There are so many things we can do to run our businesses more efficiently, and although we don’t have the resources to take on what some of the larger stores are doing, like investing in solar panels to generate electricity,(to see how some of the larger stores are capitalizing on this opportunity through their massive rooftops, you can view this recent article from The New York Times), there are things that we can do so less money is going out the door, while hopefully driving more dollars in.

One way to drive more traffic to your store, without spending a lot more money is building up your websites.  There are many articles about how consumers are using the web to shop, or if not shop, at least comparison shop, as with the high cost of gas more and more savvy consumers are staying home and clicking.  To read more about this new trend in consumer behavior visit here.  The importance of websites is also discussed on the GHC website blogs here.  So brand yourself on the web and further your reach beyond your store hours and your town border.

In addition, as store owners, we should regularly evaluate what we are spending money on and consider ways to decrease our spending.  Carol Schroeder, owner of Orange Tree Imports, speaks to finding ways to save in this informative video.

As James Skinner, CEO & Vice Chairman, McDonald’s, said in an article entitled ‘CEO’s on Being 'Recession-Resistant' - By CNBC.com on August 11th, 2008, “We’re able to operate well in a recessionary environment. We’re not recession-proof, we’re recession-resistant. Our value and convenience drives that opportunity with our consumers around the United States and around the world”.  So ask yourself, what value and convenience do you drive - location, ease of parking, merchandise mix, customer service, great priced merchandise?  Capitalize on your value, but never take your eyes off of where and how you can keep your internal costs down.