I hope you have no doubts about this truth. Things are not looking good to a lot of people and small business owners, especially in some industries like the mortgage and real estate.
At the same time the media doesn’t make it easier for us, because they are the first to talk about panic. Don’t listen to this kind of thing.
This will pass, but what should you do to be on the safe side and create other channels of revenue? Remember the saying, when one door closes, a window open?
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. There is always people looking to pay for good information.
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?