How To Profit in a Recessionby Kevin Nunley http://DrNunley.com
People all over North America are telling me business is slow. "I can't say there isn't any business," Bob confides. "It's just that it's darned difficult to get sales. I have to work three times as hard just to get a small order."
Even though experts say our economy is still strong, most people agree we're in a recession. Many of us charged up our cards in
90s and don't feel much like buying anything we don't have to have. Others feel a little depressed about
future and just don't want to spend anything to make their lives better or more successful.
Hey, I understand. Hardly anybody feels as adventurous as we did a few years ago in
go-go '90s. But that doesn't mean we should roll up our tent and slink out of town.
THERE'S LOTS OF MONEY TO BE MADE!--even in a recession. Here are several ways to capitalize on
recession and move your business or career forward no matter what.
Start by cutting prices. It's
old law of supply and demand. When there is less demand for what we sell, it's time to drop
price. Emphasize several low cost products or services that will appeal to
thrifty.
I dropped prices recently at my site. I just leveled with people, told them that times were tight and I wanted to make my services available to everyone without putting them into more debt. Customers responded with overwhelming enthusiasm. Sales, which had been slow, suddenly became brisk.
Next, cut costs. If you've been in business any time at all, you have probably accumulated expenses you don't need. I cancelled an extra $40 per month phone line I wasn't using, cut a 10 message autoresponder back to 7 messages, and pulled back on
labor I was paying for. None of
expenses were big in themselves, but when added together they make a nice difference in
bottom line.