How to Use Recession to your Advantage


RecessionIs the “R” word getting too much publicity, lately? It seems “Recession” is all everyone’s talking about, and rightfully so, but it doesn’t have to be “frightfully” so. There are a few ways you can deal with it, turn it around, and use it to your advantage.

Think: Marketing, Publicity, Visibility and Public Relations. Also, if you’re looking to cut costs or (God forbid) “decrease prices” think how it will affect you once the economy turns around (and it will) and then…what happens to you? The truth is that now, more than ever, you really need get off your butt and get out there to promote yourself in more creative ways than you ever thought possible, let alone “comfortable”.

The good news is that you are stretching yourself out of the comfort zone that kept you cozy for way too long, and now makes you more diversified and a step ahead of the competition as you’re thinking bigger and acting better than you ever did before – while your competition, due to hard economic times, may disappear, leaving you to pick-up their shares of your market!

Marketing is about consistency. Be consistent in your marketing techniques and re-evaluate some of your marketing tools that may not be working as effectively as they once did. Perhaps it’s time to do an educational seminar on the benefits of your services and products to keep your clients and business community up to date on what else you’re doing differently to serve them better. After all, success in business is based on building relationships, good, honest, integral “relationships”, so don’t stop building them now just because Mother Fortune does not appear to be smiling upon you today.  In fact, this is the best time to use it to your advantage, as being generous, gracious and genuinely interested in other people’s problems (you are here to solve some of them, aren’t you?) will place you in the spotlight of credibility so that people would want to do business with you, and if not, they’ll want to refer you or partner with you.

Take a good look at the marketing tools you have been using and stick to those that bring you the most business. On the other hand, perhaps your website needs a few tweaks or a mini-face-lift? Do you need to offer some new freebies to allure people to take a closer look at what you have to offer?

Work only on things that matter and eliminate those activities that are not high pay-off for you. Be very mindful of your time, and how much your time is worth to you and to the sustenance, maintenance and growth of your business.

Delegate as much as you can. Outsource if you must! Don’t be afraid to let others do things that are not your greatest paying-off activities. Consider hiring a “Virtual Assistant”.  It will be worth it in the long run!

Why re-invent the wheel? Model yourself after those who are already successful doing what you’re doing. Get a business coach or a mentor to help you. It has the highest return on your time and money, when you invest in yourself!

Let’s turn the word “Recession” into “Wincession” as you enjoy your time to shine, stretch out of the comfort zone, and do bigger and better things for your clients, your community, your family and your lifestyle.

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