Why do some contracting businesses thrive while others fall
apart during an economic recession?
Do all contracting businesses have to suffer during a recession?
What are some of the indicators or solutions that will
keep you business healthy and growing during an economic down turn?
1. Create and measure your targets your goals for sales
and growth and your revenue goals but be reminded that
profit should be our main focus
2. Keep in touch with your customer base they are the
heart bear of our business also a source of information
for customer service and for the introduction of new
products and services.
3. Also develop strategies for gaining new customers
it needs to be strategic and trackable.
4. Decide whether you are going to be reactive to
the climate at hand or your are going to be responsive.
5. Are you practicing the 3 M’s
6. Management do you know your numbers, are your
employees trained effectively, do you have a up to date
database of current clients you keep I contact with,
7. Money do you cost, labor ,job cost, what’s your break even?
8. Marketing shot gun approach or targeted approach ,
is it trackable, is it an investment or an expense ?
These helpful strategies implemented properly
and methodically will put your business in a recession
proof mode. Start implementing these today and prepare for the future.
Keep your contracting business recession proof.