For starters, times of economic downturn are also times of opportunity for those who are courageous enough to grasp them. Potential business acquisitions appear, good people come on the market and your good people stay with you. Although the banks are still rather picky about lending they are also keen to be involved in interesting opportunities.
They will need sensible, prudent, well argued and do-able business plans with sensible downside assessments so that they can see what the risks are (and risks there will be). In the end, it is a trade off - risk against reward and they have very good ways of making that assessment.
Don't do the usual in a recession which is to cut costs, with training and marketing the first to go. Your marketing spend should increase because it is now that you need to make sure that your market penetration is kept up and, if possible, on the increase. And watch your pricing - try to INCREASE not decrease your prices while giving exceptional value, quality and service. stand out from the crowd!
If you have to worry, try worrying about the rate at which your business will increase when things start to improve and how on earth will you be able to cope!
Just to revert for a moment to my previous mode, if the IMF is to be given $1 trillion, where is it to come from and who is lending it?
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