Some Tips for Cruising Through the Economic Downturn

Image by swamibu

Are you feeling the crunch of the current economic climate? If not, you're either very lucky or you're not paying attention. Most businesses are looking for ways to cut costs and many are quick to cut corners they should leave intact.

Last week, I listened to a recent episode of Startup Nation, which included an interview with Scott Aughtman, author of How Your Business Can Survive and Prosper in a Recession.

I thought much of the advice Aughtman gave was also great advice for organizations in the events industry.

I captured a snapshot below, but if you want to hear more you should take a listen.

1. You're sitting on an "acre of diamonds" and those diamonds are your customers. Don't go looking elsewhere if you don't have to.

2. Stopping marketing to save money is like stopping your wristwatch to save time. (this was my favorite)

3. Focus on what your customers need and you won't go wrong.

4. Cultivate your relationship with your clients during this rough patch by giving them information and tools that will help them.

5. Consider joint ventures with other companies you respect.

6. Give away free samples and trials. If your product is worthwhile, they'll remember you when things pick up.

Comments

[scott aughtmon]

Hi Alli,

I'm glad you liked the interview. Thanks for posting about it.