I recently received this email adapted from the December Issue of CEO Online and thought it had some very valid points in light of the prevailing economy.

Firstly, real success is sustainable and happens in any economic climate, in spite of external influences.  Businesses that survive and thrive the tough times are those who adopt an attitude of discovery rather than resistance. More importantly, they focus on their customers

With the global economic crisis, the media is predictably focussing on the negative.  Negative stories sell newspapers, but they do nothing for people’s confidence.

Negativity creates a sense of resistance, and while resistance to unpleasant situations is an expected human response, it also stymies a business owner’s capacity to focus and focus.  The reality is that in tough times there are just as many opportunities as there are in good times – maybe even more.

A lot of it has to do with mindset and education.  You must start with a clearly defined goal in sight and remember the cost of education is always going to be cheaper than the price of ignorance.

Here are some suggests to help you focus on what is important in your business in the current climate.  They focus on how you attract, retain and develop your relationships with your clients, and obviously need to be looked at in conjunction with the other major areas of your business such as retaining profitability and cash flow, strengthening your supply chain and looking after your people. However, there are some very valid points here:

Put your efforts into your existing clients – Relationships are everything

It sounds obvious, but losing clients through neglect or sloppiness is especially painful in tough times.  The cost and difficulty in replacing them is greatly increased.

Regardless of the economy, your client list and prospects are your greatest asset.  Even more important is your relationship with them and what you’re known for.
The truth is that most businesses fail because of an inability to keep customers coming back, rather than an inability to attract customers,

Grab your customer’s attention – Be innovative

Most people in business have unreasonable expectations about the results they will achieve with plain vanilla advertising and marketing.  The one thing your clients and prospects won’t put up with is being bored.

Your advertising must get people’s attention
If you can’t make a compelling case in your advertising to choose your business over your competitors, you have no business spending a cent on advertising.
Here is the five step test you should put all your marketing and advertising through. 

Does it:

• Get attention;
• Arouse interest and emotion;
• Tell an interesting story in a believable way;
• Offer an incentive to take action now; and
• Ask for action and make it easy to do what it is you want them to do.

Make appropriate adjustments to services, payment options and products

David Ogilby, one of the greatest advertisers of all time said ‘All advertising should be news.  Find ways to present what you do, the services you provide, or the products you sell expressed as news.’

Find ways to use what is in the news and on their minds about the economy to your advantage.  This does not necessarily mean slashing prices.  It may be message related or it may mean arranging better or more financing options.

Better still, focus only on the products and services you sell that produce the bulk of your turnover, and then do it better.

Only run offer-based advertising – Accept change

There is little point of advertising without an offer to respond to.

Contrary to many famous advertising and copyrighting gurus who maintain that the headline is the first thing you write, I suggest the most important thing to create is the offer.

The reason the offer is important, is that it breaks down the major barriers to business – lack of trust and scepticism.  In tough times you can’t afford to be boring.

Avoid blame – You are the answer

The truth is that money is made mentally long before it is physically collected.  The old saying is true: ‘People have more hang-ups about money than they do about sex.’

In my experience, most people prefer to take the easy option and blame circumstances beyond their control, like the recession, the education they didn’t get, the parents they never had, the government of the day or anything other than them.

In many cases, the difference is acting on the getting and using of information.

Geoof Butler - Vestra Business Advantage