Five Strategies in a Challenging Market

Work life would be good if it took only five actions to get a business-building reaction in today's economy.

But I applaud Principal Financial Group for its latest teleclass for business owners, "Marketing Your Business: Five Strategies to Position Your Company in a Challenging Market." The transcript should be available online in a week (visit "For Business" and "Teleclasses for Business Owners" under the Education Tab).

Carolyn Sawyer, Tom Sawyer Company, shared the following: 1. Stay Connected (use high tech tools, join groups, attend conferences to connect and stay top of mind with people); 2. Create an Online Presence (your Website is your storefront, keep it fresh, blog to communicate and share company news); 3. Maintain Flexibility and Creativity (get in front of people wth e-newsletters and awards—whatever has value—and do it simultaneously to maximize at all levels, be fluid and alert and adjust); 4.Develop Partnerships (with large companies or bring small companies together to increase one's capacity to serve); and 5. Leverage Internal Investments (to keep your talented folks, reorganize teams and retrain them for a more active area of business).

Carolyn give me some good reminders:

• Do the right thing for your business, not just the hot thing.
• Ask yourself, What is it my customers ARE willing to buy?
• Marketing is critical for visibility, but balance it with being healthy and happy. Get your sleep. The strong survive.
• Find the right fit. An opportunity that is really FOR YOU is for YOU. It's not a bad thing to say NO.

When asked what was her favorite marketing tool, Carolyn replied: "A good reception. It's what I do well. I make connections and build relationships." She told of attending a reception at the White House, visiting with someone she'd known through a volunteer opportunity, and learning about a contract (the gentleman called it just a small government contract) that became the largest contract her company had to date.

One just never knows what action will get the reaction that brings in the next energizing piece of business. Keep working all those marketing strategies.