How The Recession Can Boost Your Business Savvy

The media is full of stories of economic downturns, bankruptcies, and businesses going out of business. While you can look just about anywhere and find the “bad” that is out there, the recession can actually do small businesses some good as well. Instead of bemoaning your situation, change it around and find some positive aspects to focus in on.

Its been said that some of the strongest, healthiest companies in the world were started during hard economic times. It may be because you have to watch how you spend your money and what you invest in. Here are a few things that can help you increase your business savviness over the coming months.

Make savings a priority

Because we’re in the middle of a recession with no clear end in sight, assume this is the new “norm”. What can you do today to make next year at this same time even better? Getting loans is more difficult than ever. Lines of credit are all but extinct. And the last thing you want is to bring on more credit card debt. Make a conscious effort to live within your means, and create a savings account now for life’s little emergencies. Even if you can only add $50 a month to it, consider it as an investment towards your future.

Pay debts on time or ahead of time

When you are living paycheck to paycheck, every dollar counts. And if you fall into the “fee” trap you’ll quickly find yourself in a difficult position. Banks don’t make money if you pay on time; they like the clients that don’t make payments, have their interest rates go up, and are assessed fee after fee for late payments. Make it a habit to pay ahead of time, or at the very least on time. [Read more…]

The 5 Traits You Need To Succeed In A Poor Economy

It’s hard NOT to wonder what the future holds. The news is filled with gloom and doom: riots, debt crisis, failing businesses, and unemployment at all time highs. And depending on whom you believe, a quick fix isn’t around the corner. This may take months, even years to fix, not just a few weeks.

If a poor economy is likely over the coming years, do you have what it takes to create a business that is strong and thriving? Just as many successful businesses are created during hard times as they are the good ones. So it is possible. But there are telltale signs that pave the path to success. Do you have the traits necessary to move forward in a positive way?

Hard Working and Smart Working

While a lot of business advice focuses around the “4 hour work week” concept, the truth is it does take more than 4 hours to establish a new, successful business. It takes a lot of hard work to build a concept to the point of it becoming profitable, and give you the wealth you need to sustain your lifestyle.

While hard work is necessary, you also have to find ways to work hard on the concepts that matter the most – and that’s where you really can learn from the “4 hour work week” concept. The idea is to work smarter with the hours you are given. Instead of spending hour after hour working on things you don’t like or aren’t good at, give that to people that can do it, freeing your time up to do what you love.

When you combine the two concepts together, you can quickly know which concepts will earn you money, and which ones will waste your time. You’ll see which ones will move you forward, and which ones will hold you back. [Read more…]

How To Grow Richer The Tougher It Gets

Let’s say you are thinking of opening up your own photography studio. You really want the freedom of owning your own business, but you’re just not quite sure how to set it all up to make a bundle over the coming years.

Right off the bat, you know things aren’t going to be easy. Just look around you.

Jobs are more and more at risk every day. And it seems the longer you have been in a position, the more at risk you are.

Pay raises? Not in this market. People are lucky enough just to keep their job; pay raises are few and far between.

Stock increases? What’s that? Even the equity in your home is dwindling by the day. And with foreclosures at an all time high, each passing month is bringing new challenges to our economy. (And it’s not just the American economy; this is moving worldwide even as we speak.)

So taking all of that into account, is now really the best time to open up a photography business? How can you launch your products/services and make the highest profit levels possible?

Yep, there is still opportunity out there. I see four big areas of opportunity for all photographers… [Read more…]

Recession Proof Your Photography Business

Recession Nears

Transform The Economy Now

Thousands Lose Their Jobs

The headlines go on and on. As a person with a job, the news may be a little frightening. But what if you own your own business? What if you’re just getting started building your photography business, and you’re getting a little nervous about your possibilities?

Can you really keep your studio open and running if we head into a recession?

Overwhelming, the answer is yes.

Through all the ups and downs, there will always be a need for good photographers. Business will proceed as usual IF you know how and where to look for business.

During a recession, it’s not about knocking on doors, becoming the best cold call salesperson ever. It’s about building strong,… Read More>>