As business owners and/or entrepreneurs, we are constantly searching for new clients to purchase our goods and services, working to keep our existing customers happy with our products, and always desirous of increasing our sales in general, whether with existing or new markets.
In these difficult economic times we find challenges with decreased budgets, businesses spending less money with their vendors, markets drying up and a general hesitation to spend money during an unstable and unpredictable environment.
This kind of marketplace spells doom to many business enterprises. Many others find themselves hanging on by a thread, waiting for some good economic news. This is a period of increased anxiety for small businesses who depend on “crumbs from the table.” They are finding that the marketplace is “on a diet” and there is a massive “belt tightening” going on with major corporations. Businesses are finding themselves providing necessary services for themselves rather than buying from those who normally provide those services for them. “We’re sorry we couldn’t use you. We took care of this ourselves.” Others have quit using these services altogether, learning how to exist on less in a tough business climate.
My next blog will begin to address the need for change in the marketplace.