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downturn Tagged Articles

Dealing with the Current Downturn
The current economic times are challanging, but we cannot "throw up our hands" and just react. We need to take smart, measured actions.

Are there any businesses that are recession-proof?

There are probably many businesses that are recession-proof, but things might be different in the present down-turn as things might get tougher with falling property prices, rising unemployment and so on. If you are looking for a business that is recession-proof try typing the term "recession-proof business" in the upper left box and then choose from the hits there. This search will turn up sites giving you their wisdom on top tips to survive a recession along with other blogs and websites telling you which businesses are most likely to survive during a recession. I will leave it to you to decide on which of these writers know their stuff. However, if you hit on something that looks like the type of business you would like to buy or even set up yourself, then do a bit more research on that type of business.

New Year's Resolution: Survive the Economic Fallout

Times are tough for some folks…Everyone is being affected by the now historic economic upheaval in a different way. While some acknowledge a definite impact on their business operations, others don't seem to be impacted that much at all. It's this diverse reaction to the downturn which will probably be good for all of us in the long run. Unfortunately, the messages of hope are not as interesting to report about in the news and everywhere we turn we hear negative reports about the economy, unemployment, foreclosures, and the list goes on. It's time to think postive and make some changes for ourselves and our business...

Selling in a Downturn

Seven Solutions - 120 words - 30 seconds: Get proof that your stuff does what you promise. Verifiable evidence convinces ahead of sales skills. Find prospects less affected by the downturn. Some are shrinking less or still growing. Use evidence and proof to develop better messaging and multiple messages. Cast better seeds on more fertile ground. Present better messages to more qualified prospects. Thrive on a small improvements. Vary your approach – phone, voicemail, email, letter, post card, introduction, or fax. Like advertising, effective sales prospecting depends on repetition and persistence. Have the customer quantify the cost of inaction. It is a brave manager who spends money in a downturn without a concrete business case. Training works. Attend or study a top sales course for new ideas. Full article >

Using Google Adwords To Drive Laser Targeted Traffic

The biggest well known secret in generating wealth in the internet based business or e-commerce is Traffic. Everybody knows it; every site wants it and every site needs it. The point of websites is to be visited and viewed. Many elaborate designs, money and countless hours of developing a site to make them beautiful and attractive are utilized. Without traffic, it is for naught. With traffic comes a potential customer which basically means sales which in turn means profit. While many sites have collapsed in the past with the downturn of many internet based business, many smaller sites have generated good money by concentrating on a certain niche and some subniches.wealthdevelopments.com

Mortgage Interest Rates In Canada – Fixed Versus Adjustable Rates

The rates of interest on mortgages in Canada are directly related to the rate of interest of bonds released by the Bank of Canada. In the recent downturn of the global markets, the rates of interest did go low in the real estate market in Canada. However, it is expected by the financial as well as the real estate experts that the rates may push up in the near future. This, however, should not worry you much as there are various options available to suit your needs.

Larry Ellison Quotes
Larry Ellison Quotes

Celebrate Your Victories
Q109 is over. The numbers are starting to roll in. After all the gloom and doom at the end of 2008, I’m very pleased with the performance of most of the companies in our portfolio. As I mentioned the other day, some struggled, but many met or exceeded their Q109 plans, and several of them destroyed them (sandbaggers, how I love thee.)

Branding in a Troubled Economy

Branding in a Troubled Economy A good business brand is one that can withstand an ailing economy. In today's times wherein majority of the world is suffering from financial crisis, small- to big-time businesses are feeling the impact of this downturn. This is when your branding campaign will be put to the test. Indeed, when businesses are competing for what remains of the market, you have to double your efforts at making the brand enable your business to thrive. What is also essential in these times is to never discount the impact of quality and improving value statements. These are important factors that hold promise to deliver more to the clients and keep your business afloat.

WHEN ECONOMY GETS TOUGH, PR GETS GOING
Getting a message out through PR is a lot more cost effective brand building than advertising, but sometimes it takes a recession to prove it. Today PR firms are out maneuvering, out-gunning ad agencies by doing more for less.

New Consumer, New Tools Equals New Normal

The 2010 holiday season is proving that the new consumer is in the house. He/she is more empowered than ever. They have a new set of tools, know how to use them and ...they are! The same old way of talking to, pushing product to the consumer is just that -- OLD! Consumers know you can track their activities. They don't mind as long as they get something in return. More importantly they know how to track you. They know almost immediately when they get the product, the service, the support they want/expect. Don't deliver, there is **** to pay! But that's OK because you're also a consumer. Now's the time to change the way we think about, work with consumers...

