Things are not looking good to a lot of people and small business owners, especially in some industries like the mortgage and real estate.
This will pass, but what should you do to be on the safe side and create other channels of revenue?
First, maybe you need to reivent your business if you are facing an empty market. There is nothing wrong with reiventing a business, in fact many very successful businesses have done this in the past and it is a common practice.
Don’t spend too much time watching the news. Focus on what you can control, the things you can change and create a game plan.
Speed is a key factor in business and one that is often overlooked, even in small businesses. Take action today and make necessary changes, correct the course, don’t wait. This will make all the difference in your business.
Can you incorporate any kind of information business in your business? This can generate other channels of income.
Follow the money. Go sell your products or services to people that have money now. This brings some questions like: Can you do business in other countries? Do you have a website to create business for you in other markets?