I am a fairly new consultant and have only worked in years of ecomonic growth. I was wondering for those of you with more experience, in a recession should we expect more business or less. It seems I could argue both ways - what has been your experience?
Re: Recession Proof?
It really depends on the focus of your practice. If you business focuses on implementing a CRM known for its ability to track sales - probably not good. If your firm focuses on cost cutting - probably good.
Re: Recession Proof?
I think in general you have to look at it in two ways. In a recession, more people try to go out on their own at least temporarily until they find another job so there is more competition. However, companies tend not to hire full time staff in a recession so there are more opportunities to pick up projects that would of normally been done by internal staff
Re: Recession Proof?
Dgrowth;32204 wrote: I think in general you have to look at it in two ways. In a recession, more people try to go out on their own at least temporarily until they find another job so there is more competition. However, companies tend not to hire full time staff in a recession so there are more opportunities to pick up projects that would of normally been done by internal staff
We have found that the latter is generally the case with us - you just have to make sure you are going to be getting paid - you never know in difficult times.
Re: Recession Proof?
Thanks for all of your comments lets just hope we do not have a recession - or maybe we should hope for that:)