Often times a recession can cause all businesses to lose sales, including online businesses. This can cause us to think that a recession is bad for business, and it certainly can be. However, a recession can really benefit our business because we begin to look at how we can make our business better, and hopefully grow our business even during the recession.
A Recession Takes You Out of Your Comfort Zone
So many times when we are in the routine of running our business we tend to stop taking risks. We stop looking for new ways to make the business better because in our eyes the business is running just fine and we feel safe. But the fact is in every business, including online businesses, there is a bit of risk. A recession helps to remind us of the risk we are taking when we run our own business. With this reminder, we start looking for ways to continue to grow our business and keep it afloat.
Explore Different Avenues of Income
During a recession, it may become very apparent that your current business alone, is not going to cut it. It may not be reliable, creating enough income, etc. When we get in our comfort zone we become blind to the different sources of income out there that we can use to help grow our business. If the business is doing well we may lose sight that, alone in itself, even if it is a great business, it is not a business that will help us reach our financial goals. Truth be told most people who make a lot of money, do so through multiple streams of income. When a recession causes us to move out of our comfort zone we start looking for different streams of income, which will ultimately help us to meet our business and personal financial goals.
Forces You to Cut Waste
A lot of organizations available are putting directly to matters that simply aren’t making ANY money. Whilst our present-day enterprise studies a moment where sales are low we start searching at what we’re spending our time on and that isn’t always bringing in any money. We start to comprehend that our time is cash, and we actually need to begin treating our online business like it’s a commercial enterprise. Slicing time wasters is the number one way to try this.
A Recession Gets Rid of Procrastination
You understand that challenge you have got been considering doing, however didn’t due to the fact you both didn’t sense love it, otherwise you didn’t assume you had the time. Properly, bet what, now is the time to reach inside your fancy idea maker – additionally known as your mind – and begin imposing the new ideas floating round in there. Perhaps now you’ve got the time because the recession has decreased sales, consequently reduced your workload. Or you’re pressed to finish the brand new tasks sincerely due to the fact you need the money. Regardless of the case may be, a recession sincerely receives rid of any procrastination you could have had toward the brand new projects you desired to begin, and in flip, helps you to grow your online enterprise.
A Recession Helps Us Make New Connections
In a recession, maybe even out of sheer desperation, we begin to do the things we use to do at the beginning of our business that helped our business grow, when in fact we should have never stopped doing these tasks in the first place. This goes back to the comfort zone – our business is good and it’s growing, we then feel we don’t have to make connections anymore or even market our business. But then a recession hits and we realize that we stopped trying to grow our business. We stopped working on our business, and instead, we focused more on making sales, sales, sales. But a recession makes us remember what we had to do to get to where we were, and we begin to venture out again and make new connections with other people. These connections help us grow our business because they are either great business mentors and therefore they can help us put our business back together. Or they are new clients, customers, or even more importantly friends!
A recession helps to remind us HOW to grow our business. It forces us to move forward in meeting our financial goals. It removes that cushion we are so used to sitting on and brings us back to reality. It makes us work hard for our business again, and when we are down there is only one way to go – up!