Up Your Game When the Economy’s Down

As a small business owner, you will probably lose some business during the downturn, despite your best efforts, as client companies cut their budgets, shift strategy, or, sometimes, go away altogether.

Bernard Nneji, president of Sigma Works Group, a process-improvement agency, suggests a variety of reasons clients and investors say they have lost interest in a small business: the client contact has changed and decides to “fire” the business; budgets and timelines are no longer working for the client; the small business’ strategies and execution of strategies cease to be in line with the client’s mission or the client has outgrown the small business and needs some bigger, fresher ideas. Ultimately, losing clients or investors most often comes down to a basic relationship-building problem –business owners’ inability to identify their clients’ and investors’ real needs from the beginning and a failure to satisfy them. [Read more]

--Posted by Julia Rogers, RecessionWire.com

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