The Last Ones Standing

Difficult economic times present challenges for us as business owners. We’ve experienced the dramatic downturn of the economy resulting in lower home values, higher unemployment, a credit crisis, and our sales volume lower than a year ago. How can our business be among The Last Ones Standing?

As the owner of a local Signarama, I’m sensitive to sign company closures. I’ve seen two local sign companies close, and one local Signarama sell. In our center, two businesses have locked their doors. While I haven’t seen statistics, the empirical data suggests that many more businesses are closing than opening. Restaurants, real estate offices, retail businesses, sign shops, and other service related businesses are falling fast and often. How many in your industry have fallen?

How many of us will be among the Last Ones Standing? As a sign company, we field several calls a week for quotes to remove storefront signs. Recently, we’ve removed almost as many storefront signs as we’ve installed. I feel for those businesses that have closed because of the economic downturn. They didn’t close because of poor business decisions. They closed because they couldn’t identify and bring in enough customers to sustain them during these difficult economic times. They were not among the Last Ones Standing.

What separates those that have closed from those of us still standing? It’s not that they didn’t scratch and claw for the business as we do. In my opinion, marketing is the big difference. Marketing in today’s economic climate won’t create the results of two years ago. However, continuing your marketing efforts today will hopefully bring in enough business to keep the lights on, your employees paid, and perhaps put a little in your pocket. A word to the wise here is to consider what’s best for your customer’s clients and market from that perspective. As I say, “I don’t sell signs; I sell what signs can bring to your business.” Think and act on behalf of your customer’s customer and you may be among the Last Ones Standing.

As business owners, we also need to focus on the basics by continuing to plan for success. We need to MARKET our businesses as we did when we opened. Send out press releases announcing a new product or sale. Do it often.

Join a networking group to get yourself and your business aligned with professionals wanting to help others grow. By helping others you will grow new relationships. By growing relationships, you will grow your business. Working with like-minded professionals wanting to grow their business will give you an opportunity to help them with referrals. This is always an adrenaline boost for me. I firmly believe that what goes around comes around. Remember, “Givers Gain.”

It just so happens I’m a member of the BNI Early Bird All Stars. We meet at Mimi’s Café at Alma School and Highway 60, in Mesa, AZ every Tuesday at 7:30 AM. There are approximately 22 hard-working professionals in our great group. We’re always looking for new members who want to contribute and see the value of networking with a group of trusted professionals. Call me if you’re interested, I’ll invite you to a meeting as my guest.

Lastly, you need to add as much allowable signage in your business to spread the word to as many prospects as possible. You need to get in front of as many potential customers as possible making them aware of who you are and what you’re offering.

Consider vehicle graphics and lettering. Your car is out there 24 hours a day. Upgrade your window lettering using brighter colors or larger print. You need to get noticed! Add point of purchase (POP) displays digital signage and posters inside your retail businesses. It’s proven to increase impulse and incremental sales.

Keep marketing and you will be among the Last Ones Standing.

More to come,

Joe