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Tips to Recession-Proof your Business
- Don’t panic
- Marketing is a must to break through the clutter and keep your name out there.
- Keep running ads, do PR, e-mail blasts, etc.
- Keep staff lean and professional, but continue to interview so you can ramp up quickly if need be
- Cross train employees
- Have fun brainstorming sessions – snack sessions, lunch ‘n learns to keep morale high
- Find a way to distinguish your services – faster turnaround, more creative, better results
- Tier your services so clients are able to buy tactics that best fit their budget and promotional needs
- Always scout for new services to keep your company at the forefront of your industry
- Travel to see clients in person
- You never know when you might meet a prospective clients, so always be prepared with business cards and a quick pitch about you business
- Go to networking events
- Get more bids from vendors/look for less expensive vendors
- Ask vendors to refer business to you
- Make sure you’re paid on time to keep cash flow even
- Look for opportunities with Recession-Proof sectors such as healthcare, food & beverage and some consumer products
- Don’t get discouraged
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