Some thoughts for 
                                       Your Small Business During 
                                             A Weak Economy

First & Foremost be aware not everyone is hurting in this weak economy.  The gloom and doom expressed from media reports is currently an every day media fiasco.

The reality is not everyone is suffering during this uncertain time.  In fact, many businesses remain the same and actually others benefit from bad economies.

You always want to be attentive to your financial assets.  How much revenue is being generated daily?  Is my business recession proof?  What can be accomplished in my business without hurting the bottom line?

You should be constantly re-evaluating all of your business strategies.  If you have the discipline and the desire you can actually re-focus your business more quickly and easily than the big companies.


You may want to consider during this time of uncertainty your MARKET STRATEGIES

Muster up some creative thinking.  Your objective is to continuously attract new business clients.  You need to understand which of your products or services could be considered "essential", then base marketing efforts around them.

Use various means of marketing your business other than the conventional marketing.

Possibly, targeting a broader geographical market.  You never know what may enhance your sales just by reaching out of your local familiar area.

Keep a file of all your ideas.  It's all timing and you never know when you may put that great idea into effect.

Focus your marketing strategy on your prime merchandise, but also be consistent in your planning.  Try something cost effective and at the same time giving you the mileage you seek for your business.  Something to offer your customers is a one-page newsletter.  (You may want to generate the newsletter every two months)

The want to succeed is your ultimate goal!  Will a newsletter generate business?  Is it a waste of time and money?  You can do this a few times but keep watch of your sales.  If you don't see any increase after a fair amount of time, then you may want to be ready with your next plan. (Remember the need to adjust for seasonal; along with holiday times)

Keep your name in the public eye.  It supports you and says that you are open for business ready to  provide a service or product.

Is there a product out on the market you want to add to your store?  Ask yourself; is your business or the product just like the other stores/will that compliment what I currently offer?  Will it increase clientele, or sales in some way?

Talk the talk to all your family members, friends and customers that visit your premise.  Find out who their neighbors are.  Maybe they had never come to your establishment.

Offer an incentive for referrals.  Offer good quality products at fair prices.  Being aggressive in sales and superior customer service and reduce cost when needed.


Example: Cost-effective Marketing

You own a store; you have a particular style bag for packing your customers purchases.  Use that bag to your advantage.  Run your weekly specials or coupons.  Whatever you have to say, use the bag to tell your story.  The same bag materials can be used for your newsletter.  With your logo, coupons, ads and now using the same bag style for your newsletter, your bag then becomes your trademark.  This bag subsequently becomes recognizable associating the bag to you and your business.


No matter what service you offer, with creative thinking you should be able to develop several "new" ideas, all of which will help keep you ahead of the game.  Position yourself to be a Market Leader as opposed to a follower.  Set yourself apart from the competition; see your planning as an asset, where others may see marketing as a liability to their bottom line. Marketing is the first thing that businesses cut when there sales decline and that should not be the case.


The economy will settle down and once again you will have found a new marketing nitch's, for your business.

The Economic Development Council of Northern Vermont operates two revolving micro loan funds in eight counties to address the demands of small businesses.  The funds and technical assistance provided by these programs have proven to be a valuable resource for entrepreneurs.  To learn more, select from the list below or to the right. 

Northern Vermont Lending Partners

Micro Business Loan Program