A business needs a robust system of operation to keep it through all the thick and thins that are sometimes unavoidable. For every business, it is important, especially during a recessionary time, to operate with some cost cutting measures. And if things are far away from recovery, it becomes imperative to have a safety shield to pull the business through tough times. In such a time, it is important to reduce cost, increase profits and promote the business effectively. Mentioned below are some great tips that can help you keep your business in business.
1. Seek Referrals
Referrals can prove to be a boon for your business. When it comes to buying, customers often go by words of mouth. Thus a business can not really ask for more if it has some other reputed business referring to it. Also, you can ask your customers for referrals and offer them various types of incentives in return. You can even start a promotion and provide referral cards to customers. Again, this is an effective strategy that does not even cost much. ... Read More