Tips on Taking Advantage of the Downturn

Ask Score is a feature that we are doing in conjuction with Crain’s Chicago Business.  This week’s  blog posting below.

Posted by Ann D. at 7/29/2009 6:45 AM CDT

We’ve invited SCORE Chicago, the small business coaching and counseling organization, to answer readers’ questions on all aspects of running a small business. Every Wednesday, we’ll publish SCORE Chicago’s advice on issues that matter to you.

If you have a question or problem that you’d like to run past SCORE Chicago’s counseling team, send an e-mail to adwyer@crain.com. Be sure to put “Ask SCORE” in the subject line.

This feature is fairly new, so allow us to pose a question that’s on everybody’s mind in this painful recession: “How can I take advantage of this downturn?” 

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Many SCORE counseling sessions revolve around helping our clients survive these difficult economic times. Jim Stoynoff, a SCORE member, has this advice.

Whatever you do, dont stop marketing. Make a special effort to explain to your customers why your product is important. Jim notes that your competitors may have stopped their marketing. Therefore, your message can come through more clearly and loudly.

Look at today as an opportunity to get in the door. With the cost pressures that your customers are facing, many of them are more open to change. Take advantage of the new openness.

Jim also suggests that you take the time to meet with your customers and vendors in person. Take the time to share strategies, and work to form a common bond.

Jim recently talked about this issue on SCORE Chicago’s YouTube channel; you’ll find a brief clip here.

The entire interview with Jim is available on SCORE Chicago’s CANTV 21 Channel on Blip.TV.

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SCORE is a 45-year-old, national, non-profit resource partner of SBA, staffed by former business owners and executives who offer free expert advice through counseling, consulting services and affordable workshops to entrepreneurs operating and starting small businesses. For more information, go to www.scorechicago.org.

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