Cut Costs: Lowering your overhead and crafting a lean business model can help you survive a range of unfortunate scenarios. Take a hard look at your expenses and where you can cut back. Technology is helpful here – you can invest in accounting automation tools, for example, that will save you time and money. You can also decrease your marketing budget and still make a big impact thanks to social media, blogging and strategic SEO. Prioritize your Customers: It can be easy to forget about your existing customers when you’re fighting to bring in new business and make ends meet. But a negative or stressed mood isn’t beneficial for anyone in tough times. Instead, you should celebrate the loyal customers you have and ask them for help! They can provide encouragement and contribute by way of word-of-mouth marketing, reviews and more. Strengthen your Support: As a member of the Medford Chamber of Commerce, you have already begun to build a local support structure. To maximize your support, become active in the chamber and leverage all of the tools our chamber offers. In addition to the chamber, it’s always helpful to reach out to mentors, join local small business groups, engage with your community and build an online following. All of these steps can bolster your business and your mood in tough times. Networking is an important component of building a business support system – in good times and in bad. As this Inc. article says: “There are two types of business – those that have had tough times and those that are going to have tough times.” The real test is how you respond when you’re struggling. Are you ready to take action, cut costs, prioritize your customers and strengthen your support?