14 Questions To Help You Thrive In A Soft Economy
There is no doubt about it now, the economy is slowing down and people and businesses are starting to feel it.
During downturns, it is easy to focus on the negatives as it can feel like more work to earn the same amount. However, a period of contraction can serve as a healthy process that can cleanse and streamline your business. For those willing to distance themselves from the media and the “sky is falling” mentality, there is much opportunity for the enterprising individual.
The following are some questions to help stimulate thought to create positive change in your business, so when thing inevitably turn around, your business will be leaner and meaner than ever. .
- When was the last time I took a close look at my expenses?
- Where am I spending the most money?
- If I doubled the budget in any given category, how would it affect business?
- If I halved the budget in any given category, how would it affect business?
- What areas or systems require the most resources of the business?
- What areas or systems could be reorganized more efficiently?
- Who could you partner with or pool resources with to create efficiencies?
- What am I spending on marketing and advertising?
- How accountable are my marketing dollars for performance?
- Are there marketing dollars that are underperforming that I should cut off?
- Are there marketing dollars that are outperforming that deserve more resources?
- What are some ways that I can promote the business cheaply and/or free?
- How can I use this time to my advantage to grow the business?
- Are there people looking for work who could bring something of tremendous value to the business?
These are just a few questions to get the ball rolling. Many times its only when the right question is asked that the proper solution appears.
Feel free to post more ideas in the comments section.
We often only find what we look for. Stay positive and seek the opportunity. May your business thrive.