Hey all,

It's been some time since I visited and/or posted, but sure could use some help with experience in the business world.

So the economy sucks. Yep, sure does. Businesses are up and down. Yep, right here. Accounts receiveable is having a hard time collecting. Oh you betcha.

Knowing all of that and being in business for over 4 years now, how do any of you seasoned veterans get over that freaked out point? In other words, when business gets slow (and I mean scary slow) how do you handle it?

I for one freak out and get scared to death. I ask myself questions like "Am I finally done?" and "Is the end near?" and still "Is it worth the headaches and heart breaks?"

Do you just get to that point where you say "Eh, it will work itself out and we'll be fine" or do you bust your hind quarter on more sales, marketing, networking, etc.

Just looking for some similar stories and/or feedback from all of you guru's out there!

First, let me say I still have a day job, my business makes only a couple of hundred a month of profit and I'm looking to start a second much higher grossing business in January.  So take this with a grain of salt.

I think one of the keys is to build that nest egg as much as possible when possible.  We are definitely in a rough patch right now.  I kind of think this is the biggest area of opportunity.  You have several people giving up because of lower returns right now. Plus, if you can be profitable right now, imagine what you can do in the future.  Think 2006.

Make use of your time as much as possible.  If you only have one job, and it looks like you build websites, take the opposite approach.  Don't wait for the people to come to you.  If you spend only 15 hours a week now building sites for others, why not spend 25 hours a week building sites and offering them to people.  Think OSCommerce and dropshipping or possibly some kind of clickbank sites. It may not be your specialty and you may be lost, but it could be good experience and turn into something great for you.  There are millions of people out there looking for cheap profitable websites.  Who knows, if you get a good dropshipping or wholesale site going, you may stumble on to something very profitable for you.  Good luck

 

There is always another opportunity. I just think the game is a little harder now. However, I believe that the rewards are greater for people who stay in the game.

-------------------------

iMarketing Ireland- My site for helping entrepreneurs make more sales online.

Hello there,

I also own a design company. I have noticed a little bit of a slow down here, Im in Texas near Houston actually. In these times, I just do a lot of networking and marketing. I am involved with alot of the chambers in the area, we have about 5 in a 50 mile radius. I am a member of several networking groups in the area, I do lots of mixers, ribbon cuttings and luncheons. I also do a lot of online social networking, but most of my work is gotten by word of mouth and face to face networking. Good luck and Im sure things will turn around, you have a great looking website and your work is good, just let everyone know you are here!

-------------------------

Best Web Hosting Plans | Best Hosting Services | Best Hosting Services in India | Best Indian web Hosting

It's true that times are tough right now.  When things slow down, what I do is to focus on networking and marketing.  Not so much on costly marketing but more of the time-consuming, "free" marketing activities that you never have the time to do during busy times.  Make use of all the social media out there and make your presence felt.

--------

Kate

MedifastHealth.org

When we work with clients who feel "stuck" as you described, we focus on 2 main areas -

1)  Are you still focused on the right target?  If your target market purchase behavior has changed as a result of changing market conditions - it may be time to focus on a new target.

2)  Have you chosen the correct strategies to drive your business and are you staying true to your strategic choices?  Strategy is choosing what you will do, and also what you will not do.  In tough times, small business owners tend to pursue every opportunity and get fragmented.  A better approach is to thoughtfully select your strategies (no more than 3-5) and then pursue them with vigor.

I hope that helps!

-------------------------

Michelle Tree
www.whygowest.com

Download our FREE eBook
The Top 5 Ways to Fail-Proof Your Business.

Well I guess we all have a choice whether we want to continue with our current misery or not. Its just a matter of finding the righ cracks for yourself... Just do not be afraid to take the risk.... 

You mean you can get past "that freaked out feeling"?!  (loved the title so I had to come check it out!~)

We're doing better all the time (selling more tacos than ever) but I don't think I've ever lost that "are you frickin' nuts" feeling of doing this business ... not sure I'd want to as that nervous energy has kept me pounding away regardless of any obvious or immediate results.

One thing is "don't panic" ... so much of "success" is outside of your direct control and you really just need to have faith in your dreams ... accept it will be or it will not be; and then just have a blast doing/working your business knowing at least you've done everything within your means and ability to do (or not ... some don't).

Of course the work harder, smarter, sell, network, etc. are things you can do (and really should regardless of any global economics) ... but having that freaked out feeling should be embraced as it's an entrepreneur's one true love and proof of having it on the line (you can replace a paycheck but when a dream dies it takes your soul!~)

-------------------------

Chris Miller, a simple taco maker:
The Tiger Taco home in the U.S.A.
Tiger Tacos in Australia
Tiger Tacos in the United Kingdom

I can say I've lucked out a bit with the economic struggles. Instead of losing a lot of business I gained more. I offer many different services that can really pull in a lot of clients. I've had to hire employees even things got so crazy around here.

I guess it does solely depend on what you offer, the price and how many people really want what you offer.

Boy, have I been where you are. It's tough to keep motivated, focused, and energetic when you are having to deal with all of the negative news, naysayers, bills, doubt, fear, etc. I hit this point in my business a couple years ago and actually turned to saying daily affirmations. It helped me "re-program" my brain to be positive, enthusiastic, and focused.

I'm not talking about "law of attraction" or any magic hocus-pocus. It just helped me fill my head with more positive, encouraging thoughts to battle the negative things coming in from outside. I actually wrote an e-book that describes how to do the same thing for yourself, specifically for entrepreneurs. In 2 minutes a day, it will definitely help you stay positive AND productive despite the negativity around you. The e-book is listed in my signature below.