Surviving the downturn

Market downturns and recessions come and go periodically in cycles. Most businesses are affected in some way in these periods, some more than others but not always in a negative way, there are those businesses that sieze opportunities during a downturn to come out stronger at the other end. Then there are the downturn entrepreneurs who actually start up their new businesses during these difficult times and go on to succeed in a big way!

So what makes the difference, why do some businesses make it through while others fail? There are a number of factors that determine the answer, but a general observation is that busisnesses with good leadership and with managers who have good overall control of the business tend to make it through, if not profit from a downturn. There are some well proven rules to follow, see our top 10 tips on surviving the downturn, which will help you to get through, but the important thing here is "action", you do need to understand the rules and take positive action! Poor funding and poor management are the two main reasons for business failure, see some SME facts, if you have gaps in your in-house skills, bring in experienced outside skills to help you, whether they are friends, family or professionals. 

In a downturn it is back to the “survival of the fittest” a fit business will not only survive, but cash in on the opportunities on the way out when the market recovers. Where are you going to position your business?

SPECIAL OFFER - We are giving away some FREE 1 hour, one-to-one sessions for owners / managers of smaller businesses. The meeting will take place at a place of your choice and cover essential aspects on how to give your business a fighting chance of getting through these difficult times. If you have not experienced operating a business through the previous recession in the late 80's, this will be an opportunity to speak to someone who has. The offer is subject to limited availability and there are no obligations attached. Please contact us if you would like to book an appointment.