Growth During Downturns

One of the toughest challenges any business faces is cash flow.  That’s why capital ventures exist, as do loans from banks for solid business plans.

Many business owners will tell you when the chips are down its time to expand!  Ask anyone in real estate from the person just starting out to Donald Trump and they will tell you “when there’s blood in the streets, buy real estate.”

What if you don’t have cash on hand? Have you ever heard of “Gorilla Marketing?”   Remember a few years ago in Boston?  This very type of marketing caused a bad stir, closed down Boston Harbor half a day, all for a little cartoon show.  This happened for the wrong reasons, but it incidentally gave millions of dollars of airtime for what I imagine was a few thousand dollars.

I don’t agree with the scare that campaign inadvertently caused.  However, the point is get creative!  What can you do to expand your company’s profile in a seemingly falling market?  If it’s slow maybe you could streamline processes while you have the time?  Network and make new contacts?  Cold call more people, work older leads?

These are a few suggestions that may not all apply.  But the important idea is to do something to improve your business during slow periods.  Even if it’s a tiny thing that doesn’t cost physical money, it may give you that one percent edge you need on the competition.  We should never stop growing as people in life and business, even in downturns.

–Warren