Social media builds business, creates a trusted community
Social media networks can help build your business, but they also provide you with a trusted community of people with whom you can share the details of your life. They are the "community newspapers" of our time.

Points to consider for International Franchise Expansion
Expanding an already successful franchise overseas can be a great way to develop an already successful national franchise. However, careful consideration must be given to ensure your franchise is ready and prepared for unfamiliar markets.

What are the Upsides of This Major Downturn?

Well, we've all heard plenty about the major down turn that we're in the midst of. The news media is having a real hay day with it all. Unemployment continues to rise, home foreclosures are everywhere, and no one seems to know quite what to do about it all. But let's take a step back and look at this from a different perspective. Let's say for the moment that we live in a universe where there are no accidents. I know that can be a bit of a challenge in its own right, especially when it looks like there's been a major accident on the universal freeway, but I don't think so. I think it's more likely that we've been paid a visit from the Universal UPS Truck.

The Shapes That Model Retail

There has been a tremendous amount of discussion by economists and government experts in regard to the type of recession we are in, as well as the possible ways we could come out of it. There are varied opinions and speculation as to where things go from here. This is pretty clearly demonstrated in the different models, or 'shapes', that the recovery might take, which have come to be characterized by various letters of the alphabet. Although Economists may track and analyze a number of economic issues and trends that would also impact retailers, it is from an aggregate level. So the question is, what will the economic recovery look like at a place where all the trends come together at once - such as in your own company’s financials?

What is the Advantage of Being an MBA?
The importance of MBA degree lies in the fact that it is the confirmed ticket to the corporate world. Many more aspirants are taking new and advanced courses in MBA to accelerate their career growth so that they inculcate the much needed management expertise and business acumen. A mere mention of an MBA rank adds value and weight to one’s resume which gives an edge over others.

"We Eat Our own Cooking"!
Warren Buffet : Ownership Principle No. 2 “We eat our own cooking!” is an article discussing the importance of integrity, honesty, and careful and consistent work in all business related matters and life as seen across a wide cross section of fields in the world.

How to Win in the Recession
Tips for winning in retail during the downturn

Recession-Busting Small Business ((inexpensive) Marketing Tips
A struggling economy offers those that move forward a greater opportunity to reach their market, precisely because their competitors are hiding their heads in the sand. Studies have shown that those that do market in a recession are those that prosper and position their businesses to thrive during the eventual turn-around.

Coping with Uncertain Times
Hints and tips to help you weather the current economic crises or any unexpected financial downturn.

Is it the Right Time To Start a Business?
There are both aspects of a downturn, the good and the bad for entrepreneurs. However, it brings along with it loads of opportunities for them. Your success does not depend on the oppurtunities you grab, but on the ones that you let go. A smart entreprenuer has the vision to analyze on ways to effectively capitalize the oppurtuinty which is served in his platter.

'Why it pays to reward your customers'
Over the last 10 years, I have learned many lessons managing my own companies and consulting to my clients and by far the single most vital lesson is ensuring that customers stay happy. In this article I share my thoughts about this essential topic.

Nothing Lasts Forever
When we embrace change, we embrace our potential. We eagerly step into exciting new opportunities and challenges, stretch to learn new things, try new approaches and expand our horizons. With each change we get better, and better again.

Count your chickens

Everyone I am speaking to, at least, are aware they are working in a softening market. Some businesses of course are counter cyclical, meaning they can make money in these tougher times i.e. outplacement firms for all the obvious reasons, but they are more the exception. If you market is softer or heading or a down turn it doesn't have to be all gloom and doom. It's true now you have to earn your real money through proactive sales practices. So with on the agenda, one of my clients in regional Australia kindly sent me a great article on "The three basic sales strategies in a softening market".

Surviving the downturn and coming out of it stronger

Surviving the downturn and coming out of it stronger I discussed in another about being trapped in your business and ways you can approach that issue. This was in response to my bell weather phone calls to businesses in June where some businesses were expressing concerns about business prospects. I am sure there are no doubters now with the various news stories or “Recession Porn” as I heard Tom Vose of National Australian Bank call it “We know it’s awful and it makes us feel bad but we cannot help reading it!”

HOLDING ONTO YOUR IDENTITY IN FINANCIAL CRISIS
In my speaking engagements lately, I’ve been talking to people about how to separate emotion from their finances entirely, and especially how to let go of the negative emotions - shame, fear, anxiety, blame and stress - that often come with debt.

The Problem With Plans
You'd change course rather than fly into a thunderstorm, wouldn't you? Even if that storm wasn't in your flight plan? Markets change, customers change, people change - plans should change too.

