According to the U.S. Census Bureau, over 200,000 businesses closed down between 2008 and 2010. The tough economic times during that span forced many small businesses around the nation to fold. Many entrepreneurs have been riding the wave and hoping to still be holding on when things level out. They would also, if they could just find a way, like to grow their business during this time, rather than simply stand still and take a wait-and-see approach.
“The economy has been tough for several years, especially for small businesses,” explains Gary Barnes, a successful entrepreneur, international speaker and high-performance business and sales coach. “That means it is time to take a new approach, re-evaluate the things that are being done, and find a way to meet that challenge head on.”
There are things that small businesses can do in order to maximize their ability to weather the economic storm, including:
• Remain positive. A positive attitude can go a long way toward helping a business grow. Good vibes arise from positive attitudes, which then have a ripple effect on employees and customers.
• Focus on service. It is important for a business to keep every customer that it has, so providing great customer service is a high priority. Those customers will stay happy, keep coming back, and help provide referrals to grow the business.
• Diversify customer base. Avoiding having all your eggs in one basket is always a smart approach to take. The more you can diversify, the easier it will be to grow your business.
• Focus attention. Sometimes we get distracted and spend too much of our time worrying about things beyond our control. We lose sight of what we want, and of our goals. This is an especially good time to bring the focus back to the business and to what needs to be done to help it grow.
• Get a guru. Working with the right a business coach can become an important part of an entrepreneur’s success. A good business coach will identify issues, find resolutions, offer guidance, and bring out the best in each person they work with.
“The job of any coach is to help identify strengths and weaknesses, and to show each person how to be an even better version of themselves,” added Barnes. “It is the same with business coaching. We can see what people often can’t see for themselves, and help them to determine what it is that they want and how to make it happen.”
Gary Barnes offers business coaching, as well as business boot camps. He also does international speaking and is an author of several books. For more information, go to www.garybarnesinternational.com.