Your Landlord Lowered the Rent. Now What?

You have convinced your landlord to lower the rent for the next nine months. He was quite generous, a 50% discount, and he's not even requiring you to payback the difference. Now what do you do?

You need to turn things around fast--its not likely your landlord will be as accommodating if you can't pay the full lease amount in month ten. You need to focus on two areas: cutting expenses and increasing revenue. You need an action plan and you need to put it into place ASAP. Here are some suggestions:

Cut/eliminate all expenses that do not affect the quality of your product or service
Work more hours, cut your employees' hours
Ask your suppliers for discounts
Market to your current customers more often and ask them for referrals (This assumes you have a database of current customer--IF YOU DON'T, Start One NOW!!!!!!)
Budget your savings on the rent for more marketing---Marketing that is measurable and has an immediate impact and yields a positive return on investment
Join a networking group that shares leads
Are you marketing online? Blogs, Facebook, Twitter, MySpace,...Do it! It's free and a great way to target your messages
Do you have any ideas I can post? Please contribute!