Economic Challenges Haven’t Shaken the Fitness Industry: Personal Training Franchise Offers Prospective Business Owners an Upscale, Proven Business Model

During a rough period in our country’s economy, it’s hard to find a business that hasn’t been affected by the consumer trend of spending less, but one brand in the massive fitness and wellness industry has seen positive growth and brand loyalty. One2One BodyScapes, a Massachusetts-based personal training franchise has seen an increase in personal training sales for the first quarter of 2009, up 9% over the fourth quarter of last year. In April 2009, the franchise measured an even larger, 17% cumulative increase in sales over the month before.

How to Manage Work/Life Stress
Work life balance is a high priority for everyone but it has become a jargon term that doesn't express what people really want. Now the huge job losses following the financial crisis have meant the idea of work life balance is even less meaningful. People are working even longer hours and prolonged excessive stress. There is, however, a better way.

Entrepreneurs must Regain Control and Balance in their Life

With the ever-increasing pressures we face in all dimensions of our lives – work, family and social – it is becoming harder than ever to get everything done. But, it is possible to regain a sense of control and balance in our lives if we learn to manage our time more effectively. When situations seem impossible things can become possible. Stress seems to affect everyone in different ways. Time is of the essence in creating a sense of balance in your life. The more you learn how to manage your time more effectively, the less stressed you will feel and you will realise how much more you are achieving.

The Wealth Mindset: How to Profit when the Economy is Down
When the economy shifts our natural tendency is to respond with fear and anxiety. We think that an economic down turn means profits will drop, jobs will be lost and times will be tough. But there are those who profit during a recession. Learn how to profit when the economy is down when you have the wealth mindset.

Pricing strategies
Price is always important, and perhaps even more so during a downturn. How should retailers adjust their pricing to get and keep customers?

(Guest Post) Optimizing Value in the Economic Downturn [and Recovery]

This article is the second in a three-part series of guest articles on optimization by Dr. Olga Raskina, Lead Scientist, with Emptoris, the supply and contract management solutions provider. As we push on through the troubled economic environment, corporate leaders are laser focused on bringing supply chain management under tighter financial guidelines. An article I recently read in Supply Chain Digest highlighted the typical urgency felt by procurement managers to cut supply chain costs.

A Business Plan for Hard Times
Carol Aitken tells how she prepared for the inevitable downturn in a business.

Downsizing with dignity
"You're fired!", Donald Trump's once popular catch phrase has become a living reality as our country enters the most difficult time we have experienced in decades. Company financials are hemorrhaging, prompting decisions by managers to slash expenses and reduce headcount by downsizing, right-sizing or in simple terms just cutting staff.

Newspaper problems doesn't limit value of public relations

While the closing, altering and economic struggles of newspapers is an ominous sign for the media, it puts public relations in a difficult situation. To whom do we pitch? In this article, veteran PR professional Michael Kleiner opines that this doesn't have to be the case and there is still value in and need for public relations. We must harness skills to pitch in the Internet and technological age. In fact public relations may be in a better situation than advertising to do this.

The Integration of Innovation and Marketing Best Practices for Business Excellence Part1

During an economic down turn marketing and particularly funds for innovation and growth are amongst those hardest hit. As new, profitable innovations are owned by marketing, whilst their financing comes from the ability for the current business to generate profits, there is an intimate link between marketing and innovation. Considering current business and innovation as distinct silos, managed in different ways by separate functions, may mean that the organization is missing a significant opportunity to maximize the skills, knowledge, resources and networks of the organization. Innovation Expert, Kevin Weir and Marketing Excellence Practitioner, Phil Allen explore how companies can keep their marketing and innovation machines turning even in tough times by taking a more integrated approach to innovation and marketing.

Choose Your View

Our experiences are much less important than how we choose to think about them. The way we interpret our experiences shapes our beliefs about the past. Furthermore, our interpretations either limit or enable our future success. For example, a mission-critical project you are leading has “promotion” written all over it, but it bombs – it’s over budget, past its deadline… the works. How you choose to interpret those facts is where you can shape your future. Are you a failure, a poor leader who is maxed out and on her way out? Or, are you a great leader in the making who is learning some tough lessons that will help ensure success on the next project when your true colors will show? Facts are facts, but the view you take is your choice.

Thriving Through the Downturn Eleven Strategies That Will Make Your Company Boom

Every day we hear doom and gloom in the markets and the media. “The sky is falling” appears to be the refrain repeated around the world. Entrepreneurs, business owners, and their senior executive teams could easily succumb to the fear factor generated by all this coverage of market changes. Market corrections can be a superb time for companies to take advantage of incredible opportunities to not just thrive, but to grow and succeed beyond their wildest dreams. David J. Greer surveyed over two hundred entrepreneurs with experience in downturns to discover the best ways to manage through the current business cycle. In this article, he provides eleven strategies that you can use today to make your company successful, not despite the current market conditions, but because of them.

