Business Advice From Those Who Have Survived Tough Times

3 Feb
In yesterday’s New York Times author Paul B. Brown presents advice from business owners who have survived past economic downturns. Here’s the counsel from one leader:

1. Continue marketing. “Being consistently visible demonstrates to both existing and potential customers that you are stable and in for the long haul.”

2. “Take advantage of the trickle-down effect in hiring great talent. Unfortunately, there are many people out of work right now. But the larger talent pool means opportunities for small businesses that do have the means to bring on new employees.”

3. Give back to the community. It is “a great way to keep employee morale strong during hard times, stay busy when business is slow, and get your name out by donating time. Aside from all that, it’s the right thing to do.”

In an earlier post about a potential Silver Lining I mentioned that from a talent perspective this could be a time when companies will be able to hire individuals who may not have been on the market a few months ago. I encourage any leader to consider the advice in this column– there will be opportunities out there for those who are willing to see them.

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