How,Prosper,Times,Get,Bad,The, business, insurance How To Prosper As Times Get Bad
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The bad news just won't stop! Every day brings more gloom anddoom headlines about how our once stellar economy is sinking.Big companies are laying off employees by the tens of thousands.Stores are cutting back on inventory. Thousands of home-basedbusinesses are getting scared and giving up.No question about it, our economy is going through a tough spell.But not everyone is hurting. Many businesses make big gainsduring times like these.Just check the Fortune 500 for major companies that started insomebody's garage during the Great Depression, or during thehorrible recessions of the 1970s, or during the downturn of theearly 90s.Good ideas and hard work flourish no matter what the economylooks like. Here are three simple ways to help you succeed nomatter what.1. Cut costs now! Look for little purchases you can do without.Try to cut down on non-essential services that bill you eachmonth. Cutting even a few small items can quickly add up to bigsavings. You can count those savings as increased profits orsimply more cash flow to help you keep the doors open when salesare slow.By the same token, don't do without products and services thatare essential to your success. You don't want to throw the babyout with the bath water.You can work an asset harder to make it produce a bigger profit.I often think we could do without some of the web hostingservices we buy. But then it occurs to me how we can use allthose nice web features to better serve our customers and pull inmore sales. Use use what you have with more intensity andefficiency.2. Reduce employees and outsource. I don't mean that you shouldfire good people. But resist the temptation to immediately hiresomeone new when one of your employees quits. Slower salesdemand less human power. Employees who are motivated by leanertimes may be able to take on more work than they did before.Look for ways you can send some of your work to freelancers.With many companies laying off skilled people, there is noshortage of experts who are willing to help you by the job orhour. Your small business can indirectly benefit from thetraining larger companies spent billions on.3. Concentrate on your core and jettison the rest. Everybusiness or professional has key products and services that aretheir main moneymakers. Look for ways you can emphasize yourbread winners.Get rid of tasks that don't make you money. If you can't see itturning a profit in the near future, don't let the expense dragyou down.Finally, don't believe all the hype you hear. The media love totake a bad story and make it sound worse. If they get someinformation that business is struggling, they do what they can tomake it sound like an unmitigated disaster. Of course, we can'tlay all the blame on news organizations. These are the kinds ofstories the public likes.The reality of the situation is things are never as bad as theysound. No matter how tough things get, there are alwaysopportunities. You can keep your dream alive if you continue tobelieve and persevere.Did you hear the true story about the guy who made a fortuneselling rugs on the Afghan border? That is probably the mostdesolate and troubled place in the world. If he can succeedthere, I have no question you and I can do well wherever we are.
How,Prosper,Times,Get,Bad,The,