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Tag Archives: Recession

Refuse to Participate in Recessions

by admin on September 26, 2016

Tweet STOP IT! STOP IT! STOP IT! Stop complaining and stop making excuses. So what if the economy sucks? Yes, there is/was a recession. Yes, the housing market plummeted. I know. I get it. I read more news from multiple outlets than I probably should. As an entrepreneur and as a business coach, I don’t ...

Recession Tip: Give Everyone A Raise

by admin on June 06, 2016

Tweet   Make raises one hundred percent commission based, but give everyone a stake in finding new business. Even accounting and IT teams can find clients, so create an upside for them, too.  When everyone in your company has a stake in the outcome and can make more money by bringing in clients or employees, ...

Truth about Strong Companies and Rich Clients

by admin on February 01, 2012

Tweet This rings true even in recessions.  That’s where the old adage ‘cash is king’ in a recessionary market comes from.  Many companies saw the recession coming and moved into cash.  They were waiting for deals. They’ve been waiting for the market to turn. They’re also waiting to buy from you. Sell to them. They’ve ...

Find Money Under Your Company’s 'Pillow' (Graphic Photo)

by admin on October 24, 2011

Tweet You’ve already got lots of products or services, so why not re-brand them or re-market them? For example, I sell leadership DVDs that are used by CEOs and their employees around the world. Once I started selling them as a package of four, DVD sales really took off. ‘The BackPocket Packet’ comprises ninety percent ...

Recession Tip: Watch Your Cash Flow

by admin on September 19, 2011

Tweet Look for all areas you can cut expenses, except advertising and marketing (if you cut those, you will not only see a slowdown, you’ll be causing it).  Really look for waste in your company and start cutting it fast anywhere you can. Cut the people you’ve been wanting to fire but didn’t have the ...

Recession Tip: Hire Sales People

by admin on April 18, 2011

Tweet While all of your competitors complain about the economy, and spend their time reading every article that confirms their fears, go in the opposite direction. When companies start laying people off, the great employees fear for their jobs. If you’re hiring salespeople when everyone is laying them off, the positive buzz that you’re still ...

Spend More On Advertising

by admin on December 20, 2010

Tweet While everyone else is recession minded and shutting down production, you’re going to be planting the seeds for growth. I was working with a client in Berlin who mentioned that they just landed a TV advertising deal where they don’t pay any fixed advertising fees. Instead, they negotiated a revenue–share deal with the TV ...

Recession Tip: Start Stealing – Legally

by admin on October 26, 2010

Tweet During recessions, consumers are extremely cost and service conscious.  Customers will switch from your competitors right now for the smallest discounts or friendly nod in their direction. You can’t go so far as predatory pricing, but in a slowdown, virtually everyone is looking to save a buck.  So target your competitors’ customers and start ...

Recession Tip: Eliminate Competitors

by admin on June 07, 2010

Tweet Ray Kroc grew McDonalds from a few locations to the enormously powerful brand we all know and secretly crave. He had a particularly cut-throat saying about business: “When the competition is drowning, stick a hose in their mouths.” While that sounds brutal, Kroc understood that in a recession competitors leave themselves vulnerable. He knew ...

Refuse to Participate in Recessions

by admin on March 30, 2010

Tweet STOP IT! STOP IT! STOP IT! Stop complaining and stop making excuses. So what if the economy sucks? Yes, there is/was a recession.  Yes, the housing market plummeted.  I know. I get it. I read more news from multiple outlets than I probably should. As an entrepreneur and as a business coach, I don’t ...

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