n the midst of one of the harshest economic recessions the country has known, several hundred optimistic and enthusiastic people turned out for an Open City meeting on a weeknight evening to discuss how to launch or keep their dream business.
There was Tanya - a Bizdom U graduate who was looking to launch a loyalty card program yet in the development stage. Masha - who was opening a 3,000 sq.ft. art gallery representing Detroit artists next to the Westin Book Cadillac. And Janet who had operated the Source Bookseller on Cass Avenue for years.
From my perspective of owning a communications and design agency in Detroit for 27 years, survival means keeping your passion and business plan intact as you navigate the financial realities, namely:
Fine tune what defines your business. What benefits do you provide that no one else in your industry does? It's all about discovery and how you've moved the needle for your customers. Start by looking at what 80% of your customers have bought - and then build your case.
Widen the reach of your message. In the age when prospects rely on the trusted advice of associates, get that message communicated to your relationships. It is amazing how a note, phone call, a text message or a Facebook page can produce a recommendation of someone who might benefit from your company.
Chart out what success looks like. Be disciplined in developing a hit list of prospects and actions you can take. Make 10 calls per week. Speak to associations or industry groups where you can offer your expertise and hit an audience of 50. Design a how-to piece. Contact your banker, accountant, or coach for referrals. Attend meetings such as Open City where you come into contact with other business owners for fresh ideas.
In the high-speed age of technology, it is still about relationships and innovation. And if you own a small business, chances are you have both - waiting to be pressed into service.












