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Step 3: Cut costs with a scalpel, not a chainsaw!
On a recent trip to Canada to compare economic news I was impressed by a recent article in Fortune magazine (December 15, 2008) where they ask 3 experts on how to cut costs during a recession. The experts were: An executive of a low cost airline, [...]
Step 2: Remember that some business can do well during a recession!
It’s normal to think that all businesses have difficulty during economic periods like these - not so. In fact some businesses do better. Let’s consider a few examples:
Candy:
It is a known fact that candy business is likely to fare better than other nonessentials [...]