This is an answer that many people want the answer to. The short answer is: “for the rest of your life!”
There is no point mourning the loss of the good old days – when life was relatively easy. Life is not meant to be EASY ! Be grateful you had it so good and get used to the new world order and learn to live with it.
We have all heard the old adage: “the one constant is change”. It is not like you did not know that change was coming – so stop complaining about it. If you can’t change it, embrace it! Will you survive? Who knows? All you can do is use your best efforts to adapt to external factors outside of your control.
What do you need to do? A recession can be a real threat (http://tiny.cc/8r8lbw) to your livelihood but it also creates opportunities. Review your personal and business (http://tiny.cc/8t8lbw) strengths and weaknesses to evaluate what opportunities you can create out of the situation. Focus your ‘offer’ on your uniqueness, your core business, your personality/characteristics and strengths. Ask yourself what you can do or provide customers that no one else can, in the way you do it. Exploit your uniqueness.
Your customers may not be able to buy from you as often and the value of their purchase may be lower. For this reason, you need to ensure that your customers think of you first when they are ready to purchase. Be creative!
It is important to maintain your existing customer base, but remember to look for new markets and customer segments to spread your risk in a challenging environment.
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Janice B Gordon: The Problem Solver Business Growth Consultant, Mentor, Speaker and Author. Business Evolution – Creating Growth in a Rapidly Changing World will give you the guidance you need to evolve you and your business and exceed your customers wants and needs.