Could you ever imagine that either Circuit City or The Sharper Image could go out of business? They had a great business plan, growth, and staying power, and yet they got caught on their back foot when the economic crisis hit. Now banks are cowering and licking their wounds, while huge companies do damage control – if not hitting the mat and being counted out.
As a small business owner, it’s scary. These great companies are reeling all around you, what does that say for the future of your company? Take a look around. People are still going to work. Products and services are still being purchased. Business is still being done. It could be said that the corporations hit hardest by the credit crunch were damaged the most because of their own hubris. But you and your business didn’t have hubris, did it?
What this means is that opportunity – that shy, golden-haired power-broker – is out and about, knocking on doors. To quote Diane Helbig, "Folks, this is really the time for small business to seize the day and shine!" Think about it, people still want to buy the products and services that big companies can’t, or are pulling back from producing. Where are they going to go if they can’t go to Circuit City? Okay, they would go to Best Buy, bad example… maybe. What if you had an electronics store between those two megaliths? Is there any reason why you couldn’t snag some former Circuit City customers?
Now is the time to forge, enhance, and solidify relationships with customers disgruntled with the big boys. Talk with them. Find out their wants and needs, then make them happen. Your customers will appreciate you helping them in these tough times and remember you when things get better.
