Filed Under : 
Feb.19,2011Approved by:
Linda Maze, a Wedding photography Gainesville FL in Gainesville Florida
The Top Ten Businesses in a Bad Economy
According to One Coach the following businesses tend to succeed during a recession:
- Business Coaching
- Business Networking
- Alternative Fuels
- Environmental Services
- Health Care
- Nail Salons
- Discount Retailers
- Luxury merchandises
- IT and Technology Services
- Credit and Debt Management
It is debatable whether Nail Salons and Luxury products truly do succeed in a recession. Item #9 in my view should be graded higher in the list as businesses exercise technology to become more efficient and profitable during tight, recessionary periods. #3 and 4 are great forward look businesses, but they carry a premium and subject to positive government policy and regulations. Just know you need to be prepared for the long haul with Alternative Fuels and Environmental Services as demand will ebb and flow directly associated to the whims of the White House and Congress. Additionally during a recession, it is important to sell how much a company’s product or service can save the consumer and other businesses tons of money since the product or service offering is a premium price point offer. All virtually demonstrating the value over time and the benefits obtained. Glad to see my business at the top of the list! Businesses find out they need a Business Coach during downtimes—the smart ones know this before they get in trouble!
Real World Business Recession Tactics
Some areas which Sara Wilson keyed on in the Entrepreneur Magazine Article, “Trend: Economy”, which makes a lot of sense in this Economy…
— A Business Idea that is Working Right Now: CouponMom
- Stephanie Nelson started a website that teaches consumers how to save money buying groceries using coupons.
- 2008 Revenue has doubled and the site had over 1 million unique users in July. What a potential difference her Comprehensive Business Plan has!
— Local Scope: Due to financial pressures and an uncertain economic outlook, consumers are spending more time at home and closer to home.
- Consumers are frequenting local restaurants and entertainment establishments, which are more low key and less expensive.
- alternatively of traveling to Disneyworld, families are utilizing “staycations”, enjoying local area parks, lakes and beaches.
— Green Business: Organics are and have been bursting in growth and the outlook is very good. People want to eat healthy and feed their family healthy food even when things are tight financially. Green conservation is another growing business niche.
— Web Business: Why do you want the large expense and overhead of a brick and mortar type business? in particular when you can run most companies from the comfort of your home, utilizing the internet. All businesses need to consider online marketing and increasing web presence. The market is huge, yet competitive, so you need to do your homework and have some solid online marketing strategies.
- Web businesses are very competitive and the learning curve is significant if you aren’t familiar with web marketing techniques. Good SEO Strategy can explode the growth of company.
About the Writer – Frank Goley from ABC Business Consulting
Frank Goley is a business consultant, business turnaround consultant and business plan consultant for ABC Business Consulting. He has been helping companies to succeed for many years. Frank wrote his first business plan over twenty years ago. He is an expert in developing business plans, marketing plans, funding plans, strategic plans, turnaround plans, web marketing strategies, and project particular business plans. Frank is also a business coach and a web development, web marketing and web seo consultant. Frank is the author of a business plan book, The Comprehensive Business Plan Workbook – A Step by Step Guide to Effective Business Planning, and he has over 50 published articles and e-books on business success strategies. He also writes the Business Success Strategies Blog.
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