Research shows that if you are a small business in this economy, the chance of survival decreases every day.  Only the tough will survive, and that means you have to make some creative choices to improve your strategy and stay in the game.  The upside to this is that if you can achieve an increase in revenue during a struggling economy, you will own a bigger piece of the pie when the market comes back.  That is how it’s always been.  The companies that outlast the rest will be the next industry leaders.

Small business owners should welcome this challenge with full force, because the potential for huge returns and longevity is never guaranteed when everyone is doing well.  However, this requires a savvy mind, a brave spirit and some risky decisions.  You will need to think outside the box and approach things differently than you have in the past.  It’s a different game.

Keep up to date on the current needs and wants of today’s consumer.  You must stay ahead of the pack when it comes to keeping your product or service fresh and in demand.  This does not mean that you have to change your whole product line, but you might want to give it a new look or slogan that will appeal to a larger audience.  You cannot stay focused only on your target audience – start thinking of a whole new demographic that you could tap into.

Stay abreast of the latest technology and internet marketing strategies and don’t be afraid to try something new.  The great thing about marketing on the internet is that there are a lot of cost effective options that do not require much of an ititial investment, if any at all.  Find the most popular internet marketing blogs and read them daily.

And last, but not least, there is strength in numbers.  Remember that you are not alone.  Join with other struggling small business owners and find ways to compile your resources and attract business together.  This could mean simply cross marketing with a few other local businesses for referrals, or on a more powerful level, you could join an association that will market your business for you.  Find out more about joining the Small Merchant Retail Association today and stay ahead of your competition!