Most people look at hard times as when the focus is not protecting your existing business and making sure that it does not shrink. That’s a big mistake. It means you are focusing only on the enemies at the gates. A business can never be inward looking. It is not a self supporting entity. A company exists only in relation to its market and unless it focuses on that market, it will soon be separated from it. Then it becomes like a fish out of water and soon dies.

The smart business owner knows that most people do what is outlined above. That provides him opportunities to go into the market and while the competition is so busy looking inwards, occupy some of their territory.

It sounds great in theory, but when times are hard, how do you create the resources to build your business when you are already suffering as much as everyone else? The answer is that you don’t. Money and other resources are not easy to come by. What you need to do is redeploy what you have with you. Read more

Depending on how old you are, this could be your first real economic slowdown. But whether it’s your first or third, this is the worst we have seen in 70 years. Sure, we will get through it and will come out stronger. But does that mean that it will not happen again. Not at all. This time we brought it on ourselves and we may have learned our lesson. But it’s a global economy the next recession may be triggered by something that happens far away in India or China.

The smart business owner will be looking at ways to recession proof his business. It’s not easy but if you follow these 6 tips, you can make your business recession proof as possible. Read more