"Recession is a time of great opportunity'
Warren Buffet said, "In times like this we get greedy."
"simply following the rest of the pack, whether it be in stock market investing or investing in the growth of your business, is not smart. The time to be buying is when everyone else is selling. The time to be selling is when everyone else is buying."Here is the "business model" for tough time:
In a recession, the key for achieving growth and sustained profitability is to focus on your core business. If your core business is not sound you will struggle. Once you’ve taken care of that, you’ll be positioned to exercise some real muscle in the good years.Link to article:
To do that you need to take a close look at your strengths and weaknesses and then formulate a simple strategy that embraces positioning, product definition and pricing, service protocols, team development and delegation, client selection (and de-selection) and most importantly, very focused attention on how to create value for your clients in a recession and how to capture some of it.