The Los Angeles Times reports that many small business owners aren't sitting idly by hoping for the economic recover to save them. They're saving themselves through innovation.
- One bookstore owner is switching from its standard inventory of books to bargain titles to lower inventory costs.
- A commercial bakery cut salaries across the board by 10 percent, even as it continues its expansion plans to hire more workers and add trucks.
- A 33-employee manufacturer of stage drapes for touring bands, schools and religious organizations is using teleconferencing instead of a showroom to keep expenses down.
- A fitness studio added a line of DVDs since some customers can afford to come less frequently.
What are you doing with your small business to stay competitive -- or even just to survive -- in a period of recession? Leave a comment or take the poll.
I own a fitness center. Since customer service is the biggest part of retention in our industry, I started working the front counter during prime hours. This way I could great all of our members and make sure they were happy with our services. It also gave me a chance to talk to them about personal training and nutrition. This way I could add more revenue to the club.
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