John Jantsch

Much of what is written about the economic downturn focuses on the harsh realities of cutbacks, layoffs and even bankruptcy. There is no doubt many businesses have been adversely affected already and I suspect more will be as 2009 unfolds.

However, the silver lining in all of this bad economic news is that opportunities for long-term growth are also being created. Now, I’m not one to suggest business owners prey on the misfortunes of others, but there is no question that many nimble small businesses can benefit from the current state of the economy in several very tangible ways.

Acquire your competitors

When the market roars along, even shaky businesses can seem healthy. When business slows and customers start to hold on to their money, weaker competitors often fold up and send their customers fleeing for more stable providers.

Upgrade your staff

It’s no secret that many very talented folks are being shown the door at large corporations across the land. Some of those very talented, very experienced folks will turn to small businesses as a healthy alternative. An unprecedented pool of talent is available and eager to join the ranks of the small business. read more

As companies large and small wrestle with the realities of a challenging economy, I think it’s the perfect time to be a small business.

Small businesses possess certain natural advantages in economic downturns that make them much more flexible and able to survive and thrive in slow markets. In addition, I think 2009 will be the year of the small business. The market is hungry to connect with companies and products that are more personal and real.

In recognition of this coming trend I’ve listed what I believe are natural competitive advantages that will give small businesses the opportunity to thrive in the coming year.

1. Focus - In order to survive, most small businesses must adopt a narrow market focus. In doing so, they can develop a premium reputation for serving that narrow market.

2. Reach - Small business owners are so close to their markets they can experience what their market experiences. They can deliver CEO-level experience to any size client who can connect with a client better a 25-year veteran and author of two books on the industry or two 20-something whiz kids from McKenzie?

3. Nurture - Small businesses can grow with customer needs. Often, they can create products and services that address highly personalized requests at a moments notice. read more

One of the ways small businesses are dealing with shifting economic fortunes is finding ways to keep expenses flexible. If you are trying to carve out a new market niche, create a new product line or simply remake your business into something entirely new, fixed costs such as a lease or full time staff can make charting a new course a bit trickier.

Though virtual outsourced labor and flexible office arrangements have been around for a while, these two industries as a whole are experiencing an entirely new round of interest.

Using a virtual assistant to create marketing materials, update websites and even handle customer service calls is a very smart way to keep fixed expenses down. While this arrangement still involves training and monitoring, costs for services can be attributed almost on an as-needed basis.

In many cases, organizations find they can tap into pools of assistants with very high levels of expertise in very specialized areas – something that may be difficult to find or afford in a full-time position. read more

Scan the headlines each day and you won’t have to get very far to stumble upon the word “recession” or its more palatable cousin “economic downturn.”

It’s times like these that send many small business owners on a quest for the magic recession-fighting marketing tip. Today, I would like to share my top seven quick-fix marketing strategies with the caveat that you understand nothing beats building a marketing system based on a narrowly defined ideal customer and core message of differentiation.

Being the practical guy I am, though, I also know that sometimes you need to hear about ways to start getting out of a hole before you can really listen to the message of long-term fix. The good news is that these seven strategies, applied effectively, can help you make your business recession-proof and unswayed by the various and inevitable cycles in the economy.

Take these seven tips and re-energize your marketing today! read more

When the market is rocking and all you have to do is show up and take orders, marketers can get a little lazy.

It’s when things dry up a bit that businesses must sharpen their marketing efforts.

Here’s the bad news — business is down, people are nervous and not spending like they were. Here’s the good news — there is plenty of business to be had, but you make need to take it from someone and somewhere else. Now, I don’t wish ill on any of your competitors, I list this as good news, because it’s not that hard to do.

The simplest way to up your competitive game is to get much more direct about your marketing intentions.

Here’s what I mean by that. read more

You probably already know who your best source of more business, more leads, more referrals and more growth is, right? Yes, it’s your current customers.

If you’ve grown complacent with your current customers, often a symptom of an up market, now is the time to go back to this precious resource and beg forgiveness. Or, at least, set up some processes to capture their hearts and minds before they drift away.

Find out what they think

The Best Research You Can Do - The next time a customer refers someone to you run to the phone and ask them why. Ask them what it is that you do that made them think you worthy of such an honor. Ask them the exact words they used when then told the referral prospect about you.

It’s my belief that most small businesses don’t fully understand what makes them special or unique, but their ideal customers do. read more

All the attention surrounding economic recession and business downturn can take its toll, even if your business reports are strong.

Many business owners simply can’t stand prosperity because it feels wrong. They were brought up to expect the worst, not take risks, save for a rainy day. There are even those who think making a lot of money doing something you love is somehow morally wrong. Now don’t get me wrong, I understand you went into business, started a career, took a job, so you could make money, but what’s really holding you back? The slumping Dow, the falling Dollar, the trade deficit - or your attitude towards wealth?

Deeply held beliefs can make many people see a recession as the inevitable result of the money woes, while others see it as simply another opportunity, maybe even a joyful challenge, to embrace change - knowing that the outcome will be economic reward.

So, how does this type of true entrepreneurial attitude come to be?

I believe, and thankfully I’m not alone in this one, there is a set of natural laws that control all things in the universe, including the flow of money, and once you come to understand, accept and employ them, your attitude towards money will be altered irrevocably.

The laws I am referring to are part of an increasingly understood wing of science known as quantum physics. Now, don’t worry I won’t bore you with my grasp of science - but note the word science - as in something with proof. You may have read about laws of attraction or seen guests on talk shows talk about things like karma and dismissed it all as new age nonsense, and perhaps that’s part of the hold back. read more

The current state of economic affairs cries out for leaders.

But, not necessarily for the anointed, elected or self-professed type. In fact, not even the hired and titled type.

Now more than ever you need to lead - not for fame and fortune though, but because of who you will need to become in order to do so. You see, taking the task to lead isn’t particularly noble or altruistic, done authentically, it’s a selfish objective accomplished through selfless actions.

People, and by that I might mean those in your family, church, school, association, product group or company, are hungry to connect with something authentic, and few things feel more authentic than leadership driven from a passion to become better and, in doing so, make those who follow better.

• True leadership is an inside job. It requires you to focus on yourself, on being the true yourself that connects to a higher purpose and then goes to work on purpose. By higher, I don’t necessarily mean spiritual or religious, I mean authentic - something that drives you past your fear, to a place where you make decisions about the actions you take for the good of the cause.
• True leadership requires that you live a story. Your higher cause, the thing that drives you to work on yourself, needs a simple manta. A story you tell yourself, and then others, and that is passed throughout the cause, likely becoming on it’s own something larger than you first created. It’s the rallying cry for the troops.
• True leadership takes dogged determination. Oh, others will try to talk you out of lifting yourself up because you may ask them to raise their game, you might shine a light that allows other to shine as well, but you will encounter those who want you to stay in the dark with them. You may need to say “this is how we do it here” several thousand times before you believe it so thoroughly no one can doubt you.

But in the end, the lead you take is equal to the lead you make. (apologies to Lennon/McCartney)

John Jantsch is a marketing and digital technology coach and author of Duct Tape Marketing.