Recruiting Top Sales Pros is now HARDER, not easier
Businesses need to take a step back and consider all the factors before embarking on a course of action. What might seem obvious at first rarely is. Top 5% sales performers can deliver huge ROI. A little investment in one now could be one of the very best ways of combating the downturn

Vendor Relationships
Leveraging your vendors can be a powerful way to help you compete with products, services, and financing.

Selling in Bad Economic Times!

When the economy goes bad, it is easy for sales people to blame their lack of results on this, and I would not pretend that it is possible for every company to make their planned sales targets when this happens. However, after working with many sales organizations in 5 countries, and as a result of a survey of some 4,000 sales people, I found some very simple opportunities for improved sales effectiveness, which, if identified and seized, can produce some amazing increases in results even in tough times. Its just a matter of focus and discipline; things many sales people are averse to!

Upbeat thinking in a Downturn Economy
History tells us great companies are made during recessions. But where do you start? How do you lead your battered troops on a new ambitious campaign?

Techniques to increase the effectiveness of your promotional marketing during a period of economic downturn

The prospect of a downturn in the economy can have a major impact on business. With Australia having such close ties to the U.S. market many businesses have gone into panic mode due to the financial crisis currently affecting the U.S. economy. Whenever there are changes in the U.S. markets, people assume that it will have an impact on the Australian market as well and more often than not, it does. Many companies try to prepare the company for a slow-down in sales and the number one direction taken is to cut-costs. Unfortunately the general trend seems to be that the Marketing department are the first to have budgets slashed. While there may be some merit in this strategy of cost-cutting what if we look at the other end of the spectrum which involves being proactive to counteract the negative effects of the market drop.

Inventory Targeting/Modifications
You can modify your inventory offerings without altering the flavor of your store to better serve your customers in a recession.

Staffing in Tough Times
Obviously budgets are tight and potentially getting tighter, but where and how do you trim budgets without negatively affecting your retail performance? We take a look at various facets of staffing and how to address them in a downturn.

Looking For Work? Check Out These New Work From Home Business Opportunities
With unemployment rates skyrocketing in many states, many Americans, now out of work, are looking for anything to help aid them in the job search. The search may be over if a work from home business sounds good to you. Here's a few of the best options available today and a look into the best ways to get started.

The Man Who Sold Hot Dogs
One of my favorite tales and rather timely, enjoy.

The Contingent Workforce -Redefining Opportunity
Grim employment statistics may point the way for many would-be entrepreneurs to take control of their work life. Alternative work options can be a win for employers and workers willing to take responsibility for their income potential.

Alternatives to redundancies have benefits

The overall cost with redundancies is far more than just the initial redundancy pay an employee receives. You will need to add costs for the recruitment when you require staff again and the cost of training new recruits to have them reach the development stage your redundant staff were at prior to being made redundant. How do you place a cost on this? Then there are the negatives that come from any business making redundancies which includes low morale within the workforce which inevitably reduces production, performance and service. Good quality staff can leave for alternative employment due to the uncertainty which may happen after you have reduced to the number of staff you felt appropriate as they have been offered employment from interviews taken during the redundancy process. What is the cost of this?

Replace ‘wait and see’ with ‘go and do’
Increase sales and gain market share during a downturn slower economy

Business in 2009 - Do you really need to be a Fortune Teller
No know really knows how the overall economic climate will play out over the coming months and possibly years. What we can say is that individual businesses will be defined by the decisions they make and the actions that they take.

Surviving a Down Economy: Failure is Not an Option
Every company must take a serious look at their operations and decide if they need to make serious and deeply painful cuts or if their best strategy is to make minor adjustments and simply push forward. Either way, every company owner or president must move forward and lead with a certain conviction and strength of will. That conviction must be felt by every manager and employee in the company.

Downturn Can-do: Think Upturn Prospects
Talking to salespeople, there seems to me to be an air of futility about at the moment, about prospecting for new customers and new business. While It may be easy to find reasons to be despondent, allowing yourself to feel and behave in this way, what ever the evidence is actually counter productive.

The Art of Social Marketing: Is It Right For Your Business?
When the economy takes a downturn, small business owners look to in-person networking to keep cash flow moving in their business. What most business owners don't realize is there may be a simpler way. Would it be beneficial to grow your local business with social networking and web 2.0 ?

