Playboy magazine editor-in-chief and legendary host, Hugh Hefner, has announced that the free ride is over. Private parties at the famous Playboy Mansion will now come with a price tag anywhere from $5000 - $25,000 an event, depending upon the event and the celebrity guest list. If you’re looking for Halloween plans, the mansion is now selling tickets starting at $10,000 for their celebrity and playmate-studded affair!

Playboy Enterprises is indeed feeling the pinch on the economy. With the company losing money from  the poor performance of its DVD, cable TV and print division and with a stock trading at under $3.50 a share as of the beginning of October, the organization is looking for ways to cut costs and increase revenues. While online advertising, licensing deals and sponsorships are avenues they are using to boost sales, Playboy Enterprises is going to capitalize on its renown parties to generate quick cash flow.

And why shouldn’t they? These parties are world renown, are attended by the hottest celebrities and of course, are highlighted by the famous Playboy bunnies. I don’t know anyone who would ever turn down an invite to this fantasyland…I am obviously not hanging out with a very puritanical crowd.

What can you turn in to an additional revenue stream for your business right now? Is there an additional service you can add-on or perhaps a softer-priced product line your customers may be more comfortable buying during these tighter times?  During this period of economic uncertainty, opportunity is just waiting to be found, just take different look!

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The markets have had a topsy-turvy week!  Some people lost their shirts, others made a ton of money - what are you doing to ensure your success?

Speaking to dozens of small business owners each week - I can quickly analyze which ones buy into the negative spin media is putting on the recent market whoas simply by the gripes and moans relating to the challenges they are having in their business; too much competition, no one is spending money, housing and stocks are down, high gas prices etc.

On the other side of the coin, I see other business owners in the same industry and the same market flourishing during these same temultous times.

Why is this?

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The economy is facing some challenges, no doubt about it. But now is not the time for small-business owners to develop a “recession” mindset. Here are five tips to help you create your own  success while everyone else is expecting the worse:

1. Start spending: It may sound counter-intuitive, but hard times call for you to increase some of your expenditures. For example, if sales is the lifeblood of your business, you should consider adding to your sales team by staffing up or investing in a product that could make your sales process more efficient. Or, you could boost morale and positive energy within your sales team by raising commissions for top performers, or giving them gifts that they will appreciate, such as tickets to a sporting event or a concert.

Obviously, this does not mean you should increase spending across the board. Rather, make spending decisions with your customers in mind. For example, if you run a coffee shop, consider going from two baristas to three because your competitors are likely trimming their staff, and you could gain customers who don’t want to wait in a long line.

2. Make friends: A friendly phone call or two to your vendors and creditors is very important at this time. Building rapport and camaraderie with your suppliers can be crucial if your own customers are slow to pay. If you have built a solid working relationship with vendors, in some cases you could ask them to lengthen your payment cycles from 30 days to 90 days, or renegotiate rates.

Keep the phone lines open to your bank as well, and be sure to have a plan in place if you need loans in the near future. If you don’t already have a strong history with your bank, it may be to your advantage to take out some small loans and pay them back on schedule to strengthen your credit.

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