If your sales have shrunk by 40 percent in the last 6 months are you a bad businessperson?  It depends.  Have the total available opportunities also shrunk by 40 percent?  You need to gauge your performance by market share.
     Market share is determined by dividing your actual number of sales by the total number of opportunities for sales available in your target market.  Market share tells you what percentage of the total market you have captured.
     In this down market, when you and your competitor are fighting for the same sales opportunities, and trying to manage profit margins at the same time, it seems crazy to talk about growing market share.  But now is actually the best time to start growing market share if you can afford to do so.
     Sometimes the best defense is a good offense.  While your competitors are cutting expenses, your investment in gaining market share can pay huge dividends.  Not only will it help to pay the current bills, but it will rocket your business to new heights as the economic climate changes for the better.  Every increase in market share you gain now will multiply your revenue exponentially as the pool of sales opportunities grows.
     Cash and other corporate resources are tight, but every investment in growing market share will set your business apart from your competitors.  Here are three simple, cost-effective ways to market your business and grow market share:

1. 1.  Have all your employees become sales and marketing people.  Every employee should be actively engaged in marketing your business and selling your services or products.  For some businesses this means sending employees out to various service organizations (Kiwanis, Lions, and other clubs) to let their members know about your business.   For other businesses it is dispatching employees to “meet their neighbors” and distribute coupons.  One business I know of had all of their employees put large magnet signs on their car doors so that as they drove to work they were advertising.
2. 2.  Pare back on brand marketing and spend more on lead generation.  Here are some powerful ways to create leads that cost very little:
   a. Partner with other entities to market your business.  Think about where your customers might go right before they come to you.  If you own a car wash can you partner with a gas station?   If you own a flower shop can you talk to the local hospitals or nursing homes?  If you sell services can you partner with other businesses to give their employees an introduction to your services at lunch?
   b.  Put on workshops or seminars.   Advertise free workshops or seminars and give away valuable information.  Use these workshops to build trust or at least to start building a relationship.
   c. Being a guest speaker at BBB meetings, for religious organizations, or for special interest groups.  By speaking you and your company are set apart from the rest of the competition.
   d. Write an article or a series of articles for the local newspaper.  This establishes you as a guru and your business as a strong member of the community.
3. 3.  Talk to your customers and ask for referrals.  If you have done a good job, people don’t mind sharing your name with their friends or sharing their friends’ names with you.  Don’t be shy about asking.  We've all had the good fortune of having a friend let us know of a special deal that we can take advantage of.  Sometimes all it takes to get a referral is to ask for it.

     You should be constantly fighting for market share.  With more market share you'll have a larger and stronger customer base.  With more customers you will experience more stability.  With stability comes steady income, and it is steady income that ensures the long-term viability of your business.