by C. Robert Brown

Created on: February 20, 2009   Last Updated: March 02, 2009

No one has experienced the coming of economic recession like the small business owner. It's fair to say that the small business owner weathers the leading edge of the storm much differently than his or her larger more solvent brethern. Many small businesses haven't even had the chance to see the eye of the storm so to speak.

So how can a small business owner protect his business's current stance in the market place, foster new growth and continue to forge ahead in a marketplace that is dwindling?

First and foremost a small business owner must become completely aware of the complete cost of doing business. Now I know you're saying right now, duh! Don't, a surprising number of small business owners don't spend the time looking at costs in depth. Each month, weekly if your business has a moderate or high volume in relation to your workforce a small business owner should evaluate all aspects that represent a liability as well those that are direct costs. Find out if it is becoming more or less expensive in the little areas that nickle and dime a business to death.

Start a slush fund! That's right save for a rainy day. Diversify where your company's earnings are going by shedding a portion, as much as your business can afford in to a secure investment package or savings account. This doesn't mean that you will have to give the guys a can of spam at Christmas as opposed to a turkey. Ask your employees what they think, where can you save money? Would they be in favor of suspended bonuses, wage freezes or reduced commissions?

That sounds pretty harsh, but the emphasis is not to make your employee's the saving grace through stripping thier ability to feed thier kids. The emphasis is to allow your employees to help seek a solution that will keep them in a secure job and your business in business.

Look at your business's offerings and seek to add and justify value to your customers. Expand your customer base. There is most likely one service or product you have on your shelves right at this very moment that represents a need for someone outside of your normal customer base, think hard brainstorm!

Expand! Yes that's right expand! Get the stimulus loans, get the small business loans and expand! Don't laugh or short change this perspective. Several things are going on right now pay attention. There is a premise in the military that generally is the only escape for an ambush and that is "advance under fire!"

This concept is most likely the most startling of any a small business owner could consider, however ask this; when would you eventually expand? Don't know do you? Well here it is, small business loans, stimulus packages are abound, couple that with an abundance of commercial space at dirt cheap prices and viola`! You have what it takes to pull this off, and at the same time you create stbility and growth.

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