Thoughts for the still New Year

Thoughts for the still New Year:

1. There are two positives for smaller businesses as unemployment drags on. To start, good people with skills and experience that could fill a gap in your business may be available. If circumstances are right, they may be more interested in creative compensation packages that might include ownership possibilities than in returning to the big business world.

Community job search centers, many church run, are a good source.

The other side of the unemployment coin is equally bright. Now short-staffed, larger businesses may need your services as they seek to plug gaps in their own staffing.

Do some thinking, then put together a cost-benefits proposal built around your capabilities and corral a new customer or two.

2. Do a SWOT analysis, or ask a trusted adviser to conduct an analysis on your business. The recession has changed your competition, your marketplace and, therefore, your opportunities.

Work hard to determine your business' strengths and weaknesses, opportunities and threats. Commit to fix the weaknesses, which may take some time; turn your strengths into business-building opportunities.

Identify the threats. What if a major customer doesn't make it back? What if a primary supplier fails? What if the business next door builds the better widget?

3. Commit actual dollars to marketing, then follow through.

Spending a lot of money isn't the goal; spending marketing money wisely is. Take an honest look at your marketplace; determine the strengths that give your business an edge; and promote the differences.

4. Fix your Web site. Most business Web sites go months (at least) between updates. The world has changed. Products have changed. Your customers' needs have changed.

If nothing else, freshen the graphics so your site looks new - and is more interesting to regular visitors.

Especially, make certain the site is easy to navigate. Visitors will click no more than three times to find what they came looking for. The fourth click - sometimes the third - is to another site.

5. Don't think you have to carry your business' weight entirely on your own shoulders. Now, in fact, may be a good time to ask an outsider - someone with practical experience who understands small businesses, their opportunities and the potential problems they face - to look at your business and make suggestions.

This shouldn't be one of those six-figure consulting jobs that takes six months and has six consultants running through your place. And, unless your business is in a truly deep hole, you probably don't need a turnaround expert.

The outside review, less intense than a full SWOT, should include ways to shore up any weak spots, but the intent should be to help you position your company to take advantage of an improving marketplace.

E-mail me if you'd like help with sources.

Questions, comments to Jim Kendall, JKendall@121MarketingResources.com. © 2010 121 Marketing Resources, Inc.