How to stay in business during a recession

How to Stay in Business During a Recession

Recession. If you read the papers or watch television, it’s everywhere. Bailouts and large scale layoffs have either happened already or are looming on the horizon. As a small business owner, you are probably wondering if there is a way to survive this downturn. Although there are some serious things we have to deal with in the economy, there are things that can be done to keep your business up and running.

Cut utilities

Straight up, something that every business can do is to reduce their energy usage. Be conscious of your energy output. Reduce your energy usage by turning off lights, changing to energy efficient light bulbs, buying energy efficient business machines, and installing good insulating window treatments to reduce overnight heating costs. It can really contribute to the bottom line of not just your business but the environment.

Do what worked when you first started

Once business people start to become successful, it’s not uncommon to stray from what made them successful in the first place. During a recession, it can be easy to get caught up in the panic of doom and gloom. However, if you remember what worked to create revenue when you first started then that can make a huge difference. I remember hearing a story about a Boston business man that had a huge company that generated a lot of income with a lot of employees. He was the president. However, every morning for two hours he would make cold calls to new customers just like the rookies he hired. Why? Because it worked! That’s how he generated revenue when he was small and he HAD to get on the phone every day.

Make the Internet your friend

I know it’s convenient to be able to hire somebody to do all your technology for you, but it’s also a big expense. Learning how to use the Internet to boost up your business during a recession can likely save you some money! I know there are tons of you out there that have a fear of technology. I was no different than you. It can seem like a huge hurdle to simply navigate a website. But there is no need to fear this. You don’t have to be a technology wizard to get benefit from the Internet. There are reputable sites like Linked In that can increase your business connections. Yahoo! Groups has a variety of different groups that can possibly connect your business to new clients. The benefit of these sites is two fold: it will increase your exposure as a business and it’s FREE! Not to mention that you will increase your knowledge of technology by getting on these sites.

These are only three of many things that you can do to make your business get more exposure and survive through the down times in an economy. If you think about being careful with your energy expenditures, sticking to the basics of what worked when you first started your business and getting hooked up with online communities, you may increase your chances of staying afloat through a recession.

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