My Business Is Failing

Published: 09th July 2009
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If you're in the unlucky situation where your business is failing, then this blog post will give you some fast, fast action tips about how to stop a business from failing.

1) Raise Your Prices

For a large amount of entrepreneurs, this recommendation is counterintuitive. They see a large amount of their competitors reducing prices so, like lemmings, they do the same thing. All this does is help you go out of business quicker. The reality for lots of business owners is that there are less folk out their buying whatever service your business sells. If you lower your prices, you'll find that you're making less money on the people you do get in the door. Lowering costs and going for more volume is rarely a smart method, and it's particularly threatening for a small business owner. So try this instead.
Raise your prices.
That's right, charge more. I recommend adding more price to whatever it is you offer as well. Give a bolder guarantee. Improve your shopper service. Since you have less people purchasing for you, the smart way to make up for it is simply to make the exchange cost of each customer higher.

2) Contact Prior Customers

Here's a straightforward system that will bring in a large amount of money to your business quickly (as a specialist, this is my fave one to use when a business retains my services ). If you've built up any sort of past customer/client list at all, then this is a no brainer. Send them an offer in the mail (mail works better than email) giving them an offer they can't refuse.

If you are in an enterprise that conducts business that does business with a person then hit up that past buyer list for referrals. But in this sort of business environment it might behoove you to get all you are able to out of all you got.

3) Get out and sell something

So many business owners are afraid to sell something. They want to kick back and take the drip of folks that somehow manage to find their business and give them money. Well, that may work O.K in a business upturn, but when there are less consumers in the market, not so much.

So get out and sell something.

Do something. Be somewhere.

Move Fast!

If you want to save a struggling business, then be proactive about it. Don't simply sit there and moan about it. Want some help? Get my totally FREE report, the Business Bailout Plan at BusinessBailoutPlan.com

My Business Is Failing

Small Business Turnaround


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