How Are You Coping with the Economic Downturn?
March 21, 2008 by Isabel Isidro · 1 Comment
The National Bureau of Economic Research (NBER) is the non profit economic think tank who has the distinction of making the official announcement that we are in a recession. While Martin Feldstein’s group is yet to announce that we are in a recession, signs seem to be pointing that we are in a very bad downturn, if not a recession.
The stock market is going crazy; the gas prices is through the roof; foreclosures are sprouting like mushrooms; consumers are holding off spending, and so on.
The question is: are you and your business prepared for a recession?
Read some tips on how to survive a downturn . Ride out the tough times with these strategies. Recession or no recession, you can also avoid catastrophe in your business and break the chain of mistakes to prevent business disaster . Also learn some proactive measures to bullet-proof your business.
On a personal level, if you are concerned with your retirement savings, be sure to protect your nest egg.
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Isabel Isidro is the co-founder of PowerHomeBiz.com. A mom of three boys, avid vintage postcard collector, frustrated scrapbooker, she also manages Women Home Business and Learning from Big Boys.
During hard economic times it’s wise to focus on the activities, products or services that produce more money for your business.
Also analyze which activities, products or services are less likely to be affected by a recession, or ad new ones your clients can’t be without during difficult times.
There are many products and services geared towards saving money or offering more productivity.
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