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| Capital Solutions: Productive Alternatives to Spending |
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Capital Solutions: Productive Alternatives to Spending
It's been a little over two months since the terror attacks of
9/11, and it still feels a little surreal. Even with the U.S.
forces doing as well as they are in Afghanistan, there is still a
sense of sadness and insecurity, and this has affected our
economy. Business is slow, and I believe that as American
businesspeople we have a duty to do everything we can to help
shore up the financial state of our country. With less business
creating lower incomes, however, it seems like a difficult to
impossible task. So how do we do it?
The key here is to get away from the idea of spending money as a
necessity to boost the economy. There are several things we can
do to stay in business and to help others stay in business
without spending capital we don't have.
First, trade goods and services. The barter system has worked
for centuries, and it can still work today. I'm sure that you
know several business people who offer something you need, and
who could probably use something you offer. Maybe you clean
carpets and you have a friend who runs a copy center. How about
offering to clean the carpets of your friend's shop in exchange
for a run of flyers advertising your business. Whatever you do,
there must be someone you know who could use your service, and
who just might offer a service you need.
Second, offer lower prices. Wait, hear me out! With business
down you may be thinking, "How can I lower prices if I don't have
any business?" Well, maybe those lower prices are just what you
need to bring in some customers. Use those flyers you bartered
for to advertise a 20% off recession special, and you may find
your phone ringing again. Someone who couldn't spend $100 can
maybe spend $80, and cheaper business is better than no business,
right?
Third, use your downtime to improve your operation. When we're
busy, it's really easy to let the day to day things fall by the
wayside. Little maintenance projects may be sitting on your
desk, half-finished, buried under invoices and trade papers. Dig
them out. Clean house and have your employees (if any) do the
same. Go through your desk and get rid of anything that isn't
pertinent. Catch up on customer correspondence. Write an article
or two to submit to business journals about your business.
Basically, make sure that your business is running at maximum
efficiency for that time when customers start calling again.
So you see, without spending much money, we can really start to
improve things. With a little faith and a little creativity, we
can make it through these troubled times.
About the Author Alvin Apple helps everyday people start businesses they will
enjoy. Then he teaches them how to succeed. Read all his helpful
strategies, including his latest article, "PUT ON A HAPPY FACE:
Confidence is the Key!" at http://AlvinApple.com. Reach Alvin at
801-328-9006 or alvin@drnunley.com.
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| Category
creativity in business and profits |
Author
David Gabbitas |
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