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Small Business Sales Strategies for a Tough Economy

The current economic climate, corporate distrust and sagging consumer confidence has put excessive pressure on the sales function of all companies. Small business owners and their sales teams are facing intense competition for accounts, eroding margins and longer sales cycles. What's a small business owner to do?

To prosper in the face of adversity your About.com Small Business Guide has assembled FIVE key sales strategies for small business in tough economic conditions.

1) Focus on Fundamentals: As any sports team knows during a slump, the best approach is to go back to basics. Look at each stage of your sales process: Do your lead generating activities bring quality, interested clients or mere "tire-kickers"? Does your team really understand your customers with in-depth needs assessments? Are features and benefits tied to specific problems facing customers today? Can you & your team close sales effectively in a smooth well-timed manner?

2) Fire your Customers: Closely examine all of your accounts. There may be clients who are high maintenance using up your time & resources with little or zero profit. Focus on your customers that appreciate your business and are profitable.

3) Trim the Dead Wood: In flourishing times, sales come easy so your top performer may have really been an order taker. The current market requires professional sales personnel. Evaluate your under performers, support & coach them. If they can't learn the necessary skills or are unmotivated, it's time to part ways.

4) Have Huddles: Hold regular monthly meetings for your staff. Spend this time to role-play skills, share best practices, have fun and give a motivational boost.

5) Re-Examine Pricing Models: Blindly cutting prices to increasing competitive pressure is a sure way to shorten your businesses lifespan. Carefully, look where to change prices and find ways to tie pricing to a long-term relationship. For example, a 3-year $599.00 contract is better for you and your client than a yearly $249.00 contract. Build a long-term relationship with your market.

During turbulent times, the small business that prospers and survives is the one who adjusts their sales approach to meet the current market conditions. Don't wait for a turn around...the time is now for a close look at your sales tactics.