Running a Business Well in a Recession

There are many businesses that survive and even thrive in a recession. How you run your business will make the difference between surviving the economic downturn and having to close your doors for good.
One important step is to not try and save money by cutting your advertising budget. Good advertising is not a luxury; it is a necessity to keep your business afloat. You may need to re-evaluate your advertising, but you should not cut the budget drastically.
Your competition is probably cutting their marketing budget so you may be able to take advantage of this weakness. If you work with a marketing professional you may even be able to grow your business during the recession. Just keep a cool head and do not panic and start making cuts. As your competition does less and less advertising your advertising will become more effective.
One way to cut your budget is to use outsourcing for any work that you can. You really do not need a full time bookkeeper if you can hire a freelancer to do the work in twenty hours a week or less. It may seem harsh to let people go, but that is just business. If you want to survive sometimes you have to make hard decisions. Many jobs can be done by freelance workers for a drastically reduces price. Freelancers can do everything from your secretarial work to making sales calls for you. Thanks to the internet you can have staff from all over the world working in a virtual workplace.