Preparing for a Recession

Re: Preparing for a Recession

We are going to increase our advertising because we believe we can get market share during a time when everybody else is scaling back.

Re: Preparing for a Recession

We continue to do what we are doing until we see some leading indicators i.e. like rfps begin to slow down

Re: Preparing for a Recession

Preparing - You should already be prepared we are in one!

Re: Preparing for a Recession

I'm watching to make sure that everything I do will put me in front of more of my ideal clients. From networking events, to speaking gigs.

Re: Preparing for a Recession

I'm watching to make sure that everything I do will put me in front of more of my ideal clients. From networking events, to speaking gigs.

Re: Preparing for a Recession

No matter what the economic climate, being in the right business/es will allow you to continue to profit. People will always travel and go on vacation and people will always eat.

Danyelle

Re: Preparing for a Recession

It's interesting you brought that up.

I think the economics is one factor, but I think the way business is being done is changing overall.

Especially for small business owners, the good news is that now there are more opportunities than ever.

For those who know how to take advantage of them.

Re: Preparing for a Recession

AlexBwurth;33719 wrote: It's interesting you brought that up.

I think the economics is one factor, but I think the way business is being done is changing overall.

Especially for small business owners, the good news is that now there are more opportunities than ever.

For those who know how to take advantage of them.

I agree completely, sometimes a slow economy helps business out because it drives people to new products and new ways of doing things.. small business are more likely to be able to adapt quickly.

Re: Preparing for a Recession

I will take a dive and encourage a different train fo thought...

I co-own and run a karate school with healthy student body, and a steady monthly income. Through the economy "dip" as Mr. Bush calls it, we have seen very little change, and this is my main reason why.

During these times people panic, cut spending, decrease pay etc. I persoanlly didn't do this. I increased my marketing spending 20%, and did more non disposable marketing. This seemed to work as my income actually went up.

I didn't cut employees pay. I actually gave them a bonus mid way through the year because we were doing so well in such harsh times. I can only hope they spent it to help reinflate the economy :p.

I think this will work for some, but not all. It worked for me, and I'm in the "extra activity" catagory that usually gets cut first when looking at financial situations.

Re: Preparing for a Recession

05ah8james;36656 wrote: I will take a dive and encourage a different train fo thought...

I co-own and run a karate school with healthy student body, and a steady monthly income. Through the economy "dip" as Mr. Bush calls it, we have seen very little change, and this is my main reason why.

During these times people panic, cut spending, decrease pay etc. I persoanlly didn't do this. I increased my marketing spending 20%, and did more non disposable marketing. This seemed to work as my income actually went up.

I didn't cut employees pay. I actually gave them a bonus mid way through the year because we were doing so well in such harsh times. I can only hope they spent it to help reinflate the economy :p.

I think this will work for some, but not all. It worked for me, and I'm in the "extra activity" catagory that usually gets cut first when looking at financial situations.

It is good to hear some businesses are doing well despite the economy! Your employees must of been very happy given what was going on in the market. Hopefully they appreciate it.

Re: Preparing for a Recession

05ah8james;36656 wrote: I will take a dive and encourage a different train fo thought...

I co-own and run a karate school with healthy student body, and a steady monthly income. Through the economy "dip" as Mr. Bush calls it, we have seen very little change, and this is my main reason why.

During these times people panic, cut spending, decrease pay etc. I persoanlly didn't do this. I increased my marketing spending 20%, and did more non disposable marketing. This seemed to work as my income actually went up.

I didn't cut employees pay. I actually gave them a bonus mid way through the year because we were doing so well in such harsh times. I can only hope they spent it to help reinflate the economy :p.

I think this will work for some, but not all. It worked for me, and I'm in the "extra activity" catagory that usually gets cut first when looking at financial situations.

My only explanation for this is the fact that you are obviously in a good market and you must have great customer service I assume. Keep up the great work. Congrats!

Re: Preparing for a Recession

Thanks for asking this question,

Actually I think that people will become more and more interested in
creating their own Home Based Business and for example like to
know more about how to build and grow a 'Happy Home Business'

A perfect way to get to know more about it is to have a
visit to http://hpshappyhomebusiness.blogspot.com
Where you can find a lot of info, Daily Marketing Tips
and CASE STUDIES from extremely successful
Internet Marketeers!

All the Best,
To your Happy - Home Based Business Building - Inspiration,
HP

Re: Preparing for a Recession

I agree more people will start a new business out of desparation and then they will quickly move back into the corporate world when they have a chance.

Re: Preparing for a Recession

brandon123;36760 wrote: My only explanation for this is the fact that you are obviously in a good market and you must have great customer service I assume. Keep up the great work. Congrats!

I agree with you brandon123, there are still a lot of businesses which are thriving despite the recession. Even though your in the "extra activity" category there are just some things people won't easily give up. If the person is passionate in something, they would definitely spend some money for it. Although times are hard nowadays, it doesn't necessarily mean you should end all extra activities. It is still important to enjoy life and not dwell on the present problems of life.