Deep Roots, Winning in a Recession, and Business Systems

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Develop Sound Financial Systems to Win in a Recession

Develop Sound Financial Systems to Win in a Recession

Yes, I know that everyone says the recession is getting better. Great. But I'm still operating under the premise that a recession mindset has positive effects on your business.

How can that be, you say? Recessions have a way of weeding out the unfit business practices. If it doesn't do the job, it reduces the overall effectiveness of your business, and wastes time and money.

You want business practices that can beat a recession, that can stand the test of time and stress. Another phrase that this brings to mind is "Deep Roots." When your business puts down deep roots, it has the base stability that allows you to ride out the storms of turbulent financial times, the challenges of other businesses in your industry, and the difficulties of the continual need to adapt or die.

Deep Roots in Business are Systems

You put down deep roots in your business when you create, test, and fine-tune the systems by which you operate your business. The deep roots of systems are what save you time and money and what allows you to outsource activities. That leads to growth and positive adaptation, both of which are essential to the health of your business. What kinds of systems am I talking about here?

  1. Product Research systems: You want to create a standardized method of researching potential new products, determining the demand and current supply in the market, and prioritizing products for development.
  2. Product Development systems: Once you know what to create, then you need a system, or systems, that standardize its development and preparation for marketing.
  3. Market Research: You've got to know your market inside and out. You will have already done some of this with your product research, but to develop a marketing plan, you need to know your prospects better than they know themselves. You need a system in place for determining markets and evaluating them.
  4. Marketing Plan: Once you have a product and a market, you need to decide on what marketing channels to use, prioritize your roll-out to different channels, and develop marketing materials for any offline and online promotion.
  5. Traffic Development: You need eyeballs on your offers. How are you going to bring them in front of your product and service offers? Most businesses focus on a few marketing channels, and master them. Get your systems in place for automating this process. It'll save you tons of time.
  6. Sales and E-Commerce Funnel: Starting with your main page, lead generation pages, and sales pages, you've got to develop a path through your system to buy. How are you going to funnel them through to a sale? What kind of back-end process are you going to use to maximize sales? What about autoresponder follow-ups? And don't forget your shopping cart system. You want a seamless and effective system here. Without it, you have no sales!
  7. Conversion Optimization: Once you have systems to create products and marketing materials and drive sales, you need to refine your system. Always be testing conversions driven by different areas of your systems. You are always looking to improve. To do this, you must test and test, over and over again. And yes, you should have a system for that, too.

What Do You Get From The Deep Roots of These Business Systems?

In a word - money.

Yes, that's assets (brand development, products, mailing lists, and marketing materials), long-term viability (channels and traffic generation), sales (there's your money), and long-term adaptability (that's your conversion optimization and testing). That's the essence of a successful long-term business model.

One last note: Notice that the systems above don't mention specific techniques. Systems are procedures - do this and then this. They do use techniques. Each system is designed to support one or more concepts. How you do it is not as important as the model you choose. If you are successful at your procedures and techniques, then by all means use them. There is no right and wrong to those - just bad, good, better, and best (that's where optimization comes in).

Have you got any good concepts or techniques to share? I'd love to hear them, and so would other readers. We can all learn from each other.