I recently read an article stating that in the long run a recession is actually good for the community. How? Well, when times are tough, in theory, only the best survive as their "unworthy" components wither away.
If that's true then who are the "best" and how do you make sure you are currently, and remain in that category? You're already offering a top product or service at a competitive price or you wouldn't be in business right?
I think the true survivors in a tough economy are the business owners that have learned to adapt and adapt quickly.
Business owners are being forced to look at things from different angles these days. To many, their "bread and butter" just isn't what it used to be so creatively finding new revenue streams has been essential to adjusting to "not so fruitful" times.
Recessions can often hit smaller communities the hardest because as business declines and jobs are lost it's often even more difficult for families to replace that income. So, small communities start to lose people to more lucrative areas out of necessity leaving fewer residents spending their money close to home.
There is however one playing field in which even the smallest business communities can compete. It's called the internet... maybe you've heard of it? Heck, maybe you think you're already using it. But are you really? Is the internet currently working for your business?
When times are good and our businesses are running without a hitch we get comfortable in thinking that changing anything just isn't necessary. After all, you've been doing business the same way for years and have always been able to put food on the table... when times are good.
But if you fish even your favorite pond without catching anything regardless of what bait you try what do you do? Well if you want to take home any fish you find a new favorite pond right? The fisherman who knows all the best ponds to fish is the one always bringing home his fill regardless of how fruitful any one pond is.
The internet, although thought of as one big group of people, is actually very similar to millions of ponds (smaller intersecting pockets of people) grouped by some common interest or goal. They're not going to come to you but if you learn what ponds to fish, what bait to use and in some cases when to fish them, you can learn to adapt to almost any market shift in your business. This is how you make your business recession proof!
How you best use the internet depends. Can you offer your products/services online? How about the knowledge you have gained in your market or even just running your business... would that be valuable to anyone? There are people out there looking for what you have or what you know from all over the world and if you have been able to fill a need in your community you can fill a need everywhere else... online.