Thursday, August 14, 2008

Buckling Down for a Recession

Good advice for any smaller business - and while it's written for the ad agency world, the advice makes sense (Ad Age):

  • Keep what you have while getting someone else's.
  • Great agencies shine brightest during dark times.
  • Work hard even when there isn't a lot of work going on.
Concluding: "It is easy to become discouraged, and even a little frightened, by a bad economy. Small agencies are especially vulnerable. But much of the failure is caused not by a bad economy but by the fear of one. Those agencies that pursue their goals regardless of the economic situation will have much more success than those who allow it to dictate business decisions." Of course as I've noted before, having your own business requires the emotional (and financial) fortitude to ride out the storms but clearly when the economy falters this effect can be amplified.

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