Whether or not we are technically in a recession is for the economists to decide. But, for most of us business is down. This is a call to action for us to do things differently than last year.

While I don’t have a magic wand, here are some commons sense things to do in tough times:

• Spend more time talking to your customers and less time listening to the pundits–they are wrong most of the time anyway.

• Reconsider your outsourced services; instead, do it yourself or do without.

• Manage accounts receivable daily since cash is king. Once you get it hoard it.

• This is not a market for price increases since they be the straw that breaks the camel’s back with some customers. Instead, try making your offering better or more valuable.

• Invest in web marketing tools and reduce off-line marketing costs. Cut your yellow pages and consider pay-per-click advertising.

• Be visible at community, industry, and philanthropic events. Make noise.

• Hand written note cards are a relic of a kinder and gentler past—send them to customers after meetings and projects. You will get noticed.

• Do a telephone blitz to customers and prospects. Leave phone messages that say you are thinking about them. Let them know you care.

• This is the time for face-to-face visits with customers. Get out the office and have coffee with your customers. Listen to their problems. You won’t need to say much.

• Be flexible with payment terms since this may make or break a deal.

• Say thank you to your customers. Stop and listen to them. Be grateful.

This recession is not business as usual. What worked last year may not apply now. Take a hard look at your day-to-day activities and do what is important. Postpone or discard the rest.

John Bradley Jackson
© Copyright 2008 All rights reserved.

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  1. I really liked this post, good advice.

    I think we are entering into “The Age Of Frugality” where a hoarding of cash will lead to a weird deflationary period, following nasty stagflation. Who knows for certain… as a rule of thumb cash is king, and being frugal will keep us from sinking our ship of state.

    “My mind is a garden. My thoughts are the seeds. My harvest will be either flower or weeds.” — Mel Weldon


  2. Anonymous


    If you do save, you will be in the minority.

    Credit has been the driver of economic growth for many.


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