In a recent survey by JPMorgan Chase & Co., 80% of small businesses related their views for 2010 as "pursuing a moderate or aggressive growth strategy." This should come as no surprise as many financial experts believe the economic recovery will begin on Main Street. You wouldn't want to be left behind. Here are 10 areas of possible growth for you, based on existing conditions:
Cut monthly costs. Check your telephone bills and calling plans, the service charges levied by credit card companies, and the shipping fees you pay to companies like UPS and FedEx. There is no better time than now to seek better deals.
Rethink traditional media. With newspapers, television, and radio taking it slow from the recession and the flow of ad dollars to the Internet, you're in the best position ever to bargain with media companies and gain access to spot ads you previously couldn't afford. One of the best ways to get more for your money: billboards.
Upgrade your Web site. It wouldn't hurt to get in touch with a few Web design companies to see how you can further enhance your company's presence on the major search engines, improve customer service, and create a stronger brand identity. Get bids on what it will cost for you to make these changes, and if the price is right, take the plunge.
Expand your offerings. As part of your business development plan, begin laying the groundwork to get one more product or service offer in the pipeline soon. Even if you don't know what it is yet, the process alone will boost your imagination and force you to gain a wider view of the playing field. Necessity breeds innovation.
Get a little greener. Find ways to reduce, recycle, or eliminate waste. You'll be amazed at what it will do for your conscience — and your bottom line. Assess the cost of heating and cooling your office. Many power companies provide free energy audits. Switching to energy-efficient lighting alone can save lots of mullah.
Create a rainy day or contingency fund. Save up at least1% of your profits in this account. This will help get you through the next business downtrend.
Be the symbol of optimism. Promise to give out one more compliment to a deserving employee every day. Don't be too stiff — be the boss your employees want to work for. Whether you believe in karma or not, it will make your employees and you feel better.
Consider reconfiguring tasks and responsibilities. No doubt, the recession has forced you to scale back. Now you need to re-evaluate how you're going to grow. Part of the process involves re-examining how tasks get accomplished in your company. Future staff costs can be streamlined by creating a flow chart of duties and responsibilities. Don't be afraid to make modifications.
Hire an intern. Ask universities and junior colleges in your area if they have internship programs that offer students the chance to gain real-world experience in their field of study. Interns usually earn course credit from their school and a small wage, or none, from the employer. Later, an intern can even turn into a valued full-time employee.
Become a mentor. Share books that have shaped your perspective on people, leadership, and running a good business. Take a member of your staff to a rotary club meeting or introduce them to an important client. Or assign a task that requires trust to accomplish.

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