from so many things that we would much rather be doing. The work is still there to be done but we’ve hit one of those strange little lulls in a project that comes while others catch up to us.

Of course, right in the middle of all that work a major storm swept through the region and knocked the power out for over five hours. We were not impressed because it hit about 6pm and affected a wide area around where we live.

Fortunately we could continue working with our laptops and so the loss of power didn’t affect us too drastically. We even had the good fortune for the power to out at a point where we had both saved all the work we had been doing so we weren’t too badly affected by the blackout.

However, things could have been worse and the experience has just brought forward the purchase of several uninterrupted power supplies (UPS). A UPS is basically a battery back up for your computers and gives you ample time to save all your work and shut down the computer if a blackout strikes.

Little insurance policies like a UPS and the laptops are important for small business and we also found another useful task that a laptop can perform. Dining by the light of a laptop screen may not be all that romantic but at least you can see what you’re eating. :)