For all of us, the cost of nearly every product and service we buy is going up in ways that are hard to ignore. For those of us who run small businesses, whose livelihood depends not on breaking even but on generating profit, rising costs are particularly troubling. When the cost of everything from shipping to rent to insurance premiums are creeping steadily upward, not having a corresponding increase in profits can quickly lead to disaster.

The biggest problem, of course, is that even while their costs are rising, almost all small business owners I know want to do everything they can to avoid passing the buck – quite literally, in this case – on to their loyal customers in the form of higher prices. And that, of course, is what many of us call being stuck between a rock and a hard place, a place where it’s nearly impossible to get comfortable.

That was the conundrum I was pondering recently when I ran across this column in Bloomberg Businessweekabout how business owners can cope with rising costs. What I liked about it – and the reason I’m sharing it here – is that it offers specific, practical tips and then provides real examples from real companies.

As one manufacturer of solar lighting discovered, shifting the location of production closer to customers can offset rising transportation costs.Altering the product is also a solid strategy for some companies. A restaurant in Texas, for example, actually reduced the cost of its prix-fixe lunch without skimping on portions or quality, in spite of the fact that overall food costs are up by 20 percent. This was made possible by cross-training employees and by using only ingredients that are in season rather than paying a premium for those that are not in season.

And, while the U.S. economy may not currently be all we were hoping it would be, there is a bit of good news to be found.  With the U.S. dollar declining, goods from the U.S. are more appealing to buyers overseas. For example, a provider of television weather graphics and forecasts is countering declining broadcast budgets in this country by selling more in China, where the budgets for weather technology are increasing.

As a marketing professional, my favorite of the five tips, is this: Ensure that your product stands out. “By offering uniqueness,” says the columnist, “business owners can rise above price pressure.”

Finally, if you absolutely must increase your prices, introduce new, lower-priced items and services at the same time.  As one small business discovered, introducing a new line of dresses made of less expensive fabrics not only ensured that loyal customer did not feel excluded when the price of the company’s primary line of offerings increased, it boosted the company’s overall sales by 10 percent as well.