Small Business Credit Crunch Survival Kit

A primeval urge to escape the hunter instantly drives the hunted to flee.

Now it's different when a large, fanged animal jumps out from behind a bush. You react. You run or hide.

But when it's something which has just appeared on the horizon, maybe you'd better pack something to eat before you dash off.

6 Definite "Must Haves" To Pack In Your Small Business Credit Crunch Survival Kit

1. Pack A Calm And Almost Serene Attitude, Especially When Others Panic

One thing's for sure, some will panic and flee. They will re-trench, cut costs, or even sell-up and exit the market.

Anything other than face the predator that threatens their very existence.

Predators have an instinct to attack those that are fleeing. So they may well run right past you. You stay in the green and luscious plains of plenty. While the predators chase their prey (and your former competitors) into the wastelands.

Those that stand their ground will have less competition.

2. Pack A Flashlight: Opportunity Is Often Hidden In The Dark While Threats Are Under A Glaring Spotlight For All To See

All that happens in a recession is that the focus shifts to the negative. The same headlines heralding a booming economy are simply inverted.

Yes, there's less money around, but instead of glaring at the headlines declaring imminent doom, go against the flow. Look for the oportunities.

Why not give credit terms? Or offer what you do with a small deposit and one or two easy instalments. Be mindful of threats - for example use credit checks.

3. Pack A Compass: You Need To Find The Best Spot To Pitch Your Tent

Don't be the prey, be the hunter. Everyone else will be too busy reading gloomy headlines. They'll be like the rabbit staring at the headlights of the approaching juggernaut.

Be the juggernaut. But don't run over frightened bunnies. Instead, head where your clients are. Don't run in the opposite direction. They're still there, albeit with a bit less cash in their pocket.

4. Choose A Sturdy Bag To Carry Your Stuff

Your business needs to be rugged to carry you through this. Lean and mean. Cut the fat out. No expensive investments in non-essentials like furniture, water coolers, expensive new vehicles etc.

Trim back excessive stock.

But...

5. Take A Flare: You Want The Right People To Find You

In a recession, your rivals will cut their marketing budget. They will become invisible. The customers that are still spending won't find them.

But you're a survivor. You realise that this is an opportunity. So fire off your flare. In other words keep spending on marketing. If you can, spend more.

You see you'll gain market share. You will be the lone beacon the customers will flock to.

Keep sending brochures, newsletters, emails etc. If advertising works for you, negotiate more space for the same money - advertisers want to keep your business when other's are cancelling or trimming back.

As you come out of recession, your competitors will have lost ground or at best stayed static. You on the other hand will have a larger client base and market share.

6. Pack Your iPod

As you march away, keep your spirits high with a good old sing-along.

And download some happy songs. Very soon, others will tire of the gloom and start looking for a bit of good news.

So tell your happy story. Tell people how you beat the recession and business is booming. Be the lone voice at the back of a miserable crowd. Soon people will ignore the stage and turn around to listen to you instead.

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