Recession Busting Business Tactics for 2010

January 14th, 2010

So we had a bit of a bumpy road in 2009, here’s 25 recession busting tactics to help you break through in 2010.

  1. Start a side business. In addition to your job look at supplementing your income by starting a hobby business that can add a few dollars here or there.
  2. Create a job! Maybe hire the next door neighbour to do your lawns, or someone to do your cleaning. If you have some spare cash, why not improve your life a little and help out your community.
  3. Invest locally! Sure leaving money in the bank is fine and dandy but it’s not helping out as much as it could be. Use a portion of it to invest in local business – maybe even form a micro loan club to help support local entrepreneurs.
  4. Volunteer. Volunteers contribute hugely to the nation as a whole and have taken a heavy hit in the last 18 months. Get back on the bandwagon and support a local charity; lend a hand, have some fun, it’ll probably be the most rewarding experience you can have.
  5. Educate! You know something – share it with the world or teach it to others.
  6. Connect. Business is all driven by connections, actively take stock of your connections and see where you can make some introductions that could stimulate business or potential partnerships.
  7. Seek for global business opportunities and pair them with local business.
  8. Unleash the online world to your business. Whether it’s creating attention, developing business or engaging with customers digital engagement is here to stay.
  9. Grow your business, chop it up, reinvent it make it much more streamlined. Look at squeezing efficiencies out of it to maximise profitability.
  10. Get not one but several mentors. Leverage others experience to avoid pitfalls.
  11. Mentor someone else. Lend a hand to people that can use your skills.
  12. Actively outsource & automate the parts of your business that need it. We all know we need to develop the systems & processes that empower the growth of our business. What better time to do it (on the cusp of a recovery).
  13. Write & share with the world your experiences. Start a blog (like #5 Educate) unlock your knowledge for others benefits. You never know what may happen or who will read it.
  14. Invest in yourself, learn some new skills, take an extra course. Identify skill gaps you have and how to fill them.
  15. Take time off! Time to rest/rejuvenate is just as important as the doing.
  16. Increase productivity with online tools. Read David Allens Getting Things Done – implement this in your personal and business worlds. Better productivity helps everyone.
  17. Set aside review & reflection time (blogging is a great way to do this).
  18. Read books. Books are the best investment, they give you some downtime AND present you with new ideas that can dramatically change your business. All $20! #Best investment.
  19. Explore franchising or partnerships. How can you strategically expand your companies reach with little capital outlay.
  20. Test the waters. Now’s the time to try out those new products and services that have been sitting in the closet. Give them a try.
  21. Invest in Adwords. Capture motivated leads in an automated fashion – hard to beat.
  22. Networking – get yourself out there active in the market place. When things get busy you want to the guy (or gal) they call straight away.
  23. Map out your reach into market, how do you market your company? What does that look like? And how can you improve it?
  24. Buy an iPhone. Why? It will pretty much allow you to make your business mobile instantly. Whatever you want chances are it can do it OR someone can develop it for you.
  25. Telecommute. Work from home one day a week and encourage your staff to do so as well. This lowers costs, can boost morale and productivity.

It’s the compounding effect of small changes that break the biggest barriers so pick one, knock it, pick another. ¬†Go for it!

(Add your own in the comments below).

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