regdon70's picture
From regdon70 rss RSS  subscribe Subscribe

How To Make Money In Recession For Businesses 

How To Make Money Tips that will help you to even make money in recessioin.

 

 
 
Tags:  "make momney in recession"."make money online from home"  "make money fast" 
Views:  39
Published:  March 11, 2012
 
0
download

Share plick with friends Share
save to favorite
Report Abuse Report Abuse
 
Related Plicks
How To Make Money In Recesssion- Top 3 Tips

How To Make Money In Recesssion- Top 3 Tips

From: regdon70
Views: 99 Comments: 0
How To Make Money Tips that will help you to even make money in recessioin.
 
Where You Make Money Fast Online

Where You Make Money Fast Online

From: blanx
Views: 1487 Comments: 0
Secrets Revealed on How to Make Money Online. This is a Facebook Page made exclusively for making money online from home fast.

 
Where You Make Money Online From Home

Where You Make Money Online From Home

From: blanx
Views: 979 Comments: 0

 
How To Make Money During Recession

How To Make Money During Recession

From: regdon70
Views: 89 Comments: 0
How To Make Money Tips that will help you to even make money in recessioin.
 
See all 
 
More from this user
4 Tips on how to Learn French fast

4 Tips on how to Learn French fast

From: regdon70
Views: 126
Comments: 0

A Few Steps for You to Learn French

A Few Steps for You to Learn French

From: regdon70
Views: 144
Comments: 0

Motivation a must to make money online

Motivation a must to make money online

From: regdon70
Views: 318
Comments: 0

How To Lose Weight After Having A Baby - 3 Secrets Revealed.txt

How To Lose Weight After Having A Baby - 3 Secrets Revealed.txt

From: regdon70
Views: 135
Comments: 0

Make Money Online Training - 3 Important Things to Look Out For - Knowledge is Power

Make Money Online Training - 3 Important Things to Look Out For - Knowledge is Power

From: regdon70
Views: 119
Comments: 0

 
See all 
 
 
 URL:          AddThis Social Bookmark Button
Embed Thin Player: (fits in most blogs)
Embed Full Player :
 
 

Name

Email (will NOT be shown to other users)

 

 
 
Comments: (watch)
 
 
Notes:
 
Slide 1: ==== ==== For Current Tips On Making Money Check Out: www.newreadymademoneysite.com ==== ==== I decided to write this article because a quick search on internet didn't give me satisfying results. A lot of material was directed towards consumers and even if it was targeted toward businesses the advice was kind of consumerist in nature. I'll do a brief rundown on common suggestions I found Don't Panic (I totally agree with it). Value for money (Recession have nothing to do with it. Its a norm) Spend wisely / Cost Reduction / Layoffs No new debts Sit tightly in a closed box; hold on tight to whatever you have and pray for things to get better. The last one is a summary of the above all (except the first one). Its like lot of people are feeling paranoid about the current situation and Are not fully adapting to new realities. Everybody know about housing bubble, financial meltdown, auto-industry, manufacturing industry and jobs market. Things are definitely bad for people who panic. Recession itself have given boost or created many businesses like Corporate Restructuring, Legal Consultants (Liquidation, bankruptcies) and even small businesses are getting more exposures to big clients. I as a freelance consultant pitched a few big companies for my services at the end of 2008 but I got the reply that they are not willing to deal with Freelance. It was a nice feeling when I recently received a call from one of those companies saying they are interested! Below I'll put an excerpt from a newspaper. "Lehman Brothers Holdings Inc., the investment bank liquidating in bankruptcy, paid its lawyers and other advisers $641.9 million (Dh2,357 million) in 16 months since September 2008, according to a regulatory filing.The restructuring firm Alvarez & Marsal LLC, which provided Lehman with its current CEO, Bryan Marsal, led the payments with $233 million in fees for "interim management" through January, according to the filing with the US Securities and Exchange Commission. Weil Gotshal & Manges LLP of New York collected $149.5 million for acting as the investment bank's lead bankruptcy law firm. Milbank Tweed Hadley & McCloy LLP got $42.4 million for advising Lehman's creditors' committee." No to mention Kelly Matthew Wright, an auctioneer who's collected US$47,000 thus far to help sell off Lehman's corporate art collection. It means surely there are opportunities in recession as well. Existing customers
Slide 2: Though in recession getting new clients is difficult but you can concentrate on existing clients. You should work on retaining existing clients (customer satisfaction) and creating new revenue stream from existing clients, specially customers with cash, due to recession a lot of assets have lost substantial value, it also means the purchasing power of cash have increased. The people with money are looking for great bargains, so throw a few recession time special offers to them which they will never get after recession. Strategic partnerships or B2B transactions What most of people are struggling at, is to accept that recession is a changed environment. You have to accept this new environment and try to do business in this new environment. Most of the people are saying that recession will end by the end of this year or next year. Why you wait for the recession to be over, why not do business in recession. Instead of concentrating on cash transaction, Concentrate on exchange of good and services. Build strategic partnerships and combine the customer base. I'll explain the above points by giving a few practical examples. Scenario 1 A SMS marketing firm who sell SMS in large quantities to businesses (e.g. Hotels, Malls and Big brands) is struggling due to reduced spending of existing customers. Getting new customers is getting increasingly difficult as well. Management calls for a general meeting with a two point agenda. B2B transaction with existing customers and How to utilize the customer base of clients. After a simple brainstorming session they come-up with few ideas. 1) In addition to selling SMS to Hotels, We will offer a subscription based service to hotels. The visiting customer can subscribe to receive notification for different event and they will receive a notification (for a small subscription fee). The service will combine the SMS service and Hotel infrastructure and client base to generate revenue for both involved parties without costing any direct money to hotels. 2) We can offer the client (a local shipping/marine directory publisher) to make his directory accessible through mobile. So people can access the information through their mobile (useful specially in the field, with no directory in your hand). We will provide training and Send SMS broadcast to client's customer base about new service. The publisher should give us some Ad space in his magazine. The user will be charged a nominal fee for the service. Which can be shared by involved parties. Scenario 2 A company recently had to layoff some of his staff due to changed market condition but struggling again with cash. Management realizes that further layoffs or salary reduction is inevitable. After a brainstorming session the management come-up with following points.
Slide 3: We have to educate the employees why we are forced to take these steps. The sales staff basic salary will be reduced by X% but commission will be increased by X%. (The sales staff may try to offset their shortfall through increased efforts). The consultancy staff's salary will be reduced by X% but if any consultant can provide a new service or idea, He will get X% from that service revenue. The company will not provide transport allowance but will provide transportation services to their employees (that can include management). Cash is king Some assets are losing their value in recession, it means the purchasing power of cash is increasing. Smart investment in recession can give you higher returns. Don't hold the cash, spend it wisely. To avoid repeating things again, there are many articles available on internet suggesting cost cutting, restructuring etc but they are mostly defensive rather then aggressive in nature. I found the following article as interesting, you may also have a look at it. http://www.businessweek.com/managing/content/jan2009/ca2009019_277573.htm I would like to end my article with following advice "Recession will only hurt you if you panic". Asim Zaman Al-Sayyed Article Source: http://EzineArticles.com/?expert=Asim_Zaman_Al-Sayyed ==== ==== For Current Tips On Making Money Check Out: www.newreadymademoneysite.com ==== ====

   
Time on Slide Time on Plick
Slides per Visit Slide Views Views by Location