Global B2B buy sell marketplace: bytrade.com Be Prepared Financially One of the major reasons small businesses fail is that owners do not have the financial backing to survive the tough times. If your company is surviving on a month-to-month basis, it's a good idea to look for ways to reduce costs or increase your profit point. If you have looked at every way to reduce your cost and don't want to sacrifice quality, look at other ways to keep your profits higher than the next person. This may be a line of credit from your bank that carries you through tough periods. You may need to change a policy of giving customers 30-day billing. Sometimes location is everything, but sometimes it is an unnecessary expense. Whenever you can, put money aside into an emergency fund and keep six months' worth of expenses liquid. You should also attend small business financial management workshop to take charge of your factory's assets. Create a Website Many small businesses serve a small portion of the community and make the mistake of not investing the time or money into a website that shows what you do and where you are located. More and more people start online when looking for goods and services, even a local service such as a haircut. Internet search engines have become very good at giving regional search results. If you don't have a website that lets people know who you are and what you do, you are missing out on additional exposure. If you really want to ramp things up, you can make your site interactive by giving your customer opportunities for feedback and providing online coupons and learning forums. Look for PR It seems that big businesses consume the news with new technology or Wall Street scandals, but many small community papers are looking for positive local stories; your business can be one of them. You can find opportunities to send out a press release and invite people to visit your store. If you have just remodeled, maybe you can have a grand re-opening. If you are sponsoring a youth sports team and the team makes it to the state championships, you can take out an ad and hold a special "Team Day" at your location. Positive PR comes from news outlets, publication and the age-old word of mouth. It's important to be active in your community so that people will realize that your business is part of the community. Community members support one another, and you will find that your involvement brings more people to your business.