The key to business survival in tough times

Many small and home-based business owners are struggling to survive when the economic environment around them is gloomy. Not only does this put their businesses under pressure but it will soon start to threaten their personal lives as well, leading to frustration, fear and despair.

Under such circumstances it is necessary to do things differently in order to stay afloat and get ahead. Doing more of the same will not solve the problems, and repeating past behaviour is a recipe for disaster.

The key to survival and prosperity is to acknowledge that business is about solving problems for each other.

The more we focus on solving problems for our prospects and customers, the more likely we are to stay in business.

The more we focus on pushing our preferred product or service at our prospects, regardless of the problems they are experiencing, the less likely we are to survive the tough times.

So, what are the typical problems you solve for your customers?

If you are an IT company, perhaps you solve problems such as:

• A small company having been attacked by a hacker
• A businessman wanting to purchase a new computer but no idea what would work best
• A larger company needing to stop internet abuse by its employees

If you are an auto service centre, perhaps you solve these problems:

• A motorist needing to extend the lifespan of their vehicle due to financial problems
• An elderly lady struggling to start her car in the morning
• A father going on holiday with the family but not sure the car is safe

If you are a financial adviser, perhaps you assist in these situations:

• A middle aged man not having sufficient retirement funds
• A family needing to cut back on their medical aid expenses
• A single mother considering a high risk investment for a quick return

These problems and your sincere interest in providing a solution to them, provides a stunning opportunity for you to get ahead. Focus your marketing on these problems and use your expertise in providing solutions to them. This will set you apart from your competitors that are all too happy to keep dropping meaningless flyers in people’s post boxes.

Here’s how to do it:

• Identify the typical problems you solve for your customers
• Prepare some useful tips that your prospects and customers can benefit from, and that can potentially help them either solve their own problem or help them source the best possible solution
• Start sharing these tips with prospects and customers via email, social media, your website and potentially even your printed advertising material
• Keep doing it!

The reason this approach works is that you offer value to your prospects, you show you care about them and their problems, you demonstrate true customer service in action, you make it clear that you know what you’re talking about, and most importantly: You show you can be trusted!

Trust is a very powerful factor in building meaningful and sustainable relationships with your existing customers and your prospects alike. These are the relationships that will see you through the tough times.