Entrepreneurial Expert and Office Live Small Business Blogger Rieva Lesonsky Provides Small-Business Owners With Tips to Weather the Economic Storm
Wednesday, September 24, 2008 9:02 AM
Symbols: MSFT

Low-cost and no-cost survival tactics require a 'business-as-usual mindset.'

REDMOND, Wash., Sept. 24 /PRNewswire-FirstCall/ -- As the economic climate gets stormier every day, many small-businesses owners are facing mounting pressures. During such uncertain times, entrepreneurs often choose to cut back, hunker down and ride it out. However, experts warn against exercising too much caution -- especially when it comes to marketing.

(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)

According to Rieva Lesonsky, former editor of Entrepreneur and blogger for Microsoft Office Live Small Business (http://smallbusiness.officelive.com), entrepreneurs can use this time to cut back in certain areas and strategically invest in other areas, such as marketing. 'It may seem counterintuitive, but increased marketing and sales activity can be an effective way to bolster your business and weather economic storms,' Lesonsky said. 'In fact, marketing is a key component to your small business' survival.'

So what should current and aspiring entrepreneurs do during these tough times? Lesonsky offers the following advice:

* Keep overhead low. Entrepreneurs should take a hard look at their expenses and scale back on nonessentials. Some big cost-cutting areas include business travel, labor and rent. For example: Entrepreneurs can try videoconferencing instead of traveling to a meeting; consider forgoing pricey office space and work from home instead; and re-examine their staffing plan to ensure they have the right amount of coverage for their current level of business, keeping overtime costs to a minimum.

* Make noise. In this economy, competitors are likely cutting back on marketing spending too. This provides an opportunity for entrepreneurs to get their marketing message out in a potentially less cluttered environment, and possibly at a better rate too. In addition to traditional forms of advertising, entrepreneurs can take advantage of low-cost digital marketing tactics, such as creating a blog, building an audience with Twitter, staying on top of their ratings through online review sites such as Yelp, and creating company pages on social networking sites such as Facebook and LinkedIn.

* Have a strong online presence. Increasingly, consumers are using the Web to find businesses of all sizes, so it's really crucial that small businesses be visible online in order to compete. Today, there are a number of low- or no-cost options to help entrepreneurs establish a professional Web presence without the expense of hiring a designer or Web master.


Next Page >>
More Options



Subscribe to Email Alerts rss feed or RSS feeds rss feed for articles from more than 300 contributors and press releases, SEC filings and full text news from thousands of sources.


 
Rate :  Rate this Commentary  


 Number of Comments (0) Post Comment
 
  
Good Rating(+1)    Bad Rating(-1)
No Data Found

 
Enter Symbol
Enter Search String
Bookmark This Article
Email Article

Send this article by email


Recipient's Name
Recipient's E-mail
Your Name
Your E-mail
Related Quotes

 
  Home | Login |Research | Earnings | Scans | Chat Rooms | Charts | Submit Article | Join Blog Network | Contributors | Subscribe to RSS

copryright 2008 all rights reserved