Tag Archive for 'Recession-Proofing'

Starting A Business In A Recession

As I explain to my clients – a recession is the best, easiest and least expensive time to start or grow a business. At our Advanced Business Mastery and Exponential Business Building Bootcamp, I explain exactly WHY this is the case and HOW to leverage it. That is a discussion well beyond the scope of a blog post, but if you’re keen to peak into a recent Bootcamp, check out this segment called How To Recession-Proof Your Business.

Let’s look at a few recession success stories:

The Walt Disney Company

In the summer of 1923, Walt Disney arrived in Los Angeles to find a distributor for one of his first animations. With America two months into a recession this seemed, at best, hopeful. But by October 1923 Walt Disney had signed a contract with a well-known film distributor. The deal marked the formal beginnings of a film studio which started in a garage, went on to survive the stock market crash of 1929 and today The Walt Disney Company is one of the world’s biggest entertainment businesses in the world.
The Walt Disney Company was not the first to launch in a recession. Of the 30 companies on the Dow Jones industrial index, 16 started in a downturn. Household names like General Electric, Kodak, Hewlett Packard, Microsoft and Burger King all launched in tough times. So did some of the most successful
products—the iPod, Sellotape and Monopoly.
There are some advantages to launching a company in a recession. Start-up costs are lower, with real estate, computer equipment and labour more abundant and cheaper. Also in a recession there is less competition so less advertising is needed to get people’s attention—all of which, undoubtedly, helps the
a company to grow in its early years or helps an existing company get a lead on its competitors.

10 Recession Proofing Tips

The article below appeared in this week’s BRW Magazine. It’s a classic example of what you can do with an Exponential Mindset. I ripped out the page and was going to send it to Jason Chuang, a graduate of our Business Mastery Platinum Program. Then I caught myself and realised that you also need to benefit from it.

So here it is:

10 Recession Proofing Tips For Your Business

10 Recession Proofing Tips For Your Business

10 Recession Proofing Tips For Your Business

Continue reading ’10 Recession Proofing Tips’

Recession Proofing Tip

In a recession, the tactics and strategies you deploy are more important than in boom times when clients and money (profits) are ‘easy’ to come by… Today’s recession proofing tip can unlock sales that could be triggered within days.

In this week’s The Economist Magazine (Jan 17, 2009) an article revealed that MORE people are looking to get the SAME for LESS money rather than MORE for the SAME price.

Think about that – what can you offer that is perceived as the SAME value, but for LESS? In software, it means offering a software that does 90% of what someone needs, but costs less than the ‘full-blown’ version…

What product or service can you package that extracts superfluous extras that might not be ‘necessary’ that allow you to reduce the price or cost to the client?

Can you offer

  • A recording instead of a live presentation?
  • A transcript instead of a recording?
  • An electronic document instead of a printed document?
  • Online software-as-a-servie instead of computer-installed software?
  • Fewer components or modules of a package?

Give it some thought – I know I will be offering 3 new ‘options’ to target markets within the next 2 weeks as a direct result of this article.

It’s part of what I call recession proofing your business. If you want to learn more about doing this, click on the hyperlink for a $17 video program that is an example of this concept in practice!