With a variety of services and tools available, we are the perfect partners to help meet your business' short- and long-term needs. Simply stop by, visit us online at www.amerfirst.org or call 800/ 290-1112 to learn more.

Your Business
7 Steps for Surviving a Slow Economy

An economic slowdown may cause difficulty for your business, but it can also be a source of great opportunity. The difference is in how your business reacts: Does it employ a fearful and panicked attitude, or take a calm, thoughtful and forward-looking approach?

The following strategies can help your company excel during tough times, but they should also be implemented when business is booming.

1Reach out to your audience. When times are tough, you may be tempted to cut back on your marketing efforts. But successful marketing efforts pay for themselves and help ensure that you come out ahead when the economy improves. If your current marketing strategies aren't yielding the outcomes you desire, try to find a fresh new way to reach your target audience. Create a marketing plan and stick to it.

2Keep your current customers. It's much easier and more cost-effective to keep current customers than to find new ones. Make sure your business provides excellent customer service, which is valued and appreciated in any economy. As consumers tighten their wallets, you may want to provide discounts to encourage customer loyalty; consider sales, coupons or gift certificates to keep customers coming back. Think about other ways you can improve customer relationships to earn even more repeat business.

3Control your cash flow. It's important to know how your money is being spent. Examine your cash flow so you can trim unnecessary expenses and identify potential problems before they get out of hand.

4Identify your company's strengths and weaknesses. When revenues are lackluster, take time to carefully examine areas where your company can improve. Consider surveying past and current customers to uncover your company's hidden strengths and weaknesses.

5Consider untapped sources of income. Is your business in a position where it makes sense to offer a new product or branch out into a new market? Consider the pros and cons of targeting a potential new niche, and then develop a strategy.

6Talk to your team. If you're worried about the economy and how it will affect your business, chances are your employees are worried, as well. Keep them informed about the business's outlook and strategies being undertaken to maintain a healthy bottom line. When employees have an accurate view of the situation, they'll be less likely to get caught up in a swirl of rumors.

7Develop a strong business banking relationship. Your American First Credit Union business banker can help you with the opportunities and challenges you face, in good times and in bad.

Merchant Processing with American First Credit Union

Accepting major credit cards at your business is easy and affordable with American First Credit Union. We have partnered with Orion Payment Systems to offer you personalized customer service and competitive merchant processing. By accepting major credit cards, you'll offer your customer convenience through payment options as well as increasing your sales by as much as 40%. Orion Payment Systems can provide you with credit card processing for all your retail and mail order business and you can even process online transactions for your Web site. Other services that are available are electronic check transfer and guaranteed recurring billing and gift cards. With Orion Payment Systems you can process on-the-go with a wireless terminal or even with your laptop computer. Visit your local branch now or call 800/ 290-1112 to get a FREE cost analysis today.