I don’t care which side of the economic ladder you are on, you ARE probably feeling the effects of the events happening in the world? What can you do about it?

Business Owners

You need to look at every aspect of your business to figure out a number f things. Some of these are:

  • Where can you trim expenses without cutting services to your customers?
  • What product or service is still making you money in these tough times?
  • What can you do to increase the perceived value of your offering?
  • How can you economically educate your customers and prospects about your offerings and get them to understand the wisdom of buying from you now?
  • How can you retain your customers knowing they just cannot afford what you are offering right now?

If you fail to answer these and other questions, you may see your business fail. You won’t be alone. There are many business owners and consumers that are facing bankruptcy because of circumstances that might have been beyond their control.

People and businesses that have enough savings have a little cushion to find the answers they need to survive but the reality is that everyone except the very rich is facing the need to adjust or redefine their lifestyle to survive.

Consumers

You need to recognize that everyone is a consumer. Business owners are consumers themselves AND have the added responsibility of providing goods and services to you and wages for their employees and themselves.

  • You need to be a good shopper by checking the unit price rather than the total price.
  • Examine how and where you shop to find the most economical way to get what you need. This might mean shopping at a local strip mall that has almost everything the big box stores do even though the prices are slightly higher. The difference in the price might be offset by the gas savings when the strip mall is on a path you travel to or from work.
  • Do you clip coupons from your local paper, get coupons off the internet or take advantage of sales offered by local merchants? If you don’t, why not?
  • Have you talked to your friends or neighbors to see if it would be possible to carpool or group buy to save money?
  • Some local businesses are starting to offer deep discounts or even free meals to kids on certain week days when there is at least one adult buying at the regular price. If you find a deal like this, you may still be able to afford a night out for the family without busting the budget.

Group buying isn’t a new concept but it is evolving in that both business owners and consumers need to give it a harder look. Coupons and discounts are being re-examined by many but I think the thing that everyone needs to be more aware of is the value we are receiving for our money.

Are the goods, services, training or education you are thinking about buying going to enhance your life, help you in your career or help you in your business? If the answer is no, you might need to examine your budget to see if this want is necessary.

If you are thinking about starting a home based business to supplement your income, you need to pick one or two people to be your mentors and take action. Ignore sales copy from other marketers UNLESS it can be used to learn your business and make your daily chores easier.

Anyone that’s thinking about starting a home based business should seriously consider taking the Thirty Day Challenge BEFORE they do anything else. You can go through the entire course without spending a penny BUT you might want to invest a few dollars for web hosting, pay-per-click advertising and a domain name at the times indicated by the lessons.

I’ve taken the challenge for the last two years and each year the education improves while the out-of-pocket is nothing to minimal. The value of this free training far exceeds the value of some of the paid courses and eBooks that are currently being sold.

How Much Has The Economy Hurt YOU?

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