1) Keep up the entrepreneurial spirit. Being an entrepreneur has more risks, but also more rewards then traditional big business. Understanding and reacting to business drivers is what small business owners do every day. Big business has a harder time reacting. They tend to hunker down. Small businesses have been the growth engine that has pulled the US Economy out of previous downturns. 16 of the 30 corporations that make up the Dow Jones industrial average got their starts during the recession.
Disney (1923-24 recession)
Hewlett-Packard (Great Depression)
Microsoft (1975 recession)
MTV (1981 recession)
IPOD (2001 recession)
2) Tap into your existing customers for more revenue. Existing clients are the best source for more business. Provide value to them. Be the best you can be. Continue to build your brand and trust with them. E-Newsletters are a great way to show your value and stay top of mind.
Thank you.
Nancy Ploeger-President
Manhattan Chamber of Commerce
1375 Broadway, Third Floor · New York, New York 10018
1 comment:
Do not worry about the recession. Most people don't realize how much money there is out there. During economic times like this, there is more money to be had than ever. Because of the bailouts and economy, lenders are bending over backwards to bail you out too. Believe it or not, there is people getting tons of cheap money nowdays to start businesses, buy homes, pay off debt, and more. Bailout is for YOU
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