why is business so slow ?????

[Dave A]

I actually tried new approach last week and I got quiet a good response
I sat in my office and started cold calling service stations... I really did get some good results.

Well targetted direct marketing does work.
But for it to keep working, you've got to keep doing it

[designmine]

We must not forget that it is the recession! The element that is going to determine which businesses grow and which business whither away is the extent of their innovation strategy! In this struggling economy, innovation is where you make it or break it. You also should not forget that smart marketing is important. Something as small as having a professional looking website is crucial in today's day and age!

[shani]

A good product/service without effective marketing is like a dead fish drifting down stream.

With reference to another thread about marketing, the product is more important, BUT;
Once you have the product, you can never sit back and just wait for the business to come in, you have to work at it all the time.

People are bombarded by marketing and all kinds of selling techniques every day. So make your product/service stand out in all this advertising noise. Join a business forum, do networking and apply the good advice given by Rory and Rudy. When the budget allows, you may place ads in the media, but while you are still on a tight budget, best is to start with existing customers.

I totally agree with Blurock but effective marketing is not easy to come up.

[Blurock]

We must not forget that it is the recession!

Recession? What recession? When things go smoothly, nothing happens. Everyone is content with the status quo. In times of turmoil, people start using their brains and that is when opportunities are revealed.

[BusNavig8]

Hey Blurock we are finally getting somewhere on the product/service and marketing debate huh?

[BusNavig8]

But I have found in my business that business is slower. The biggest problem our clients face is not getting paid and having to wait much longer to be paid. I really think that it is different this year. Some businesses are booming and others in lag

[Blurock]

Getting paid in time, starts with sales.
1. Do not over commit a customer that can not afford it. The granting of credit is a fine art.
2. Check references and weed out the bad payers.
3. See that paper work is in order so that you do not have a problem proving the debt, should you end up in court.
4. Follow up to see that customer is happy with product so that there is no excuse at month end. (people tend to wait until payment is due before complaining about the product).
4. Follow up on promises or commitments. Call or send reminders just before month end and get a commitment.
5. Be strict on late payers. Suspend an account when the credit limit has been reached or payment is overdue. Sales people may not agree, but extending credit to a delinquent customer can sink your business. How many sales do you have to make to recover one bad debt?

Being strict, but fair will send out a message that yours is a no nonsense business. Put systems in place and stick to the rules. Once you break your own rules, you are on thin ice!

[Dave A]

The biggest problem our clients face is not getting paid and having to wait much longer to be paid. I really think that it is different this year.

If I look at my contract clients, there's clear signs that cashflow in the marketplace has been a bit tighter than usual. End of March was seriously not funny.

It does seem to be easing up a bit looking at April and May though.