Real World Tales of Surviving the Recession
Lessons from 206 real entrepreneurs on surviving an economic downturn, from staying visible to offering quality experiences that keep clients coming back.
The Toilet Paper Entrepreneur put a call out to its readership for lessons learned from the latest recession and then published 206 of them.
The overall theme: people will buy what you are selling if it's a quality product.
If you're serious about being an entrepreneur, persistence and patience can get you through tough times with the solutions that work best!
Some business owners had to deal with people being more careful about their money while others accepted that it is now more important than ever to work hard.
It's true that the ups and downs of any business are inevitable. That can make it difficult to know when you're in a "slump" or just experiencing an average week. But there is good news! A great way to keep your finances stable during these times is by using cash instead of credit so you'll be less indebted should we experience another recession down the road.
What's better than having your money set for anything? Having peace-of-mind knowing all will go according to plan — even if things get worse before they get better.
Sean Horrigan of PR Guy has a simple message for you: "the economic slump is not going to last forever. Keep on marketing and stay professional, because there are potential clients out there looking for your services." Your name will stick in people's minds when you show you're ready to take care of business — not hiding away, waiting until it blows over.
Reinforce your company's bones by ensuring you offer your clients a great experience and they will be drawn to choosing your business over others. For instance, Oana Hogrefe of Oana Hogrefe Photography says clients keep choosing her studio because "she offers them an experience with their whole family in mind and a great product."
Mitchell York of Maui Wowi Coffees and Smoothies shares one tip: "stay away from sensationalizing any event during these tough times; recessions happen!"
Infomatix submitted a tip on how to shift your focus from sales and onto growth, it made it all the way up to #38!