Also, another great strategy is to invest in yourself. When other stocks are low and waining, you can always get a sure return on a continued education.
I've bought more business/marketing books, gone to more courses, and attended more seminars this past 18 months than ever in my life and I am seeing immediate returns.
Just because there is a "recession" doesn't mean that we have to become recession-minded.
By allowing those ideas to infiltrate our mind, we begin to succumb to the recession-mentality.
My idea is to guard your mind, your heart, and your soul. Keep an abundance/faith mentality and don't get sucked into the whole recession idea. Your world is primarily shaped from the inside-out, but if you allow it to be shaped from the outside-in, then you will only become a product of the world around you. Be an influencer to change the world not let the world change you...
byRentalLeaseon10-14-200907:57 PM- last edited on10-15-200909:03 AMbyNicoleD
Part of the problem with the housing market is the abundance of supply and lack of demand, which makes it extremely difficult to sell (and easy to buy).
If you want to take advantage of the buyer's market, without having to sell your existing house, sign a rental agreement on it instead of trying to sell it. You'll ride out the bad market, and in a year or two when home values are higher again you'll be in a much better position to sell.
And, you'll know that you're contributing to the solution and not the problem, by contributing to demand instead of the over-abundant supply on the market.
Here's a site with state-specific rental agreement forms if you need them, being a landlord does require some initial investment of work on your part, but the reward of monthly cash flow and flexibility in selling is worth the effort.
Best of luck navigating the recession and the housing slump, and best of luck with your business!
bypetrosianiion10-11-200909:02 PM- last edited on10-13-200901:27 PMbyZanetaB
I agree with ElmStreetDesign: A website in today's Internet-driven economy is a must.
What we've done to stave off the recession: Took a second look at our Profit/Loss Statement to see where we could cut unnecessary expenditures and perhaps move some funds over to areas that were lacking.
In these recessionary times small business owners have been forced to implement creative tactics to maintain their business -- from budgeting resources to marketing to retaining customers. Share one effective tactic you’ve taken in response to the recession.
