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You are the owner of a local business and you see times are tough what do you do?

It almost makes sense to spend less on marketing until times get better. This might sound right but is it really intelligent to not market in tough times?

Let’s say you save your money what good is money that you do not use as tool after all what is money but a tool?

You can keep money or you can invest money to accomplish an objective you can never do both.

1. Money can free up your time to focus on the part of your business that gets the best results.
2. Money can multiply your production.
3. Money can protect your assets.
4. Money can hire more man power.
5. Money can expand your territory.
6. Money can help you survive during lean times.

What’s the one thing that every business owner should focus on?

You got it right if you thought …SALES!

Sales empowers business without sales what would your business do to survive? Nothing else would matter if you did things right and had no sales you would eventually shut down shop.

So during hard times the winners it goes without question focus their time and effort on sales. I was once told by a millionaire that to generate more profits in his business and rattle up his competitors he would cut prices almost to the bone and spend any and all profits promoting his sales.

I was shocked if he ends up only recouping his war chest what did he really acquire over time?

During his “sales strategy he would bring in new customers and a percentage would stick around even when prices gradually went back to the “norm” and his market share would replenish and grow his profits and war chest .
Online when we lose by selling to new customers below profit we make up and profit by up-selling to some and then depending on the life time value of the client making more ongoing than the first sale ever could generate.
Offline many un-savvy business owners do not think of the life time value of their clients so the make little sacrifice when it comes to create new clients and thus new sales.

Keep in mind exceptional goods and services are no longer adequate in assuring your business will flourish. You need to discover and master powerful marketing techniques. You need to advertise and let your business be known by many people. In these times, being online is a key to business growth.

Of course being on the web without getting traffic by ranking higher in the search engines is akin to getting no customers coming into your shop the potential for sales is greatly reduced. Wise use of finance would then be advertising, promotion and marketing of your website and your main business.