Are you focusing on the right productivity formula?
You already know just how important the right productivity formula is to the overall long term success of your cash strapped small business,right?
Especially during the really lean times of a prolonged nagging recession. The entire chain reaction is brutally.
Because as your valued (and ever) dwindling valued customer base has no choice but to pull back on both their necessary and discretionary spending, this in turns affects your ability to:
A.) Consistently meet payroll.(Ask any of your valued employees and or associates, just how vitally important that one is!)
B.) Pay your supportive vendors on time (and or) expand your existing product and or services.
C.) Meet your current and future short and long term banking obligations.
Why Focusing On The Right Productivity Formula Is Critical!
(To Your Long Term Success!)
Without getting too far into it here; you already realize how any of the three fore mentioned scenarios can and will affect the overall cohesive flow of your already (way too) cash starved small business,right?
Not to mention the fact, that if your employees aren’t being paid on time, what type of attitude do you think they’ll bring to their job?
And what type of long term affect will that have on your valued customer base, both in the long and short term?
Exactly. And while you’re factoring in these other considerations, consider this major one as well.
If things get any tighter for you, during or after a recession, how receptive do you think (your already) way too conservative banker will be, when it comes to expanding your existing credit line, especially if you’ve previously had problems meeting your current obligations?
So you see my friend, you’d better be really careful, where you place your energy. Don’t you agree?
While Focusing On The Right Productivity Formula Will Not Solve All Of Your Major Problems! (It Will Relieve A Ton Of Them!)
One of the ways you can really create a viable small business (over time) of course, is by creating and implementing predictable systems.
Because then you’ll start to experience the results of a proven productivity formula.
Case in point. Suppose you really focus your energies on four simple (yet) oh so powerful tasks. And they are.
1.) Focus on re-activating old ex customers and or clients. Remember, they already know and trust you, or at least they did at one point, that’s why they originally became customers.
2.) Start developing marketing processes that cause your best customers and clients to spend 10-40% more, each time they buy from you.
3.) Getting them to buy more often. Meaning- if they typically come in (or visit) your website four times per month, drive them back to your WordPress blog more often.
Or get them back to your store three times per week, as opposed to just once per week etc..
4.) And finally..Systematically getting your best customers and clients to refer more new first time customers to your small business and or service.
Small incremental improvements in just these major four areas, and your long term profitability of your small business and or service, will greatly improve asap.
For ex: just a ten percent incremental improvement in these four major areas, and guest what? You’ve just improved your overall productivity by a whopping 40%!
Recession or not entrepreneur, that’s getting it done. Don’t you agree? So make it your business to focus on the right long term productivity formula.
As always, if you got any value out of this post, please Digg or tweet this. Thanks!
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