We are in uncertain times for business at the moment. The economy seems to do well one moment, at other times there is doom and gloom.
I’m not an economist, yet even I understand that despite some good signs there are fundamental economic indicators that are worrying, including interest rates, international GDP trends and unemployment. I’m a business owner just like you, and while I look after my business as best as I can, I do realise that there are things happening that is outside of my control.
However what is important is that we keep track of wider economic trends and see how they affect us, and, even more importantly, implement strategies that mitigate risk. So when I received an email last week from Sheryl, a follower of my blog, asking me what “common sense” things she should do to ensure that she was prepared for whatever might happen, I reached into my toolbox and pulled out 10 strategies that are useful in difficult times.
In over 30 years’ of consulting to business and other organisations, I have found that history often repeats itself. So why reinvent the wheel?
In this video I run through 10 business survival strategies for difficult times that are “common sense”, can be instigated now, and that I have seen work in other times of economic woe. Would you believe the first paper I wrote about these strategies was for a conference I presented to in 1987? Since then I have refined them at least three times as the world economy fluctuated over the last 28 years.
There’s no secret really – here they are again:-