10 Ways to Survive the Recession
Posted on March 25th, 2008 by Gabriel HarperMany business owners and entrepreneurs like myself are probably feeling the harsh economy here in the US. Many businesses have been laying workers off, cutting costs at all costs, and seeking dreaded lines of credit just to weather the storm.
I’ve seen many business news clips, blogs and articles lately that offer advice on keeping your business alive during tough times. There is some good advice and some bad advice, and some advice that’s just a waste of time. I decided to try and boil down the top ten recession survival techniques in my book right now.
- Work harder!
- Avoid debt
- Keep your employees
- Focus on your core business
- Delegate tasks wherever you can
- Compete on price
- Cut unnecessary spending
- Seek partnerships
- Make sales oriented product decisions
- Find new ways to monetize
With all of the advice being thrown around in these hard times, I’m shocked at how little I hear #1 being recommended. In tough times, it seems plain and simple that a business owner has the responsibility to put in some overtime (or over-overtime if you’re like most business owners…)
