No, not the end of the world, silly . . . I’m talking about the end of the recession. Recently, I wrote about “Business Looking up in 2011” which was based on a survey of over 5,000 businesspeople and entrepreneurs at www.BNIBusinessIndex.com. The survey was a global survey that was taken by people from every populated continent in the world.
The survey found that almost 68% of the respondents say that business is growing or growing dramatically compared to this time a year ago. What the survey doesn’t explain is why those businesses are growing.
I have a few thoughts, based on my observations recently, which may shed some light on this and also provide insight into how you can grow your business:
- Innovation in adversity is a key factor. I know a commercial real estate broker in Southern California who said that he had his best year ever in 2010 (and he’s been in business for 26 years). He cited the fact that he did dozens and dozens of one-to-ones during the year to find ways to work together with other businesses. His opening approach was to help them. However, at the same time, it built his business in the process. This is counter-intuitive to most commercial real estate people he told me.
- It all starts with attitude. A product sales company in the UK was about to do layoffs to meet payroll. One of the sales reps wrote on the whiteboard – “we refuse to participate in the recession.” Everyone in the office signed it. They ended up with their best month all year and no one was laid off!
- Look for new or emerging opportunities. I met a residential Real Estate agent on the East Coast of the U.S. who told me he had his best year ever last year. He said he went to investors he’s worked with in the past and told them that “real estate is on sale!” He said to them, “don’t be one of those people who come to me in a few years and say… “I was crazy not to look at these opportunities. I should have bought back in 2010!” He told me this strategy has helped him sell more than any year in recent memory.
- Be creative with your offers. I recently met a business coach in the mid-west of the U.S. who created a guarantee for his coaching. He said, if you follow my weekly coaching program and you don’t raise your income to at least six figures, I’ll continue to coach you for free until you do. He said it has dramatically increased his sales and has not had to provide any clients with free coaching yet.
If you have any insights / observations about the current upward slope of business or outside-the-box tips on how to boost business despite a challenging economy, please leave a comment and share your thoughts.