How Can You Grow Your Business in a Down Economy? By Lee Percival At Isnare.com Ezine Articles

These are difficult times for many businesses. Many are being forced to close their doors for good. Others are just barely hanging on to what little is left of their businesses. It would seem totally out of place to talk about growing your business, then, right? It is not as far-fetched of an idea as you might think.

It does not matter where you are; there are some things that you can do in order to help you expand. Here are the ways that you might consider doing just that.

Examine your income and expenses. If the amount of business coming your way is down and is directly tied to economic forces (people are no longer buying your product or service) then you need to make some financial decisions in order to cut expenses and increase income.

Cutting expenses includes the usual things that make up business overhead. Rent, utilities, inventory costs, and yes even personnel are all a part of this decision. These are the tough decisions because they directly affect your ability to make money. Yet if you do not have the income to cover all of your expenses, you cannot continue the same course without some adjustments.

Any items that are considered ‘extras’ or non-necessities in the running of your business should be examined closely as targets. It is time to make these items a thing of the past, understanding that if the economy and your business picks up, you can begin them again. Things like buying lunches out, entertainment or parties are all candidates for cuts. Also, consider shopping for necessities at a budget store to help save money.

Next, what about examining your phone system costs to see if you are really getting your money’s worth. What is good about this is that you could actually cut your costs and increase your sales at the same time.

If you have multiple lines into your business then you know the cost of those lines. But if you consider dropping one or more of those lines and adding an 800 number and PBX system, you could save some money. These numbers and systems are more affordable than ever. In fact, incoming calls are only pennies, depending on the plan you choose.

The back end PBX system directs calls to departments and extensions that are in your business. These allow you do cut down on the number of inbound lines that you have. Also, you can reduce your staff by having this system handle the routing of calls to their proper destination as well.

It has been proven that adding an 800 number can increase your business by as much as 15%. This is because you supply a toll-free way in which customers and prospects can reach you which takes down a big barrier to doing business with you. And, do not forget that those customers and prospects are also looking for ways to save money.

While these might not seem like a lot, they can add up and help you achieve success even in this dismal business climate in which we find ourselves.

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