What a Business Can Do Now
Get to know YOUR elected officials. Keep lines of communication open and let them know that low taxes and minimal regulation is the key to the survival of business. You can find contact information for all your local elected officials at www.mobilechamber.com/electedofficials.asp. 

Look to state and local agencies for potential payment programs, incentives or loans that may benefit the growth or expansion of your company.

Watch for changes in insurance laws that may help save you or your employee money on premiums. For example, effective for the 2009 tax year, Alabama business owners with fewer than 25 employees can deduct 150 percent of the amount they pay for employee health insurance premiums from their state income taxes. The plan also allows employees of small businesses earning $50,000 or less annually to deduct 150 percent of what they pay for health insurance from state income taxes.

Revisit your business plan and revise it if necessary, or re-establish quantifiable objectives.

Focus on what’s made you prosperous and try to add value to your product or service.

Meet with vendors to anticipate any cost increases and attempt to re-negotiate contracts.

Meet with your banker to find ways to reduce loan carrying costs, or discuss if one of the new or revised SBA loan programs could help your business through this rough period.

Do everything you can to keep your current customers.

Communicate with your customers honestly and proactively regarding any price increases you must make.

Review job duties and make better use of employees. Hold everyone accountable.

Don’t lose focus on must-do’s.

Control expenses – review and determine if every outlay of money is necessary, and if so, how you can reduce that expense.

Replace manipulative selling with assistance or helpful selling.

Take advantage of Section 179 Expense Deduction (now up to a $250,000 deduction for qualified equipment purchase).

Don’t let the constant negative media reports affect your decision making. Stay focused. Stay positive. Find the opportunity in this rough period.

Marketing Tips

Talk to organizations - Professional organizations like Kiwanis and Rotary are always looking for speakers for their weekly or monthly meetings. See if there is an organization that fits your company the best and pitch them why you can speak on this subject that would be beneficial for its members.

Brainstorm ideas with several people-sometimes the best ideas come from those who don’t even work with you. Brainstorm with friends, family or other marketing professionals.

Team up with a bigger organization on an event - The Chamber, for example, teams up with several organizations and companies on events/seminars. We help promote your company every time we send out an all-member email, e-newsletter, etc.

Team up with a charity - look for one that may hit your demographic. What a great way to reach your audience and be good citizens at the same time.

Add some marketing on your invoice-Nobody likes to get an invoice so why not add a discount on it or some other promotional item.

Submit a story for a corporate newsletter-Some companies are looking for experts and tips in their monthly newsletter that would benefit their employees.

Offer a discount on the Chamber’s member 2 member discount page.

Offer a trade - You would love to sponsor an event or seminar but can’t afford the out of pocket expense, then offer to trade your meeting space or services.

Viral marketing - It’s cheap and easy for people to forward an email. Encourage people to send it on.

Write a Letter to the Editor/Commentary - Easy way to get your name out there especially if you are an expert on a hot topic.

Take advantage of the social section of the paper if you have a reception, fundraiser, etc. You send in the pictures and the copy. What a great way to show off your top management or volunteers.

Make use of blogs - if you’re not comfortable starting one then use the resources of the local blogs to send information. They have a following and it could get picked up by someone else and so on.

Start a twitter account-It’s amazing how many people want to friend you. Plus, it’s your forum so you can post anything about your company. Just don’t make it all about your business. Have some fun with it.

Get on the Social Media Bandwagon - start a LinkedIn page and/or Facebook fan page. It’s all about marketing your company/brand and moving your company’s name up the search engine optimization (SEO).

Be an expert - What are the hot topics in the news right now? Economy, financial, banking, housing, etc. Let the media know you’re an expert on X and would be available to discuss it for an article.

Pitch a top 10 list - Reporters are always looking for stories especially during the holidays. If you’re an expert, for example, on child safety, pitch a Top 10 list of what not to do during the Fourth of July.

Negotiate advertising - You are in the driver seat because the media needs business. There was a time where you couldn’t buy an ad on tv for just a day, but now you can.

Hire a freelancer-Can’t afford someone to do the marketing or public relations for you, then hire a freelancer. You don’t have to pay benefits and they charge by the hour.

Can’t afford to hire a freelancer? We’ve got some great colleges in our region. Contact the schools to see if you can get an intern who would love the experience to put on their resume.

Smart Networking

Start with a plan. Identify what type of businesses or industry best serves as a funnel for customers to your business.

Don't try to meet everyone in the room. Pick three people in the business types or industries that you’ve identified and meet them. It’s more effective in the long run to connect with one or two people that can help you gain access to kinds of customers that you want, than try to meet everyone at an event. That’s like throwing spaghetti on the wall – what will stick? Making a few qualified contacts is much better than collecting 50 business cards.

Listen first. You will only learn if this contact is a potential ally in your business building effort if you find out who they are, what they do, who their customers are, etc. Then you may determine if it’s worth pursuing a deeper business relationship.

Use your current customers to get new ones. People who are satisfied with your product and service are the best kind of advertising you'll ever find. Always ask for referrals.

When attending network events - arrive early. This is when the best networking takes place.

Act as if you are the host. Welcome people you don’t know and strike up a conversation to discover any common business interests.

Wear a name tag with your name and business name.

Ask permission. If you want to follow up with someone you just met, ask them if it would be all right if you contacted them to continue your discussion.

After leaving your new acquaintance make notes on the business cards to help you with your follow up. It’s more polite to focus on the discussion while face to face.

Don’t stalk – It’s about meeting the right people, not the most people.

It’s about relationships. People do business with people they like and trust.