There’s been a lot of debate about this whole recession and I’m wondering how bad it really is for business owners.

Now, I know businesses are out to make money (duh), but businesses should also be efficient, from top to bottom. And we all know that isn’t always the case when times are good and you’re rolling in money.

A recession gives business owners a chance to re-evaluate and improve those business models. It’s an opportunity to really figure out what worked and didn’t work during the last busy period, making void ineffective processes.

A recession forces business owners to put themselves out there more, market their product better and build relationships with new clients.

And when the economy does get up and running again, businesses should be well-equipped to flourish and, once again, roll in the dough.

Am I wrong?

Steve,

I think you are right on.  Slow times should be used to focus the business.  A natural ‘weeding out’ will occur, which should result in increased market share when prospects pick up for those organizations who have refocused and improved.

Steve,

you got it.

Agreed.  In some ways, small companies have a big advantage when times are tough.  By keeping eyes open and thoughts positive we can turn on a dime & make things happen in any market.  This is the best time to streamline processes, re-evaluate costs, ramp-up marketing and innovate while the competition is panicking!!

I think that a down market never effects the high end marked.

That really depends. Who’s your customer? If they can barely afford the Luxury - It’s going to affect you. If it’s discretionary income they spend ... market up or down is barely touching it.

In advertising ... in a down market you work with customers that need to stimulate their growth, and in an up market ... your customers are the ones that want to have a larger share of the pie.

I chose not to participate in the recession.  It’s affecting my clients, I’m not gonna let it affect me too.
Next thing I know I will be talking them out of buying.