So we all know its a tough time right now. Questions come to the surface on a daily basis. How do we cut our costs? How do we generate more revenue when no one is spending money? How do we brand ourselves when it costs an arm and a leg to do so?

In March of 2008 companies all across the nation lost 50%, 60%, 70%, 100% of their business and there was no end in sight. I would like to share with you 3 creative tactics to stay in business and actually grow month over month.

1 - Its all about customer service. What is going to stand out in a customers mind when thinking about paying for a service? How was I treated? What kind of promotions did they give me? Are they truly thinking about me? Step number one is to know your customer. CALL THEM. Many customers in a downtime just want to talk to someone about their problems. Spending time with the customer will tell them you care. Thank them for being a customer and ask them if you can do anything else for them and their business. The human touch always gets the cash flowing.

2 - When's that next promotion? If you drive round town or watch television what are you always noticing? There are SALE TODAY signs everywhere. Try to have monthly or even weekly sale promotions. Sign up today and get 10% off. Free for the first 30 days. Get creative with your business on how you can promote your products. Make sure its a new promotion each week or month. It will tell the customer you are thinking about them and their needs. iBank gave away a free laptop the other day as a promotion. GET CREATIVE!!

3 - Performance Based Contracts and Comp Plans. The last thing your employees and vendors want is to be laid off or to find out your canceling your account. In this recession iBank's overhead quickly became more then its revenue and guess what? Our CEO didn't lay off one person and didn't cancel a single account with one of our vendors. We sat down with both our employees and our vendors and said "What can you do for us to stay in business and continue to pay you" you wouldn't believe the reaction. Employees gave up weekends, took pay cuts, went to commission only complains. Vendors lowered their prices, went to a performance based contract, canceled payments for a month or two. Work with your people and your vendors. You will need them more then ever in the tough times to get back to where you need to be and sustain positive growth.