It Looks Like Tough Times Are Ahead
The banking crisis is getting worse and it looks like storms in the financial sector will ripple through into the debt laden economies of the USA, the UK and Europe.
While the economies may not go into a recession as defined by economists, it looks like there will be tough times ahead for trading.
This means that it is essential that companies prepare for a recession.
Recession: Fight For Survival Or An Opportunity To Prosper
A recession forces businesses to go through rapid changes which will cause many small businesses to have to fight for survival.
But for some entrepreneurial businesses who have prepared for a recession, these changes create great opportunities to prosper.
As Charles Darwin says:
But for some entrepreneurial businesses who have prepared for a recession, these changes create great opportunities to prosper.
As Charles Darwin says:
"It is not the strongest of the species that survive, nor the most intelligent..."
"...but the one most responsive to change."
How Worried Are You That There Will Be A Recession?
What do you think? Will your country have a recession?
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Preparing For A Recession: Marketing During Tough Times
Guerrilla Marketing, the world's leading brand of small business and marketing advice has responded to this problem.
Jay Conrad Levinson, the Father of Guerrilla Marketing started out in 1983 to help small businesses to improve their marketing. To his amazement he found that all the marketing advice available at the time assumed that you had big bucks to spends on advertising and promotion.
But now 25 years later we have a great array of resources for Guerrilla Marketing, where the books on their own have sold over 15 million copies worldwide.
Jay Conrad Levinson, the Father of Guerrilla Marketing started out in 1983 to help small businesses to improve their marketing. To his amazement he found that all the marketing advice available at the time assumed that you had big bucks to spends on advertising and promotion.
But now 25 years later we have a great array of resources for Guerrilla Marketing, where the books on their own have sold over 15 million copies worldwide.
- Guerrilla Marketing Main Event
- The Guerrilla Marketing Main Event is an 8 Week Intensive Featuring Jay Conrad Levinson and Mitch Meyerson and Six World Class Certified Guerrilla Marketing Coaches.
The good news is that it starts on April 8, 2008.
The bad news is that it may be the only one this year. - Guerrilla Marketing During Tough Times
- Guerrilla Marketing During Tough Times is available as an ebook so you get access to it immediately.
Even better, you have the option to sign up to receive the first two chapters FREE.
There May Be A Recession But You Can Only Cut Costs So Far
Preparing for a recession will force to you to face up to some difficult decisions and you will need to cut costs.
But you can only cut costs so far without damaging the long term viability of your business.
As some of your competitors struggle to survive, their customers will be looking to secure supplies and will want to find the best alternatives.
Some of that business is going to be from price switchers who have been attracted to the struggling firm in one last desperate throw of the dice but other customers value quality and service and know that is the route to lower total costs.
But you can only cut costs so far without damaging the long term viability of your business.
As some of your competitors struggle to survive, their customers will be looking to secure supplies and will want to find the best alternatives.
Some of that business is going to be from price switchers who have been attracted to the struggling firm in one last desperate throw of the dice but other customers value quality and service and know that is the route to lower total costs.
Preparing For The Recession: Useful Articles
Here are links to a few articles to help you to prepare for a recession.
- Common Finance Mistakes
- I identify eight common finance mistakes in this article from the Business Coaching Blog
- Difficult Decisions Made Easier
- In this article from the Business Coaching blog, I introduce you to Brian Tracy's ideas on zero based thinking. It is a great technique for helping you to make those difficult decisions.
- Beer Game - Small Changes Big Effects
- This article from the Business Coaching blog shows how sensitive your profit is to a small change in the main profit drivers. It then looks at the Beer Game simulation which all businesses with stock should understand.
- Ten Top Tips To Survive A Recession
- Ten tips to help you to survive a recession on a personal level
- Recession Proof Your Business
- Article from BusinessWeek to help you to recession proof your business.
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