![\"image\"](\"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2011\/09\/moneybelt.jpg\" "\\"moneybelt\\"")
The economy is struggling, and small businesses have been hit the hardest. However, amid all the downsizing and leveling of growth there are lessons to be learned, ones which are forgotten in better economic times.<\/p>\nThe economy is struggling, and small businesses have been hit the hardest. However, amid all the downsizing and leveling of growth there are lessons to be learned, ones which are forgotten in better economic times.<\/p>\n
Money Means Frills \u2013 <\/strong>As a business owner, its easy to be seduced by things you think you need, especially when those in the same industry think they need them as well. I\u2019m talking about spending money on premium designs and logos, fat stacks of high-gloss business cards, cutting edge ad space, and automated phone systems. As good as these made me feel, I honestly don\u2019t think any of them really helped me make money. Sure they may have moved some more product, but too often they were tacked on expenses that didn\u2019t do that much good. These upgrades are nice, but in times like these such investments should do two things: get customers to choose you over others, and keep them once they\u2019ve done that. If it doesn\u2019t do that, its probably a waste.<\/p>\n Debt and Focus <\/strong>\u2013 Reduced cash streams gets you focused on what matters. Less money means your unique sales pitch has to be absolutely top notch, since you can\u2019t hide behind gimmicky layouts and flashy websites (see above). You have to rely on value alone. Your customers need to remember and talk about your products. In the end, low-budget marketing campaigns based on serious commitment to an excellent service is fun, authentic, and memorable, not to mention affordable.<\/p>\n Character. Innovation. Success. <\/strong>\u201cWax on. Wax off.\u201d Like the Karate Kid, getting back to the fundamentals of business discipline will only generate revenue, and perhaps uncover possibilities you hadn\u2019t seen before. Remember the scene from Gone With the Wind where Scarlet O\u2019Hara makes a dress out of curtains so she can get $300. Desperate times lead to desperate measures, but \u2018desperate measures\u2019 often means efficient, bottom-line success.<\/p>\n \u201cBootstrapping\u201d<\/strong><\/p>\n For many of us, the idea of roughing it means reducing cell phone minutes. Here are a few guidelines for what effective reduced-cost strategizing should mean.<\/p>\n Companies who economize know the importance of close relationships. They know that loyalty and honesty are what matter most, and that will thrive in any economy.<\/p>\n","protected":false},"excerpt":{"rendered":" The economy is struggling, and small businesses have been hit the hardest. However, amid all the downsizing and leveling of […]<\/p>\n","protected":false},"author":128,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[180],"tags":[599,906,428,1006,852,393,342,977,882],"yoast_head":"\n\n