How to Build Your Business During Tough Economic Times

I attend as many business programs as possible to help my business - in good times and bad - not only for me but so I can share what I learn with clients and others who are unable to attend for whatever reason. There's always an aha moment, a different perspective that makes me say "ahhh ... yes ... I know I'm supposed to do that ..." or "hmmm ... didn't think about that one ..."

Yesterday (Feb 24) I attended a free two hour program presented by Patricia Merolle of Winning Inc and the Peabody Area Chamber of Commerce (PACC). Patricia ran an energizing session about growing a business during tough economic times using a Self-Assessment Grid. Using the grid we (it was a full room by the way) evaluated how our time was spent during the day (paid time versus non-paid time), how mentally tough we are and who we have in our support system among other things.

My big moment was about scheduling 3 days in my calendar weekly: a buffer day for admin, a focus day (all days are focus days) to get work done and at least one free day when you shut off the computer, the phone and do other things not related to work. And it's that free day that I often forget about. Yes, I take a day off here and there, but for the most part I work 7 days a week, whether I answer email or not I'm at the computer working (to the annoyance of family and friends). According to Patricia, we should work 265 days not 365, and we should take vacations. I'm a typical entrepreneur - if I take days off and vacations I feel anxious - even though I'm not a brain surgeon or rocket scientist. I know that I can burn myself out, but I'm an entrepreneur! Entrepreneurs are like the cheer leaders of the business world -- always cheering and always optimistic, believing that we'll win no matter what ... burnout won't happen. Uh huh.

I also learned something else: I tend to think of networking as important but not as important as production, so when categorizing networking I put it into the unpaid category (being literal as I am). Patricia set me straight on that. It's pay time because it's helping you build your business, not helping you do your job. For me that means, research is unpaid time (I kind of knew that); networking is paid time (I didn't really think of it that way).

Patricia talked about customers and that not everyone will or should become a customer. She used a memorable acronym for this: swswsw - some will, some won't, so what. I think this is perfect for business and Web site traffic in general. So many people I talk to get upset when every single Web site doesn't contact them. There's a general perception that anyone that comes to a site should become a customer. The reality is, the Web site helps to pre-qualify site visitors so you won't waste valuable time with someone who never intends to do business with you, they are just kicking the tires.

Much more info was covered, too much for this blog, and I recommend local business owners attend one of these PACC sponsored meetings, or another meeting if you are outside the area. The Peabody Chamber is very pro-business and does a lot of different things to help support and promote their members. Patricia donates time to the chamber regularly and also runs other paid programs that members rave about.

Times are tough, and if you listen to the news they are going to get tougher. If you prescribe to the saying "when times get tough the tough get going", get out there and attend some of these programs, join a chamber and/or another organization that provides support, encouragement and ideas. I believe that everyone who attended yesterday's meeting left feeling inspired and more optimistic and I look forward to seeing these people succeed.