Economists and the media have been debating whether we are in a true recession or not for some time. During these difficult times, I have made every effort to still expand and develop my business as best I could despite the "doom and gloom".
Just recently I have really started to feel the effects of the economic downturn. Many retailers are closing their shops, or just barely hanging on. I talked to one of my customers the other day to ask how the cards have been selling. She said "...great, if we can get more than 1 or 2 people to walk through the door each day!" At this time, many retailers are also not willing to take a chance on a new product let alone new company. What an interesting time to launch a business to say the least!
The economy will always be full of ups and downs but the question is how does a small business continue to weather the storm? It may be time to perform a business "check up". For me the goal is to take a good look at my marketing plan and evaluate whats working and what isn't. It's time for me to evaluate if the magazine ads really are pulling in traffic, or if I'm fooling myself. It's also time to start "cutting the fat" wherever I can. Sure I would really love to have those aromatherapy stress balls with my logo on it, but do I really need it right now?? No, not really.
I am finding the economic downturn to be a great opportunity to evaluate my current business goals and to set a solid foundation for growth. The most important thing is to remain positive.
We can only rise up from this point, and the best is yet to come!!
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1 comment:
Congratulations on your eye-catching cards!
Just bought half a dozen at the Borders store in downtown Silver Spring, Maryland. I'm busy sending them to friends around the country.
Good luck in increasing your share of the greetings card market!
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