The Wall Street Journal today reported that some small business owners so accustomed to hunkering down to survive are failing to see the economy is recovering and remain unprepared.  This is a reminder that failures will continue well into the future due to recession-related stresses and failure to prepare.

What can you do right now? Here are a six ideas:

1. Network. It’s the holiday season, reason enough to go out to meet and greet customers, prospects and referral sources.  If you can’t get out, pick up the phone.  Stay away from email…this requires the human touch.
2. Visit your Banker. Yes credit is still tight.  If you want any chance for a loan it’s important your banker remember who you are.  Invite the banker to your offices.  Take time to explain what’s changed and for the better.
3. Update Marketing Materials. Even if you simply rework the old materials, do something to make it look revamped and new.
4. Verbal Branding. Make sure all your staff can articulate in as few words as possible what differentiates your company from competitors.  Say just enough to capture someone’s attention and curiousity.  Talking less not more to explain what your company does.  To learn more visit Melanson Consulting.
5. Finalize Key Policies & Procedures. I specifically recommend your credit policy.  Failures will continue. Not all new customers will be good customers. While you’re at it review and revise how you process purchase orders.  Never hurts to make sure the right employees are approving the right purchases and your CFO will appreciate it.
6. Trade Shows & Conferences. Consider previous trade shows and conferences attended. Evaluate which ones are worth your time.  More importantly research the new ones you need to attend…new events where you might meet a better quality customer and/or referral source.  Plan your attendance now, get it on your calendar and schedule when to make the necessary reservations to minimize cost.