5 Ways to Fight Panic
Have your worries about the economy turned your small business into your own personal panic room? While you’re sitting there waiting for the world to finish ending, why not use that time to be productive? Here’s a 5-step plan.
- Panic…in moderation.
Panic immobilizes you. Set aside 10 minutes each day to worry and panic, if you must. Schedule some quality panic time (just reading the news will do), then put that fear aside as a task that is DONE for the day and get back to business. - Cheap is the new chic!
This is no time to waste resources or talent. What can you do without? What can you do in-house that you are hiring out? What are you doing in-house that you could hire out for less? Go over every single aspect of your business and look for fresh new ways to do more with less. Think of it as a treasure hunt. - Brainstorm.
Now is the time to explore ALL your options. Could your web site do more? Would e-mail marketing bring in business? What about social networking sites? Can you partner with another complimentary product or service provider to expand your marketing? Would you benefit from sponsoring an event? When, where, how? Keep it going. Toss ideas around until a few of them stick. - Agility course.
You have to run smart and lean so you can keep your prices lower and keep your customers happy (or just keep them). Ramp up your service. Take a hard look at what’s working and what’s not. There’s no place for marginal performance in this economy. Be honest: what does your business need to succeed; what’s in your way; which obstacles do you have the power to remove? Move what you can and navigate around the rest. - Channel your inner tortoise!
Slow and steady determination pays off. Make at least one change based on each of the 4 previous points. Keep moving forward, no matter how slowly. Resist the urge to wait it out and do nothing. Continue to set – and meet – goals, no matter how small. Even a tiny victory can scare panic away.
—
Recent Comments