Recession Survival Advice. OMG, here we go again!
Consultants love bad news.
Remember Y2K?
At the moment Y2K was born, from under the rocks and out of the woodwork crawled a legion of consultants to breathe life into this nonevent, and keep the corpse moving long after it was dead. An entire industry was born, lived and eventually died – all on the basis of a suggestion of calamity.
Sarbox too spewed its own spawn onto the consulting pool, but sadly too late to save some of our larger accounting firms.
So as soon as a recession was declared, what do I start getting but hundreds of solicitations of how to survive in a down market.
The delightful irony of course is that most of the purveyors of this advice have been bottom feeding for their entire professional lives, so in this case they could actually have something useful to say about surviving in tough times. For most of these creeps it’s always been a recession, albeit a personal one. I am, however, of the opinion that I can always learn something, even from an absolute idiot. No one ever got smarter by doing all the talking.
No, I’m not going to take advantage of “the best ever opportunity to invest in coastal real estate.”
Nor am I likely to reverse mortgage my home and invest in gold futures.
Could be the best thing I ever did, but lacking a crystal ball and being responsible for earning my own living by running a small business, discretion forms the better part of valor.
My advice? Because apparently we all have it to offer.
Cut your non-essential costs. Provide exceptional value and customer service. Market like mad. And remember to listen. An old buddy of mine who used to do a lot of business in Japan recounted that during his negotiations in Japan, it was most often the quietest guy in the room who was the boss and decision maker. The unassuming guy who would basically just sit there and listen, and then at the end when all the rubes looked eagerly at the “talker” for a decision, the “quiet guy” would respond with the go or no go. So listen. There’s no telling what you might hear. Even from a serial bottom feeder.
