What the recession has done to business and what to do about it

February 28, 2012

As readers of my blog will know, turning off the television, newspapers and radio will do wonders for your positivity and mental strength in running a business. The last thing any business owner needs is a daily diet of economic doom and gloom especially when the media picks out all the negative stories and gives less space to positive ones (I’m not blaming them – we get the media we deserve!).

The truth is there are lots of business owners out there (many of them I know personally) who are having bumper years.

However, whilst we can shield our eyes and ears from the prophets of doom it is likely that your customers will be daily receivers of this negativity and it would be crazy not to think it doesn’t have any effect on them.

The truth is, they are influenced by the media which has caused their behaviour to change in a way that may never be the same again pre 2007/8. However, it is very easy to draw generalised conclusions about this e.g. all customers buy on price because they don’t have any money.

This is a dangerous game since if we draw these conclusions based on limited experience it could have a very damaging impact on business growth. For example, if you believe that your customers don’t have any money, you are unlikely to offer them your extra services.

Over the last six months, I have been digging deep into these changes in customer behaviour and other game changers in the recent economic developments and have come to a number of powerful conclusions and related action points which smart business owners must know about.

I’m going to be revealing this information in a telephone seminar this Thursday 1 March 2012 at 10am. If you are new to telephone seminars (they are great!), I give them every couple of months to my clients, contacts and people on my email list.

This one on Thursday is going to arguably be my most important yet.

If you would like to take part in the telephone seminar, email me at russell@rsaccountancy.co.uk.

0113 337 2130

Want to Know More About Our Specialist Small Business Accounting Services?

Get Your Free, No Obligation Quote from Our Award-Winning Accountants Today!

Pin It on Pinterest