Keeping Your Business Afloat in a Bad Economy

Do scenarios like those sound familiar?

The prospect who seemed excited about your product last month is stalling this month. Another company says they want to buy from you, but want you to cut your price in half. Then you found out your biggest client is going to start using an overseas company to do the work they had been outsourcing to you.

Here are a few tips to consider:

Reinvent your business

The smaller and leaner your business already is, the faster you can shift gears and get back into action. Take a hard look at your strengths and weaknesses and possible markets. If you're not selling online, why aren't you? Don't guess…analyze your existing sales and talk to prospects. What do they need? What can you provide? What's the best way to deliver solutions to them? What's going to bring in the most profit? Revise your business plan based on your answers and then start to work your plan.

Contact former customers

Don't assume that a customer who stopped buying from you in the past will never buy from you again. Customers' needs and circumstances change, just as yours do. The customer who went with a lower-priced competitor may be dissatisfied with the quality or service and be receptive to a call from you today.

Call former prospects

The bigger a business, the slower they are to move. The project that was put on indefinite hold last quarter may become urgent now. Touch base periodically. The more recently you've contacted a client, the more likely they'll be to remember your name and number when they are ready to buy.

Contact competitors of present or former customers

If a company needs what you sell, there's a good chance their competitors do too. Industry groups you belong to, trade shows, seminars, and friends in the industry can all help you identify likely prospects.

Sell additional products and services to existing customers

Often the easiest way to bring in new business is to sell more to your existing customers. You may be able to sell more of the same product to the same contact, or sell the same product to a different division of the company. Keep your eyes and ears open for new opportunities and be sure your customers are aware of all of your capabilities.

What’s Your Business EQ (Etiquette Quotient)?

Test your workplace manners with this “Busiquiz” to see just how fast you will be “smoothing” your way up the ladder of success.

Read each statement and write down “true” or “false” for each. Then check the answers below to gauge your climb.

The Quiz

1. When shaking hands in business, a man should wait for a woman to extend her hand before offering his.
2. When introducing business people, say the name of the most important or senior person first.
3. When talking on the phone, your tone of voice counts more than your words.
4. The first place to go when you arrive at a business/social function is the bar.
5. Women may remain seated to shake hands in business.
6. Business casual means dressing down one notch from business professional.
7. You should always use a subject header when sending an e-mail message.
8. The guest decides when to start talking business during the meal.
9. If the information on your business card is incorrect, draw a line through it and write the correct information on the card.
10. If you can’t remember someone’s name, don’t attempt an introduction.
11. Handwritten notes are out of place in the business world.
12. Name badges are worn on the right shoulder.
13. A woman’s handbag, if small, may be placed on the boardroom table.
14. Small talk is not appropriate in a business environment.
15. In today’s relaxed business environment, it is not necessary to ask your clients’ permission before using their first names.

Grade Yourself

1. False. It is no longer necessary for a man to wait for a woman to extend her hand. In business, everybody shakes hands regardless of gender or age.
2. True. Always say the name of the most important person first or the name of the person you wish to honor. Follow that with “I’d like to introduce...” or “I’d like to introduce you to...”.
   
3. True. Studies show that 70% of your message is conveyed by your tone of voice and 30% by your actual words. It’s not what you say but the way you say it that counts.
   
4. False. No matter how hard your day was, resist the urge to go straight to the bar. After all, these business/social functions are more about business than eating and drinking.
   
5. False. A woman who remains seated to shake hands in business appears to lack confidence. She sends a message that she is not as important as the people who are standing.
   
6. True. Business casual did not start out as an excuse to wear your favorite old clothes to the office. It is still business, and you should always look professional.
   
7. True. Why would anyone want to open an e- mail message with “no subject”? You always want to give the recipient a reason to read your message.
   
8. False. The host is the one who decides when to end the small talk and get down to business. As a rule, the business discussion begins after everyone has ordered so the conversation will not be interrupted.
   
9. False. Have new cards printed as soon as possible. Handing out outdated business cards sends a poor message.
   
10. False. Always make the introduction. Everyone notices when you try to avoid it and will suspect that you can’t remember the other person’s name anyway. The best thing to do in this situation is to confess your loss of memory, beg forgiveness, and ask for the person’s name.
    
