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Showing posts with the label 10 Rules for a Business to Survive During Recession

10 Rules for a Business to Survive During Recession

In an economy as tough as this one, you may need to change your business drastically to pull through. Nearly every business has felt an impact from the recession. There has been no escaping. The root causes were universal and had a domino effect. Some small-business owners believe they've seen the bottom and they are surviving -- they are OK and they expect to persevere with modest adjustments. These small-business owners are kidding themselves. The bottom has not been reached, and it will be a long slide until it does. We are in for a five- to 10-year disaster. Defeat the Downturn During such times, it's easy to panic. Panic, which is fear-driven and not based on fact but on emotion, has tremendous power, the power to change the direction of business. But do you want to give in to panic, throw your hands in the air and accept self-destruction, actually accelerating it, becoming a part of the panic, stimulating more? There's an alternative to pan