Recession Survival Strategies

[sannwood]

Recession - a word that we've all been discussing and hearing tossed around lately. Are we in one? Are we headed for one? Just consider this excerpt from a recent guest featured on Small Business Trends Radio Show:

"If consumers are leery to spend — it’s a good indicator of a U.S. recession. Because here in the United States, it’s the consumers that drive 70% of the economy."

Based on that, seems to me that we may be headed for a recession if we aren't already in one. I know I'm not spending as much as I once did. David Rudofsky, Founder of Rudofsky Associates, was on recently to discuss this topic and share his insights regarding recession survival strategies to help you ensure your businesses survival during these trying times. One important point he made was that the importance of an Internet presence in times like this cannot be overlooked - as many are trying to consolidate travel expenses and prefer to shop from home now. I couldn't agree more.

Are you spending more in the virtual world these days? Are we in a a recession or are we headed for one? And what are you doing to consolidate your spending and weather the storm?

[homebizseo.com]

My family has paid off all autos and started saving 20 to 40% of our income. We quit eating out and started by generic brand food. On the business front I have cut back employees and eliminated some benefits. In our free time instead of watching tv we have about 20 websites creating a positive cash flow. We are sticking all the web profits into retirement.

My parents have started growing all their food as they did growing up in the 40's and 50's.

They have canned enough vegatables to last for over a year.

[Sporkman]

Originally Posted by homebizseo.com

In our free time instead of watching tv we have about 20 websites creating a positive cash flow.

20 websites sounds like a lot of work...

[sannwood]

Twenty sites does sound like a lot of work, although, I'm assuming it's worth it and profitable for you. As far as gardening goes, funny you mention that. I've been thinking about that recently with the tomatoe scare again this year. Fifty years ago, most of the tomatoes around my way came from backyard gardens. Might be time to go that route again.

Cutting back on dining out is a great idea, too, and one that I've decided to put into place as well. It's gotten to the point that I don't even want to order a pizza anymore. I feel I have to tip the poor driver $5 bucks just to make it worth his while for a gallon of gas. Crazy.

[bizinwonder]

speaking of websites. I learned to make my own website with Yahoo and so far have had 2 awful experiences losing 3 weeks of having a website.
now I'm going to hire a developer to make mine and do it right but he's quoted $ 2,000 as a deal. This seems like a lot but I'm willing to invest. Would you consider this a good price for a dynamic site with store fronts and a portal?
I'd love to talk with you more about how you manage the websites.

[bizinwonder]

speaking of websites. I learned to make my own website with Yahoo and so far have had 2 awful experiences losing 3 weeks of having a website.
now I'm going to hire a developer to make mine and do it right but he's quoted $ 2,000 as a deal. This seems like a lot but I'm willing to invest. Would you consider this a good price for a dynamic site with store fronts and a portal?
I'd love to talk with you more about how you manage the websites.
(I hope I can find this page on the forum again to view your response)

[roof cleaning]

As a business, we have seriuosly dropped our prices.
These are survival times for us, and the phone is not ringing off the hook like it was in boom times.
We will survive, but we have seriously tightened our belts.

[JunctionQuest]

We have also lowered our prices. Although I do feel we are in a recession i have seen many web based business flourishing during this time. Possible high gas prices = more web based sales. Should I drive to Wal-Mart or should i purchase xyz that offers free shipping to bring it to my door step.
People are staying home more, working from home more.

The web is global. Our economy issues are one thing, however when you are gaining sales from around the world i think this can level the issues the US is going through for a web based business. At least we hope. Many of our clients are from the UK, US and Japan.

[mgi]

Originally Posted by JunctionQuest

We have also lowered our prices. Although I do feel we are in a recession i have seen many web based business flourishing during this time. Possible high gas prices = more web based sales. Should I drive to Wal-Mart or should i purchase xyz that offers free shipping to bring it to my door step.
People are staying home more, working from home more.

The web is global. Our economy issues are one thing, however when you are gaining sales from around the world i think this can level the issues the US is going through for a web based business. At least we hope. Many of our clients are from the UK, US and Japan.

Well you're right on these JunctionQuest. Aside from the cost people can save, the web technology offered the people the comfort they need, buy products they need in a just a few clicks away.

[Stugetz]

Call it what ever you want. The "R" word has become just a carefully managed term that can't be used to describe reality in fear of causing a "panic".

There's no panic now, the government will bail all of us out right?

During the boom Liquidity was plentiful, now? Liquidity practically doens't exist.

Yes, the world is changing, the cheese moved, and I am moving with it.

Not really spending any money on anything that isn't necessary, Retooled my skills to hunt in better grounds. There are internet entrepenuers who say, "what Recession, I've never done better in my life" .

That said, I feel sorry for people who are waiting for the "G" to create new jobs, you got to recreate yourself to survive and thrive today.

I have become a copywriter for web businesses, I consult and Internet Marketing projects and begun to develop my own stable of websites to provide information and solutions for this problem and many more.