How can your business survive in this tough economy? Part 1
Many people want to know the answer to this question. They want to know how can they survive in this tough economy. The answer is not quiet this simple. However there are different things a business can do to cut back and try to stay afloat in this current economy. And it does not all have to do with laying off people. It’s more like being creative with your employees and your finances.
Part 1:Â Office Rent.
Many business try to expand too fast and take on a big overhead with high office expenses and rent. Sometimes having a big glamorous office can run you out of business. To be frank, if a customer cannot respect you for who you are as a business, then they can go somewhere else. In our experience, those customers who are stuck on this type of stuff are normally the ones who gives the most trouble. Also they are normally the ones who don’t even want to pay for your services.
Reality is, more expenses means that you have to raise your price or end up taking from Peter to pay Paul. Sometimes this also forces us to lay off good workers just to try and “keep up with the Jones.”
Not all customers are like this. In business you will have a few categories of clients. The in and out, the stick with you till your doors close, and your average pain in the but clients who are there to make your business atmosphere miserable. Try to keep away from the last set of people. Why? It’s simple. They are too demanding and time consuming. And business really breaks down to time. Time = Money. And if you are stuck spending your valuable time on clients who will not appreciate it, they degrade you, they devalue your service, then simply ask them in a nice way to go. You will make a lot more money focusing on your other type of clients rather than wasting time with the bad bunch.