There is a vast difference in the operational style & strategy of a large enterprise or a corporate vis-a-vis a small scale business set-up. The recession has made the situation so that every single penny is of supreme importance with these small scale businesses. Thus in this light a budget sensitive strategy can really help in achieving entrepreneurial success and most importantly sustainability.
Thus, follow these ideas to maintain business proficiency:
• Act intelligent
Choose your expenditure intelligently. Devise a strategy, and spend accordingly. This will help you keep a tab on where the moolah is going! Going frugal for short while is better than going bankrupt suddenly.
Choose your expenditure intelligently. Devise a strategy, and spend accordingly. This will help you keep a tab on where the moolah is going! Going frugal for short while is better than going bankrupt suddenly.
• Save the publicity on the big banner
Big businesses have already made it big! They therefore, have separate budget set for investing on branding and brand visibility. For big businesses extra advertisement is directly proportional to additional sales. Small business will always thrive if they make a sound brand visibility plan and get heard and seen at the right places. Leave the rest of the money with the production team.
Big businesses have already made it big! They therefore, have separate budget set for investing on branding and brand visibility. For big businesses extra advertisement is directly proportional to additional sales. Small business will always thrive if they make a sound brand visibility plan and get heard and seen at the right places. Leave the rest of the money with the production team.
• Low Cost Alternatives can really be economising
Hang on to your money till the time you find a really promising alternative to invest your money in. If you found a really enthralling service for a high price, try creating an economising substitute for it, if possible.
Hang on to your money till the time you find a really promising alternative to invest your money in. If you found a really enthralling service for a high price, try creating an economising substitute for it, if possible.
• Alternatively, your own services & products should be pure brass
This is where money or an attempt to save it has no role to play. People will only purchase from you or become a regular client if the services, products and packages are utmost premium quality.
This is where money or an attempt to save it has no role to play. People will only purchase from you or become a regular client if the services, products and packages are utmost premium quality.
• Be everywhere on the internet
Be online at all the popular places and websites for excellent promotional occupancy. This will help you market yourself well without eating any extra money from your budget. Let your website be the virtual store, and your blog be the most significant critique for your brand. The rise in number of online shoppers will really help your brand attain top of the mind recall in most minds. Expand your reach to Twitter, Facebook, MySpace, Plaxo, Yelp and other popular sites to build a community that promotes in leading business evangelists.
Be online at all the popular places and websites for excellent promotional occupancy. This will help you market yourself well without eating any extra money from your budget. Let your website be the virtual store, and your blog be the most significant critique for your brand. The rise in number of online shoppers will really help your brand attain top of the mind recall in most minds. Expand your reach to Twitter, Facebook, MySpace, Plaxo, Yelp and other popular sites to build a community that promotes in leading business evangelists.
These are a few hints... Keep visiting this space for more hints, insights and clues next week.
