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How_To_Prosper_As_Times_Get_Bad
| How To Prosper As Times Get Bad
The bad news just won't stop! Every day brings more gloom and
doom headlines about how our once stellar economy is sinking.
Big companies are laying off employees by the tens of thousands.
Stores are cutting back on inventory. Thousands of home-based
businesses are getting scared and giving up.
No question about it, our economy is going through a tough
spell. But not everyone is hurting. Many businesses make big
gains during times like these.
Just check the Fortune 500 for major companies that started in
somebody's garage during the Great Depression, or during the
horrible recessions of the 1970s, or during the downturn of the
early 90s.
Good ideas and hard work flourish no matter what the economy
looks like. Here are three simple ways to help you succeed no
matter what.
1. Cut costs now! Look for little purchases you can do without.
Try to cut down on non-essential services that bill you each
month. Cutting even a few small items can quickly add up to big
savings. You can count those savings as increased profits or
simply more cash flow to help you keep the doors open when sales
are slow.
By the same token, don't do without products and services that
are essential to your success. You don't want to throw the baby
out with the bath water.
You can work an asset harder to make it produce a bigger profit.
I often think we could do without some of the web hosting
services we buy. But then it occurs to me how we can use all
those nice web features to better serve our customers and pull
in more sales. Use use what you have with more intensity and
efficiency.
2. Reduce employees and outsource. I don't mean that you should
fire good people. But resist the temptation to immediately hire
someone new when one of your employees quits. Slower sales
demand less human power. Employees who are motivated by leaner
times may be able to take on more work than they did before.
Look for ways you can send some of your work to freelancers.
With many companies laying off skilled people, there is no
shortage of experts who are willing to help you by the job or
hour. Your small business can indirectly benefit from the
training larger companies spent billions on.
3. Concentrate on your core and jettison the rest. Every
business or professional has key products and services that are
their main moneymakers. Look for ways you can emphasize your
bread winners.
Get rid of tasks that don't make you money. If you can't see it
turning a profit in the near future, don't let the expense drag
you down.
Finally, don't believe all the hype you hear. The media love to
take a bad story and make it sound worse. If they get some
information that business is struggling, they do what they can
to make it sound like an unmitigated disaster. Of course, we
can't lay all the blame on news organizations. These are the
kinds of stories the public likes.
The reality of the situation is things are never as bad as they
sound. No matter how tough things get, there are always
opportunities. You can keep your dream alive if you continue to
believe and persevere.
Did you hear the true story about the guy who made a fortune
selling rugs on the Afghan border? That is probably the most
desolate and troubled place in the world. If he can succeed
there, I have no question you and I can do well wherever we are.
About the author:
Lisa Lake has created a list of top ways to promote your
business or career. See her http://MyAdBlaster.com Lisa also
writes ad copy that sells for DrNunley's
http://InternetWriters.com Reach her at
mailto:lisa@myadblaster.com or 801-328-9006.
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