With today's economy being what it is, it's important for business owners to be in a position where they can profit no matter what. We see it every day, major companies going out of business. We hear about all the layoffs. These things create a fear within our economy and within local businesses. Because of these fears, it's important for business owners to reassess the products and services they sell and how they sell them.
To eliminate this challenge, you should take a look at your gross income over the last 12 to 24 months and compare it to the last six marks. Are people still buying what you're selling? are they buying the same quantity they used to? in today's economy people are no longer buying the things that they used to buy just six months ago. People have cut back in many areas of their personal finances. Things that people used to buy on a weekly or monthly basis have now become luxury items that are no longer buying.
Take a good look at your business, or their services or products that you could be selling on a monthly basis that you are not.These subscription services or also known as continuity programs would allow you to better manage your business and have better cash flow. Many business owners whose businesses were not right for continuity program are instead cashing in on their most profitable asset - their customer list.
Take a look at your own personal monthly spending. Where have you consistently spent your money? Is it possible for you to turn those monthly expenses into cash flow for your business? according to the National Retail Federation, we are committed to using today's technology. More than 80% of us wouldn't give up Internet access. Almost 2/3 wouldn't cancel a cell phone, and more than 60% would never drop cable or satellite television.
Obviously, you want to be selling what people are buying. Today people have raised their expectations. We now expect others to have cell phones and to be able to accept our text messages. For entertainment, people are now watching more satellite or cable as it's already a part of their monthly expenditure. As you look over your own personal finances, it begins to come obvious that the things you spend your own money on are the same things your customers are spending their money on.
As people cut back on their spending because of the fear of losing their job, it's important to realize that you must be Smart about how you market your business and be selling the products and services that people will consistently by. A limousine service for example, would be considered a luxury item that many may have been using consistently, however in today's economy they are instead renting a car or getting a friend to pick them up.
Those who had a sizable nest egg are also concerned as the stock market changes have lowered their savings, so they are more focus about where they spend their money. People who would normally spend $4000 on a vacation are spending $2000. People who would have spent $2500, are spending $1000. People who would normally spend $800, are choosing not to take a vacation - and it could get worse.
In today's economy to sensual that your business is selling what people are buying. This allows you to be consistent in your cash flow and to also continue to be financially stable.
To eliminate this challenge, you should take a look at your gross income over the last 12 to 24 months and compare it to the last six marks. Are people still buying what you're selling? are they buying the same quantity they used to? in today's economy people are no longer buying the things that they used to buy just six months ago. People have cut back in many areas of their personal finances. Things that people used to buy on a weekly or monthly basis have now become luxury items that are no longer buying.
Take a good look at your business, or their services or products that you could be selling on a monthly basis that you are not.These subscription services or also known as continuity programs would allow you to better manage your business and have better cash flow. Many business owners whose businesses were not right for continuity program are instead cashing in on their most profitable asset - their customer list.
Take a look at your own personal monthly spending. Where have you consistently spent your money? Is it possible for you to turn those monthly expenses into cash flow for your business? according to the National Retail Federation, we are committed to using today's technology. More than 80% of us wouldn't give up Internet access. Almost 2/3 wouldn't cancel a cell phone, and more than 60% would never drop cable or satellite television.
Obviously, you want to be selling what people are buying. Today people have raised their expectations. We now expect others to have cell phones and to be able to accept our text messages. For entertainment, people are now watching more satellite or cable as it's already a part of their monthly expenditure. As you look over your own personal finances, it begins to come obvious that the things you spend your own money on are the same things your customers are spending their money on.
As people cut back on their spending because of the fear of losing their job, it's important to realize that you must be Smart about how you market your business and be selling the products and services that people will consistently by. A limousine service for example, would be considered a luxury item that many may have been using consistently, however in today's economy they are instead renting a car or getting a friend to pick them up.
Those who had a sizable nest egg are also concerned as the stock market changes have lowered their savings, so they are more focus about where they spend their money. People who would normally spend $4000 on a vacation are spending $2000. People who would have spent $2500, are spending $1000. People who would normally spend $800, are choosing not to take a vacation - and it could get worse.
In today's economy to sensual that your business is selling what people are buying. This allows you to be consistent in your cash flow and to also continue to be financially stable.
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