38 Methods (From 38 Experts) To Help Your Business Survive & Prosper In A Recession – METHOD #32

Posted: April 30, 2009 in How Your Business Can Survive & Prosper, Recession Survival Tips
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The 38 tips you’re about to see are contained in my two e-manuals called, “How Your Business Can Survive And Prosper In A Recession.”

NOTE: I interviewed 38 top experts in business, sales & marketing. Each expert revealed the common mistakes most businesses make, 5-10 methods that they’d use to survive and prosper in a recession, and money-making opportunities available to business owners during this time.

You are about to see just ONE method from each of their interviews. If you would like to see more, then you can go to the site and check out a free preview of two of the interviews or grab both e-manuals for one low price.

Now here is your 32nd tip…

(Vol. 2 Laura Ries – Method To Survive & Prosper)

Slim down the product line. In general, almost every company has too many SKUs, or their equivalent. Does Coca-Cola need 14 varieties of Coke? I believe they would sell just as much Coke with half the number of SKUs. Furthermore, reducing the product line would save money in production and distribution.”

Laura’s method ties into this week’s theme: cutting or improving expenses.  This method is important because, again, during the times when the economy is doing well you can maybe overlook this area, but now is not the time!

Do all of you products or services sell equally well?  Do they all bring in enough profit to justifying whatever amount of sales they bring in?

What product or service could you cut that would allow you to increase your sales of a more profitable or popular one?

Ask yourself this question, look over your numbers, talk with key team members and decide if this method is something that would help your business.

————————————————-
Laura Ries is president of Ries & Ries, an Atlanta-based marketing strategy firm that she runs with her partner and father Al Ries. They consult with many Fortune 500 companies and have given speeches in over 60 countries around the world. Laura & Al are the co-authors of four books including Business Week bestsellers The 22 Immutable Laws of Branding (1998) and The Fall of Advertising & the Rise of PR (2002). Her latest book is the The Origin of Brands (2004) which applies Darwin’s concept of divergence to branding. Laura is a top marketing thought leader and a regular media guest. She has appeared on Fox News, CNN, CNBC, ABC, CBS, PBS, Fox Business, CNN Headline and Bloomberg. She is also frequently quoted in the New York Times, The Wall Street Journal, USA Today, Associated Press, Advertising Age and other publications.

  • What are some ways you’ve seen this method used effectively?
  • What ways can you or others apply this today? Post your comments, ideas & suggestions below!

The FINAL 6 methods are still on the way! The next one will be Tomorrow at 8am PST. Sign-up at top by email or RSS feed, so you won’t miss them.

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Comments
  1. […] “Slim down the product line. In general, almost every company has too many SKUs, or their equivalent. Does Coca-Cola need 14 varieties of Coke? I believe they would sell just as much Coke with half […]

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