Photo courtesy of The Profitable Horseman
Your parents, early mentors and former bosses probably influenced your position on cutting expenses in the home and in business more than anyone. It’s certainly the case for me.
As a result, when expressions like belt tightening, expense slashing and austerity are tossed about in headlines and by TV news readers, you think about the buckets of advice thrown at and on you in your wonder years.
As business owners and managers, our gut reaction is to focus on actions like turning lights off, saving copy paper and rationing paper clips. We go into a minimalist mind set pondering the question: What else can I cut back on to maintain positive cash flow?
I want to shout CAUTION if you think slashing advertising and marketing expenses as you retreat and hunker down to reduce operating expenses is good strategy. Because if you do, you’re wrong. It may have been okay in Grandpa’s days, but today it’s a false saving.
Why?
Because the economy will improve.
And when it does, don’t you want to be the first person your clients and prospects think of when it comes to your niche in the horse industry?
The cliché out of sight is out of mind holds true when it comes to your sphere of influence-the people with whom you have worked so hard to build business relationships.
An ongoing marketing program is essential for a business to survive this downturn and thrive when things improve. If you decide to scale back your business operations, please don’t shrink your presence in your market area.
If you do, your clients and prospects will begin to lose touch with you and what you’re doing. They may wonder if you are going out of business or are no longer the go to person in your specialty.
Use the telephone, e-mail and your website to maintain fresh dialogue. Maintain your post card programs, press releases, newsletters, article writing, public speaking and free clinics or demonstrations. Your marketing program doesn’t need to include a huge advertising allowance, you just need to keep telling your story to everyone who will listen.
Be easy to find in both good and bad economies. Don’t worry about a little energy cost as you keep the spot light on you and your business, because the show will go on.
Doug Emerson helps professional horsemen struggling with the business half of the horse business.
Visit his website: www.ProfitableHorseman.com for more articles like this one and to subscribe to his free electronic newsletter about being profitable in the horse business.
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