Small business success in economic uncertainty

Don’t buy into the media mood

While the media is constantly creating panic in the minds of the consumer, I want you to think about your own situation. The last time you went to the shopping centre, was it empty? When you visit your favourite restaurant, are you the only one there? 

Personally, everywhere I go, I still see people waiting in line for a coffee, I still see people waiting to buy. There are still sales to be had and people still have money to spend. 

I’m telling you this to point out that the media wants you to be scared. Why? Because fear sells newspapers and boosts ratings. The media doesn’t focus on good healthy corporations, entrepreneurs starting new businesses and launching new products and doing well, or the many other successful small business stories in this country. That wouldn’t sell. 

So, don’t let the media'sfocus on economic uncertainty dictate your outlook. Relax. And if necessary, completely disengage from the media. Otherwise, your marketing decisions will be negatively affected and you’ll start acting like many other people out there: freaked out. 

Don’t be manipulated and scared beyond belief when the reality is that your clients are still buying and are still interested in what you offer. In fact, they still need you! 

Turbo charge the value you offer

If you’re prepared to adapt, change and create a new strategy, then there’s no reason to worry about your financial future. 

The bottom line is you can make money, but you may need to approach things differently to the way you’re approaching them now. Your prospective clients still need your information, still need your services, and are still spending money. But, they’re spending it with businesses that provide fantastic, irresistible, wonderful value. 

To be irresistible, you MUST make yourself more valuable. I’m not talking about the amount of value you think you’re offering now (which may have been enough in the past. when the economy was strong). I’m talking about adding so much value that people don’t have any choice but to work with you. 

A solopreneur who creates more value for their clients both personally and professionally, and creates it in new and different ways will prosper regardless of whether the overall economic conditions are good or bad. 

Marketing is more important than ever

When you’re of service in a BIG way, you make money. Yet, the only way to be of service in a BIG way is to let people know what you are doing. 

You’re going to need to get out there and let people know what solutions you provide. You’re going to need to create compelling marketing that works. (If you’re not sure where to begin, asking yourself these marketing questions is a good starting point). 

Reposition yourself and present yourself as THE expert with THE solution to your customers’ needs and desires. Demonstrate how valuable you are by showing your prospective clients that you bring strategies to the table that others don’t possess. (And if you don’t know what those strategies are, then it’s up to you to do whatever you can to discover them, learn about them and apply them). 

Most importantly, stay optimistic. The times may be dark and gloomy, but if you’re the person with the light you’ll have everyone following you. 

Have you got any tips for small business success despite economic uncertainty? Please share them below.