If you are looking for ways to survive as a business during recessionary times, you can either do it by increasing inflows or decreasing the amount of money that you spend. Since no business really expects increased inflows during times of economic crisis, the natural way for you to try and survive is to decrease the amount of money that you spend.
After salaries, the next largest single cost for most businesses tends to be energy. Well, the interesting thing about energy costs is that most of them are unnecessary. If you take a close look at the way your business expends energy, it might be possible to save hundreds of dollars a month in energy costs without actually changing anything about your business. You can do this by making sure everything is off when you leave for the day and also only turning things on when you actually need to use them.
Things like lights, energy intensive appliances and computers tend to run around the clock at most businesses even though they are only actually used for a few hours each day. A little intelligent use of energy will allow you to save a lot of money each month on your energy costs and you won’t even really have to change the way you do business in order to realize those gains.
[tags]amount_of_money, appliances, clock, economic_crisis, energy_costs, recessionary_times, salaries[/tags]
A big mistake that is made by a number of people during economic downturns is to layoff employees starting at the bottom of the chain. While it may surprise you to learn this, only the very large corporations can actually get away with this and even then they only do it to protect senior employees as opposed to doing it because it benefits their bottom line.
The simple fact of the matter as far as small and medium businesses are concerned is that keeping lower rung employees is a lot cheaper than keeping management and since management tends to be hired in larger quantities than necessary anyway, laying off some management employees can serve to save you a large amount of money while at the same time ensuring that your management employees end up working at peak productivity. It is a nice way to kill two birds with one stone and it could save you tens of thousands of dollars each year.
Money like that could easily be the difference between the sky and the grave for a small business and therefore it is something you should definitely consider if the company falls on hard times. Businesses do have a moral imperative to its employees in times of economic downturn however, so make sure that all other options have been exhausted before you act on this option.
Recently, there has been a lot of talk regarding conceptualizing success. Whether it is the law of attraction, the motto of “conceive, believe and achieve” or anything in between, there are a number of people on the internet making a fair amount of money by telling people that in order to achieve all they have to do is conceive of success and they will eventually be able to reach it.
The question is, are they right?
The answer to this question, as is usually the case in the business world, is that it depends. While the ability to conceptualize success and clearly see where you want to go in life is definitely one that is going to make getting there a lot easier, at the same time you can’t just sit in a chair, conceive of success and then have that success reach you. This is essentially what the law of attraction preaches in its simplest form and that at best is an incomplete statement.
Conceptualizing success only works when you create a plan to go along with that conception and then stick to the plan, showing very good work ethic and perseverance along the way. These in fact are more important factors to success than being able to conceptualize it because even if you have a good work ethic and no plan, you might end up blundering onto something that will get you where you want to be in life. Sitting around and conceptualizing success without doing anything else will get you nowhere and that is definitely something to keep in mind when you are prioritizing things for your business life.
[tags]good_work_ethic, law_of_attraction, amount_of_money, business_life, business_world[/tags]
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