2009 - A Year of Realignment, Reassessment, Repositioning

But people in the business/consumer computer/entertainment/communications industry have never been short on optomism or ideas. Looking up from what is near the bottom of the valley it is fairly obvious that it will be a long, hard trek back up to the top of the hill. Some firms won't survive by this time next year. Those that focus on developing a strong consumer centric strategy and lead/listen to the marketplace will be light years ahead of the competition when we enter 2010. What's it going to take? What will the the leaders do? We've got a pretty good idea...hope you agree. We know most have what it takes to survive and prosper!

Small Business Opportunities In The Medical Industry

The medical industry has always been one of the most reliable businesses in the face of economic downturn, and when you consider that millions of baby boomers are approaching senior citizen age and will require more healthcare services than ever before, this industry is one of the hottest available markets to get into and this article shows some of the top opportunities available in the healthcare industry.

Strategic Planning for Contractors and Developers in Difficult Times
Advice to construction and development businesses: Prepare a strategic business plan showing a 30% or more decrease in revenue. Preparing this version will force you to conserve cash by cutting all the fat and some bone from your operations.

Keeping Your Employees Focused in an Uncertain Economy
In these tough times it's becoming more and more difficult to keep employees focused and motivated. This article gives business owners a few tips on how to keep employees motivated and focused in these tough economic times.

57% of Layoffs Occur in Middle Age
Just when you're least able to cope with upsets in your life, when you're reevaluating everything, your career gets upended. It's all part of how the midlife game is played.

9 Hottest Real Estate Small Business Franchise Opportunities
As the housing market begins to rise once again, real estate franchises, providing everything from home inspections to SMS-based advertising, have a real potential to earn great money and generate the success that everyone looks for when starting a new business.

What If I Get Sick?
Why do guys fear midlife? The chances of anything bad happening to you at midlife aren't that much greater than them happening tomorrow.

Staying motivated in August
Staying motivated is a simple process, but by no means easy.

Selling Through the Tough Times
In this tips-oriented piece, Rick Davis, president of Strategic Sales in the Building Industry, explains how to rise to the situation and sell through tough times.

Profile of Jeanette Forbes, leading woman in a man's world

What would you do if after two years of trading your company found it had a £179,000 bad debt? For most people it would spell disaster and they would probably close the company, but not Jeanette Forbes. She overcame this challenge and has since continued to build a success business as a total ICT provider to the Oil and Gas industry - traditionally a male dominated environment. Read more about how she started up and grew the company.

Fun Recession Activities!
What? Having fun with an impending recession on the way? Why not? I’ve survived recessions before and so have you!...

Strategies to Recession Proof Your Business
Every small business needs to take a hard look at the status of their business now to make sure it can withstand an economic downturn. The secret is to have your Plan address spots where you may be vulnerable. Prevention definitely beats fixing things after they become difficult to turn around.

How to avoid Employment Litigation Risks when Terminating or Firing Employees
Every business needs to terminate or fire employees at work . The recent downturn has witnessed a large amount of termination and subsequent litigations. Every organization is on risk when employee is terminated. How to minimize this risk?

Africa needs a technology bubble

According to the WSJ, silicon valley is on the brink of another technology bubble bust like what was witnessed in 1999. According to the article the emergence of "strange" website names such as Orgoo and businesses whose sole purpose is to sell t-shirts bearing the logos of internet companies(check out Startup Schwag) is evidence of a bubble and its eminent bust. I cannot even pretend to understand the dynamics of silicon valley, so I won't even argue with the writer of the article, but I'm left wondering when will Africa expereience it's own technology bubble?

Restaurant Marketing In A Downturn
My last post dealt with an very broad approach to your business overall during a downturn.

Top 10 Wisdoms from Wise Men and Women
How to Survive and Thrive in Business and Life Downturn This article captures 10 Wisdoms from Experts in Business, Creativity and Education. Are you experiencing a business or life downturn? Learn to Survive and Thrive with these Wise Words:

Why Companies Go Bust – 10 Tips To Rescue It
More companies are going bust in this economic downturn. You need to read this before you become one of them.

Hidden Opportunities in Economic Downturns
Despite the economic conditions, or more appropriately because of the economic downturn, now is the time to seize the advantage. It may sound counter-intuitive, but a downturn opens up rare opportunities to outmaneuver rivals. Many companies simply fail to see the opportunities hidden in economic downturns.

How To Maximise Your Marketing In A Recession
Since 2007 the world has seen a significant economic downturn that resulted in a worldwide recession. Whilst many countries are currently in recovery, evidence suggests that the downturn is a long way from over. Marketers will have to fight hard to hang onto their budget and this article suggests ways to make the most of your marketing in a recession.

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