December 08 - The Problems with recession

Recession is the buzz word in every industry during this month. Few big orders which would have possibly come is on hold, the reason being budget freeze. The running costs does not come down and no orders, how should one cope with such situations. I have been trying various methods but nothing seems to work for me. I am planning to sell one of my personal investments and invest it in my business to cover the next 5 months running costs. Based on inputs from ET i have decided to do the following during the period when the orders does not cover running cost:

1) Staying Positive :

Things like this keep on happening, for startups its even more difficult as any spending goes from the investment and also startups would not have seen recession before. Staying positive helps a lot in terms of finding new ways to reduce costs,
finding news cost effective ways of advertising/marketing. Myself, i have reduced direct marketing but planning to increase email marketing and may be Throw-away catlog in newspapers.

2) Increase efficiency:

Its easy to say but difficult to achieve, when there is no money coming in, it is always depressing and hence decreases our efficiency, i noticed it myself, i used to plan my day's marketing tasks, i recently stopped doing it, because i started feeling whatever i do to market the product, its not going to sell because of recession, but its not true, i have now realized at the end of the month that this is time when everyone spend time on increasing efficiency and not getting depressed. Its not our issue if someone else is not buying a product, we will have to do our things as usual until it is time for other to spend money on the product.

3) Ride the recession practically:

Its not just the startups who are facing problems, its everyone. So be confident and ride the tough times, this is what makes Startup enterprenurs stronger. When it is time to growth we would have the maturity to grow faster.

I am not going to loose hope and i have decided not to say the REASON as RECESSION. Lets fight the recession and grow our business.