The NMP Network

The first step to survive a recession is attitude. The thought of I will survive should play-over in your mind.

Write the words down on paper. Place them on your night-stand,
computer, clock, and where you can easily see the words. Look
at them when the recession knocks on your business door.

Customers are the life-line of your business. You’d like to
keep all of your customers, but the survival of your business
stops you.

People who have problems paying, let them go. They will sink you, and your business. Don’t let a customer’s over-do balance go anywhere near thirty days. You can’t afford it if your business is to survive the recession. It is impossible to have customers sixty, ninety, days due, and survive. Your business will be engulfed by the recession.

Pay attention to your costs. I’m referring to every cent you are
spending on paper clips, for example. Paper clips can be used over and over. Don’t throw them away after one use. Look at the amount of paper cups, paper towels, used. Do you need to buy paper cups? Cut back where you can. You’ll be amazed at how cutting back adds up to big savings.

There is an aspect of your business that shouldn’t be cut during a
recession.

“You just said cut back.” A few reminded me.

Yes, I did. During a recession, people buy. In order for them to know about your product or service, advertising is a must. Keep your ad going. Only, advertise where people are seeing it.

“How do I know where people are seeing my ad?”

Ask them.

If possible, advertise more. Remember, customers are the life-line of a business, recession or not. The survival of your business depends on people, customers.

Keep employees aware of your business circumstances, their jobs.
They will appreciate it, and work harder.

In closing, survive a recession by keeping a positive attitude, let problem customers go, be mindful of costs, advertise, and advise employees of the business situation, their jobs.

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Tags: Advertising, costs, customers, steps to survive recession