When Being Small is an Advantage in Tough Economic Times

While recessions are rarely good news for any business, they can present opportunities, especially for companies that can take the long view by focusing on the core business issues; driving shoppers to your business and converting them into customers.

In a recession, there is always some panic, and businesses withdraw from markets even if it is just downsizing. People who see those openings can capitalize on them. History shows that there are companies that have thrived in a downturn environment.

The niches that these opportunistic businesses occupy may be small, but markets can grow as the economy recovers. Fact is, people are still parking their vehicles - whether at the airport or at the downtown garage - maybe not as much, but look around you to see vehicles parked at your competition.

Small businesses have an important advantage over large firms. Unburdened by large bureaucracies, they can shift strategies more quickly in a changing environment. While bigger companies typically cut costs more steeply and more quickly than small firms, this opens the door for small companies to take market share. As larger companies focus on cost, smaller companies have the opportunity to differentiate what they offer...in a personalized way.

Like with anything in business, small business owners who can focus on the fundamentals (the bascis) and stay positive are poised for success as the economy revives. The bottom line is this:

• In a recession, small businesses need to step back and assess their long-term strategies. This often means resisting impulses to slash jobs, services and marketing tactics.

• Focusing on providing high quality services is an important strategy for small businesses in a recession. Great services can separate a business from its competitors and help it to retain customers.

• Small business owners and managers must stay visible and positive in a recession. Keeping communications open with employees, suppliers, lenders, and customers builds the trust and cooperation needed to overcome challenges. This is essential!

• Recessions can present opportunities for small businesses. Some firms will vacate markets when hard times hit, and these openings can be filled by other companies.

Opportunity is knocking hard. Consumers want your affordable service. Here is a "Beyond The Box" concept:

Parking Your Vehicle at the Airport does not have to be expensive or frustrating. Our Recession Rate of only $_____ per day is our way to show you "we get it". Experience the difference and save!

Do You Want Customers?

Undeniably YES, right? Right!

Okay, then lets get back-to-the-basics of when you first started your business. Because we all know how important the basics are in everything we are set out to do and achieve. And since we are in the heat of the basketball season, and March Madness is around the corner, just how important is it to 'make a layup' or 'make a free throw' during a game? VERY, and this is why before every game all players practice both techniques more than shooting around the floor.

Here is a great quote from many successful entrepreneurs: "If you take a different mindset, you may get a different outcome."

So lets begin with the 5 Top Tips for getting back-to-the-basics for the sole purpose of retaining existing customers and generating new customers.

1. Get clear about where you want to focus your time.

• Know first of all what you want - what you really want - to achieve with your business strategy this month, this quarter, this year and beyond. In these times, like we never experienced before, you must have a solid frame of reference to make good decisions.

2. Be open to all options.

• Sometimes assumptions and past experiences create a wall thus getting in the way of new thinking and objectivity. Be completely honest with yourself about whether you are limiting your range of solutions to how can you can achieve better results at your company, or with your staff, or most importantly, with your customer and/or shopper.

3. Create space to think.

• Establish a time and place to evaluate and analyze all your business options. Ask yourself the who, what, when, and how questions to support your new thinking structure. Write your thoughts down to create an approach to find solutions that may have stumped you in the past. The fact is, time will not change, so you will have to.

4. Take ownership for the outcome.

• As it should, the buck stops with you. Only you can manage your time and only you can therefore choose what and how you spend your time. You are the only one who ultimately chooses what you do and when you do it. Yes, there may be consequences beyond your control, but only you can decide the impact of those consequences.

5. Ask for help.

• You do not always have to do everything yourself, especially in these evolutionary times. There are always people around you who can help you with achieving your objectives. Again, think about that first day with your business - most likely, you were a sponge for information and were willing to do whatever it took to build your business.

In looking at prospecting for new customers, we know that this is never easy. In even the best economy, it takes creativity, perseverance and determination to successfully drive new customers into your business. But when the economy struggles, small businesses are better positioned to grow their brand by offering more services - personalized services.

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And here are a few marketing ideas to get you thinking:

• Spring Breakers - Reserve Now and save big from airport parking prices.
• Traveling over St. Paddy's Day, park your car with us and St. Paddy's day will be complimentary along with a car wash. Reserve Now for our lowest prices.
• Happy Easter from ________ Parking. Park your car with us and ________.

To summarize, it is all about fundamentals. It is important to realize that travelers - families, associations and business owners - have become more focused on their personal and corporate finances to circumvent cutbacks of any kind. So, if you really think about it, off-airport parking companies have a great opportunity to take market share simply because of the mindset of most American's - and today, it is about saving money!