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Emerge fitter and stronger from the downturn - part 1 of 1

Published 01/11/2009

If you just believed what the newspapers say or listened to the television news about the downturn we would certainly be a sorry state. In reality there are always winners and losers in a recession and we all have to work that extra bit harder to retain business and equally as important continue trying to create new opportunities. Here's some more top tips from Howard Butterfield of themagefile...

Stay motivated

Try and keep yourself motivated; this will keep your performance up and will also help keep the moral of colleagues and staff high. One thing is certain; you are far more likely to win business with a cheerful and positive attitude. It is sometimes helpful to keep yourself focused on longer term objectives and your corporate vision and try to keep the downturn in perspective.

Look after yourself and your team

This can be a stressful time - don't let it take a toll on your health. Exercise frequently, eat well and keep yourself fit for the fight. It will improve your mood and give you more energy. If you work with colleagues then exercising together is great for team building.

Look at all your sales channels

Particularly though, are you selling on-line? The businesses still making headway are those with on-line offerings, Next and John Lewis both make more money on-line than through their stores and the percentage of online spend continues to increase. If you have yet to engage the internet, then resolve to do it immediately. It is less important how or who you use to help and far more important that you decide to do it. The internet will also help with productivity - doing more with less is the order of the day.

Fix the finance

Improve your management accounts to be on top of trends. Network better with suppliers and customers; a key supplier getting into trouble can be as bad as a customer not paying, though thankfully most photographers have that side well under control. Spot the early signs of a business in trouble. Constantly juggling funds, struggling to pay the monthly PAYE or quarterly VAT, delaying payments to suppliers or sacrificing your own salary to the point where you may personally get into difficulties are all classic signs. The sooner the situation is dealt with the better and unless there really is the big contract around the corner the problem is unlikely be fixed with additional loans or injections of capital.

Continue to innovate

Keep excitement in your work. Try new things and invest in yourself and your craft, with time and ideas rather than money. This will give you a new story to give to your existing customers and perhaps something the competition does not have. Stay aware of the competition but avoid getting into any form of price war. Sell a better service; keep closer to your customers - sell and market harder and more inventively. Those that survive will invariably emerge stronger and fitter.

For more help and advice to get your work online with fully integrated e-commerce...plus other key benefits, take a look at the inside front cover cover or visit www.theimagefile.com/try where you can set up a no commitment trial account or call 0870 224 2454 to find out why more and more Society members use them.

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1st Published 01/11/2009
last update 09/12/2022 14:53:46

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