In difficult economic times like these, it is the resourceful companies that manage to stay afloat. One way you can possibly give your company that needed boost is through identifying and expanding your network.

Your network includes your suppliers, your employees, your subcontractors, friends, family, previous and current clients – essentially anyone who can potentially send business your way. Work these contacts to their full potential. Hand-out business cards, mention that you are looking to expand your business or are offering a new service.

How about creating an incentive program for your employees and even previous clients? For example, when you are finished with a project, hand your client a small flyer with your contact information. If they send someone your way, you will give them a $100 gift certificate to a place of their choosing. Offer a similar program to your employees if they bring in a client.

In addition to strengthening your current network, look for innovative ways to expand and build your circle. Consider sponsoring a local little league or softball team. All you have to do is invest in some uniforms, a trophy, and a sign, and your company is now plastered on the backs of 45 local children two nights per week. (more…)