10 ways to beat the recession depression
Introduction
Most businesses will be concerned about the impact of the recession, but you don't have to let it get you down. Find out how to stay motivated during the economic downturn
- Maintain relationships. Make sure you hold on to customers and suppliers by keeping in regular contact with them. Consider taking your best clients out for an end-of-year meal to thank them for their loyalty and to keep them on side.
- Exercise strong management. It is crucial to make strong management decisions and follow them through. Update your business plan on a regular basis, and be prepared to adjust your strategies and targets. You will feel more confident if you are taking control of the situation.
- Retain your passion. However much pressure you are under, don't lose sight of why you started the business in the first place. If you have a genuine passion for what you are doing, you will naturally have more energy to overcome difficulties.
- Network with other business owners. Spend time with other small-business owners, perhaps by attending local networking events. You might pick up some tips on how to resolve the problems faced by all small firms, while also building up useful contacts.
- Seek support. Ensure family and friends are supportive, and that they understand when you need to work extra hours. Be prepared to seek additional support from a professional adviser or to bring a mentor on board to gain an impartial viewpoint.
- Create a comfortable working environment. You may have to work long hours, so don't forget to take basic steps to ensure your workplace is comfortable. As trivial as these might sound, they can improve your productivity. Ensure your workplace is a comfortable temperature, your chair is at the correct height for your desk and you aren't straining your eyes to see the computer screen.
- Celebrate success. If a contract is won or a big project completed, get staff together to celebrate. Equally, if someone has some personal good news they want to share, let everyone know in an email or make an announcement.
- Build a team atmosphere. If you have staff, incorporate team-building exercises into training sessions to reinforce the feeling that everyone is in it together. Organise an after-work drink or staff lunch to help generate a friendly atmosphere and keep everyone's spirits high.
- Reward people. Buy staff a small gift in the run-up to Christmas so that they feel that you appreciate their efforts. Equally, providing your most loyal customers with a discount will show that you value them.
- Take some downtime. Ensure you are taking enough breaks away from your workstation. If you have employees, look at their calendars and encourage them to take any outstanding holidays. You might benefit from taking at least a day or two off to relax and refresh yourself for the challenges ahead.
For more information about staying motivated during the economic downturn contact a Business Link Customer Service Adviser by telephoning 0845 058 6644 or request a call back at your convenience.
