Small Business Help And Training




What To Do In A Recession

Advice given by one of the internets lead marketing experts on what to do in a recession.

Expand!

There's no denying that there's a lot of uncertainty among business owners when it comes to the economy.

Uncertainty breeds fear, and fear can lead to some pretty bad decision-making.

It's a natural reaction - when we fear for a potentially rocky road up ahead, we tend to batten down the hatches and start cutting costs and expenses in our businesses.

In a lot of cases, that's a wise thing to do.

But I want to put a *warning* out there, to prevent you all from missing out on one of the great opportunities a recession can present.

That's right. I said "opportunities" and "recession" in the same sentence!

Yes! Take precautions in your business so you can weather whatever the downturn in the economy throws your way, but DON'T CLOSE YOUR EYES to opportunities that will begin cropping up all around you.

Keep an eye on your competitors. Keep an eye on other niche markets that you know to be successful that you've thought of getting into.

See, everyone else is going to be tightening their belts too, and often, panic can lead to people being *overly* conservative when they cut back.

This means that your competitors can be leaving *huge* advertising opportunities for you. If they cut their PPC budgets, they could actually be cutting costs for YOU as their bids go down. If your competitors cut back on link building and article marketing, it leaves a void that you can *easily* step into.

And advertising opportunities are just one thing that can make an uncertain business environment advantageous.

It can also be a good time to snap up market share from the competition. For example, some businesses are going to cut back on development and slow down the release of new products.

If that particular market's consumers are still in a buying mode, you can market your own products and new releases almost in a vacuum.

Sure, there may be less people buying during a recession, but they are *still buying* and if you're the only one *selling* - you see what I'm getting

at?

Then, when things get *better* (as they inevitably will), you can actually end up in a superior position than your competition because you've been busy snatching up their formerly loyal customers. You can come out of the other side of a period of economic turmoil even *stronger* than before.

Also, I mentioned keeping an eye on other markets you can expand into. Personally, I always have an eye out for other profitable markets I might want to get into, and as part of that research, I know who the major players are.

Look at what those guys are doing too. It could be that a niche that wasn't going to be profitable might take a turn and suddenly become not only *viable* but *profitable* in times like these.

Now don't get me wrong - be cautious. It's YOUR business and only YOU know the particulars, so do what you need to do to keep in the black.

But don't let worry blind you from seeing opportunities to get a leg up over more timid competitors. If they're giving up ground, step up and claim it!

See, worry is just wasted energy. If you have a concern about your business, just DO what you need to do to address that worry. Then, go *right back* to doing your job as CEO or owner and GROW the business. Expand, enter new markets, prosper and most of all PROFIT!

The author of this article wrote the book Online Store Profits

 

How To Expand Safely In A Recession

One way to expand in a recession is to create a mini-business group. A Small Business Plan For A Mini Business

You use the free Amazon affiliate program as the drop ship supplier for targeted mini-businesses that you set up free using the free Amazon store builder program.

You start by setting a goal of earning $10 per day from each mini business site that you set up.

Setting up one mini business site takes less than two hours. The cost is your cost of hosting, generally less than $6.95 per month plus $9.99 for a targeted domain name. (Your second site and any subsequent site should cost only $9.99, the cost of the domain name. The hosting will be at no extra cost.)

Put the site online and promote with a blog, on craigslist, eBay and YouTube.

Putting up 10 sites should take you about 20 hours plus promotion time.

If you have 10 sites at $10 per day, you have $100 per day or about $3000 per month.

All that you have to do is to occasionally spend a little time with promotion.

How to set up an Amazon mini-business site is on video at Setting Up An Amazon Mini-Business