Small Business Tactical Ideas

While the media spreads the gloom, small business should be taking critical steps to improve their business prospects for the long run, for example:

1. Be a Maker not a Doer; step back from the tasks of the business and develop strategy and be “looking around corners” for the next opportunities that your business can capitalize on.
2. Network with industry players and peers more intensely.
3. Read, read and read some more (or listen to audio books).  Develop new ideas and methods.
4. Visit your major customers and vendors personally to share ideas for the future.
5. Get closer to your financing sourcing to understand their current situation.  Expand contacts for sources of capital for future growth so they have a sense of your business.
6. Upgrade your staff from the large pool of talent now available in the market place.
7. Expand training avenues for your team.
8. Use the lull to review and implement process improvements that have sat on the backburner.

Many of these do not require additional costs; only renewed efforts. Leadership and vision are key attributes now.  Keep the business moving forward even if the top line in not.  Challenge your team to focus on the improvements they have control over.  Be ready for the upswing, whether in be 6, 9 or 12 months out.