Justin Kitch, Intuit‘s Chief Growth Officer said in an interview with me almost a year ago, that when everyone else is “zagging” – you should “zig”.
It’s quite appropriate to share this interview again, as many small businesses are worried that their costs are going to increase in the coming months and years.
I’m reminded of this worry in reading the Small Business Trends post, Small Business News: Rising Costs and just speaking with my local dry cleaners.
Justin’s advice is spot on.
When other businesses are hunkering down and NOT hiring or NOT spending on marketing, you should consider increasing your spending in these areas and/or NOT reducing them to zero like you might be tempted to do.
In fact you can leverage lots of LOW COST tech solutions for a BOOST in revenue, money savings, time savings, increase in revenue and boost in customer service.
Justin explained in this interview that there are in fact growth opportunities that you might get at a lower cost than when the economy is healthier.
Even though times might be tough for small businesses, don’t despair and DO NOT curl into a fetal position.
When the economy improves you’ll be in a better position to rebound if you are using these uncertain times as an opportunity for GROWTH.
At the Fifth Annual Small Business Summit (http://www.smallbiztechsummit.com) in March 16, 2010, Small Business Strategy award winner, GreenHouseIT said that the reason they succeeded while many of their competitors struggled was that they (GreenHouseIT) did not cut back.