For about a year, every time I turn on the TV, I hear the same old, same old. The economy is doing terrible, businesses are failing, workers are being laid off. Recent articles have even talked about how hairdressers are suffering in this economy.
However, a recent This American Life confirmed what I already have been seeing in private practice – the economy doesn’t mean that small businesses, or even large businesses, are destined to fail, just that success may not be handed to the small business owner on a silver platter. For instance, this story about ice cream makers talks about how their product is in demand. Another story talks about how small businesses fared better this Christmas than they had thought they would.
So how can you help ensure that your new (or already existing) small business succeeds in this climate? Marketing is necessary in a bad economy to get clients in the door. Once you get clients in the door, providing good customer service, such as getting to know your clients and your products, helps keep them as clients. As always, it is important to have contracts with your clients clearly defining the services you are providing and your refund policy.
Should you have any questions if your small business is ready to stand up legally in this recession, please contact me at Elizabeth.Lewis@eclewis.com or 720-258-6647.