As a small business owner, you actually have a lot of flexibility. You can pivot what you do and make offers that big companies can’t. Especially during tough times like these, you can find opportunities that may not have existed before. As today’s guest is going to tell you, there’s a gift that lies in scarcity.
It’s important to keep priorities in mind when running a small business. Especially when times are tough, it’s a good idea to ask yourself what your goals are. By looking at what gives you the best return on investment, you can prioritize the most important parts of your business.
Even if a client doesn’t want to move forward on a project quite yet, there is probably still something that you can do for them. Look back at past projects and share your ideas with them. Maintaining helpful lines of communication now will pay off later when the situation improves.
No matter how amazing your work is, if you don’t market it, you won’t sell it. Marketing, when done with integrity, is not a sleazy thing. You have something to offer that other people need. When you reach out there, you will find that there is more abundance than you may have thought.
About Prof Kelly Goldsmith
Professor Kelly Goldsmith is an award-winning, Yale-educated behavioral scientist who also appeared on Survivor Africa. She examines consumers’ responses to uncertainty and scarcity, uncovering, and explaining seemingly paradoxical effects.
Looking to Scarcity for Good Ideas
It’s common to question what you’re doing in business during tough times. Kelly recognizes that it is actually during times like these that some of the best ideas are born. Maybe you’ve been sitting on a particularly innovative idea but haven’t acted on it yet. It’s also a time to reassess how you’re marketing your services.
Getting Cozy with Marketing
Even if you have something great to offer, you need to market it appropriately. Marketing to everyone will only lead to disappointment. Even though it may feel like you’re excluding potential customers, you need to find your niche. This will differentiate yourself from the competition and also lead to more referrals at the same time.
Do you have a business idea that you haven’t tried yet? Tell me what’s holding you back in the comments below!