August 06, 2010

Business Strategy: Top Ten Tips and Tactics for a Tough Economy

Whatever you call it, the rate of income growth across US businesses has slowed to a crawl, and that is scaring the pants off of a lot of people. Your own business may not be affected in any way, but the fact is many people are worried about their future. Very worried.

Bad news? In some ways, yes - obviously. Worried folks spend less money. They no longer buy on impulse, making each transaction, each sale, a little bit harder.

But for those of us with the right approach, there’s hope. Hope and opportunity.

Why? Because when everyone else is selling with less vigor and determination, you can do the exact opposite. While timid business owners are pulling in their horns and "conserving cash" you can outmarket them. As the unemployment rate creeps up, you can acquire their staff more easily. And good businesses are for sale and can be bought on the cheap.

Here are a few business coaching tips and tactics that will definitely help when things get rough. These tips apply whenever your company needs a boost. You can think of them as turnaround tactics.

1. Sell Harder…

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