11. False. Handwritten notes are very impressive. They give the idea that you went to extra effort, whether this is true or not.
    
12. True. The right side is the correct side. Since you shake hands with your right hand, the eye naturally travels to the right shoulder.
    
13. False. The only objects that belong on the boardroom table are those that are necessary for the meeting.
    
14. False. Small talk is the basis for building and maintaining relationships in business.
    
15. False. While most people prefer to be called by their first name, use titles and last names until you are told otherwise.

What’s Your Score?

• Give yourself one point for each correct answer. If your score is 13 points or higher, you are speeding up the ladder of success.
• If you earned between 9 and 12 points, you’ll most likely make it to the top.
• If you scored 8 or below, chances are that you can climb the ladder, but you won’t make it all the way to the top.

Adapted from Lydia Ramsey a business etiquette expert, professional speaker, and corporate trainer. She is the author of Manners That Sell—Adding the Polish That Builds Profits.

E-Mail Overload... Not Anymore

Use e-mail as a tool for clear, efficient and compliant communication. E-mail offers numerous opportunities for employees to deliver their organization’s message—and it presents many challenges to clear communication. More and more people just can’t keep up with e-mail. Do not let this happen to you. Get a grip on the problem before it is too late.

Slash the number of new messages

Everyone is at the mercy of time...and too much time is wasted going through unwanted e-mails. Your first goal is to reduce the amount of incoming e-mail. So cancel subscriptions to unwanted mailing lists. The messages become a nuisance if you don’t have time to read them. A good spam filter reduces the amount of spam reaching your inbox.


Take advantage of subject lines

Subject lines should relate to the body of the e-mail. So be as descriptive as possible. Subject lines that say things like "question" or "hello" should be avoided. Recipients won’t know what the message is about. If you have a one-line e-mail, put it in the subject line. This will save you and the recipient valuable time.

When possible, create a set of codes with your co-workers. Placed in the subject line, codes help you process and prioritize messages. For example, use "FYI" for informational messages. Use "AR" for action required and "URG" for urgent messages.

Forwarding and copying

Be courteous when forwarding an e-mail. Summarize the message and say why you’re forwarding it. This is particularly helpful if the e-mail contains several messages.

Don’t copy someone on a message unless it is necessary. And explain why you’re copying them. Recipients won’t need to guess your intentions. This means less back and forth messages.

Respond appropriately

Not all e-mail requires a response. If you receive an e-mail addressed to several people, you may not need to respond. If a response it required, it may not need to go to everybody. Be succinct; restrict your messages to a few sentences. If you can’t, pick up the phone or talk in person.


Be disciplined

Avoid the temptation to check your e-mail every few minutes. Check it every hour on the hour for important messages. If you can go longer, do so. Of course, this might not be feasible in some work environments. Set time aside each morning and evening to process your inbox. When you’re done, it should be completely empty. File messages you need to keep. Set reminders for messages that require you to follow up.

Respond to messages immediately, so you only read them once. There is an exception to this rule. If emotions might govern your response, give yourself a cooling-down period.

Adapted from The Kim Komando Show

Optimize Your Network & Support Team

In a headwind economy it is vital to keep costs down without sacrificing the reliability and performance of your IT infrastructure. I have found that many of the small business clients that we work with are not using their technology investment to it's full potential. Given the chance to review workflow and business processes we are often amazed by the ease of discovering ways to leverage existing technology to benefit clients far beyond the cost of the service provider. It is very rewarding to contribute to the success of a small business that is facing challenges in this economy!

Small to mid-size businesses (SMBs) can't afford the loss of man-hours or revenue due to their network and critical systems going down. You do not have to go without the benefits of having the IT infrastructure and support that larger companies enjoy. Consider hiring a Microsoft Small Business Specialist to review your network and recommend infrastructure optimizations. You may be able to leverage your existing technology investment to reduce other costs. Be sure you hire the most reputable person you can find and the return on your investment will be easy to measure.

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If you are in the Maryland/DC area Real Computer Solutions president Ashot "Vinni" Mirzaians M.C.P., GSEC and his team have provided our clients a tremendous amount of support at reasonable cost.


Michelle Clark, PMP
Chief Marketing Officer
Amici Communications