The Upwardly Mobile

Times are certainly tough for startups these days, but there are a few things you can do help your business brave the storm. Here’s The Upwardly Mobile’s list of the top five.

5. Network - When your customers can’t afford your services and your market is shrinking, there’s nothing like market to help you branch out. Expanding your network will help you meet new clients, discover hidden opportunities, and find support where you least expect it.  Go prepared to network with a purpose and a willingness to help others.
4. Have Good Support - It’s easy to doubt yourself when the economy is tight, but good support will help keep your business on track. In addition to the support of your family and friends, which every good entrepreneur knows is critical, it’s also incredibly helpful to find people facing the same kinds of issues. Try joining a small business or startup group and regularly participate in meetings. Not only is this a good way to work on your networking, but it’s also a great way to find solutions to the challenges that your business is facing.
3. Ask the Tough Questions - In a recessionary market, it’s important to ask yourself and your team the tough questions.  What do your customers really need?  How can you deliver it to them in a way that’s effective and affordable?  What changes can your business make that will deliver true value to your customers?  Go all the way with this one.  Recession-proof companies don’t simply cut prices to the smallest supportable margin.  They think about ways to help their customers avoid having to do so themselves.
2. Take Risks - While many businesses have frozen hiring and began a limping retreat towards what they believe are their core competencies (read: the old standby that doesn’t really add value to our customers), the best companies take risks based on the new opportunities the volatile economy presents.  Now is certainly the perfect time to launch a product that cuts costs, but there are a whole host of industry specific challenges that your business can help solve.
1. Persist - “Nothing in this world can take the place of persistence. Talent will not; nothing is more common than successful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan ‘press on’ has always solved and always will solve the problems of the human race.” - Calvin Coolidge