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The economic hic-cup has been felt on Wall Street, Main Street, your street, and mine. It shook lives, humbled some, and broke others.

Still, there are ways to survive an economic hic-cup, or down-turn.

“I’d like to know.” A few people said.

First, this isn’t the time to give-up. The hic-cup of an economy is dealt with. Yes, I know it’s hard.

Gear your mind up for survival mode. Remind yourself that you will survive, because there’s no other option.

Tack a reminder on your computer, office board, wall, bed-post, bathroom door, slip a piece of paper with the words written on it in your wallet or purse, and don’t forget the desk draw. Have more than one within eye distance around you. When you feel the economic hic-cup refer to the words.

Think beyond today’s economic hic-cup. A better tomorrow will
come. You must believe it, not just say the words.

Follow the networking route. Ask for business. Supply your business
card, information, to people.

Cut costs when possible. It’s pointless to have a piece of equipment
that produces little, but has a high maintenance cost. Replace it.

Any employee who is not contributing toward the organization’s goal is moved, or terminated.

If Abe isn’t doing well in customer service, move him to security. Or,
place him in a department where his skills match the job requirements. If he fails there, the next step is termination,
early retirement.

Long time employees and the T-word, termination, will draw concern.

However, your business survival is at stake. When the economy hic-cups, hard decisions have to be made. Sometimes, employees are terminated. It’s a fact of business life.

Perhaps, when the economy swings up, you’ll hire some former employees back.

Are you over-charged by suppliers? Is it possible to get a better deal? Check out any prospects. Or, see what deals there are some place else.

Contact creditors. Make better, bigger, payments.

The life-line of any business is customers. Get to know them. Find out how he/she found you, your product or service.

“Why?” You asked.

The reason is you want to find out which ads are working. Spend more where people are seeing your ads, and stop spending elsewhere.

Keep your staff informed as the economy hic-cups, throws hard
balls at your business.

Your employees will work harder if they feel apart of your business
survival plan. They will take steps to do what’s best for the business,
and their jobs.

In conclusion, when the economy hic-cups, take common sense
measures. Hold onto the survival attitude, network more, employees not meeting the quota is moved or terminated, and keep everyone updated as to the status of the business, their jobs.

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Tags: small business survival measures, survive an economic down-turn, what do when economy hic-cups