The whole world is experiencing an economic crisis and unless you are one of the rare businesses out there that’s seeing an increase in profit then you are as worried (or maybe feel that you are more worried) as the next business owner.
This financial turmoil has obviously affected each one and one has to look no farther than simply typing in “business tips” in Google News to see the results. Instead of seeing general business tips what you’ll see are “tips on surviving the cash crunch”, “tips for surviving difficult times”, “tips for hard times”, etc. Even the ones not using such grim titles have something about the hard situation of businesses in this financial climate. After scanning tip after tip one tip that seems to be present in all articles is this: TIGHTEN YOUR BELT.
Of course the tips are worded in so many different ways but in the end what everyone has to say is that you need to cut your business expense (and even personal expense) if you want to see your business through this crisis in the best possible shape. To some that shape might mean leaner but still profitable but to others that might mean barely alive, whatever shape your business might be in it is still best to listen up. It’s time to tighten up your belt if you want your business to survive!
Originally posted on February 28, 2009 @ 8:00 am