Welcome to the Working Solo Minute, the 60-second newsletter designed specifically for solo entrepreneurs. To unsubscribe or change subscriber options, see the bottom of this issue.

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http://www.workingsolo.com/minute033.html

Thriving in Turbulent Times

Yes, these are (pick the adjective) turbulent, scary, unsettling, nervewracking, chaotic -- and "interesting" -- times. Perspective is in order, as well as an action plan. Here's mine for soloists:

1. Refine your offerings.
Now's the time to take a hard look at your business and consider what the future may bring. Will your products and services be appealing in a weak economy? If not, consider how you might reconfigure what you offer that can bring value to future (and current) customers who may be limited in funds, time, staff, or other resources. Note: Slashing prices in an arbitrary or random manner is not a solution. Think creatively: new packaging, new combinations, new products or services.

2. Refocus your marketing.
While you may instinctively want to cut back on everything, think again -- particularly about marketing. This is an area where you want to remain active and visible. Fortunately, many modern marketing efforts require minimal hard cost outlay. Consider how to boost your marketing with digital outreach -- your Web site, an email newsletter, blog, etc. And don't become a hermit. Networking events will be more valuable than ever as we ride out the coming months of shaky times.

3. Reduce your expenses.
Even if you're not feeling the effects of this global financial upheaval yet, be proactive and cut unnecessary expenses. Trimming costs now can save you pain later. My rule of thumb: if it's an expense that can generate revenue for your business in the next 60 days (think: professional development or marketing), then it warrants serious consideration. If it's an outlay that can be postponed or eliminated, hold off.

4. Relax.
This may be the most difficult item on this list to follow. Step away from the information tsunami of television, Web, radio, and other broadcasts of financial news. Breathe. Try to find some perspective, and don't overlook the impact of eating properly and getting enough sleep. Determine what you can control, and what forces lie "outside your boat."

This is also a time to reach out to other soloists, perhaps in a MasterMind group -- for a reality check, to brainstorm future business strategies, and to recognize that we're working solo, but not working alone.

-- Terri Lonier
Founder, WorkingSolo.com

Next Issue:
How I Choose Clients