Like it or not it's time we took a deep breath and admitted it.

The dredded 'R' word is upon us.

Recession!

I was in the USA a couple of weeks ago where a staggering 20,000 families a week are losing their homes to foreclosure. Here in Australia house prices are falling like a stone.

Foreclosure is the legal process in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property.

When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that "the lender has foreclosed its mortgage or lien"

How the Recession Affects Business Owners

One knee-jerk reaction is that people cut back on their advertising and marketing budget.

Cut your overhead expenses by all means – not your marketing budget!

You need to think of your marketing dollars in the same way that a Farmer thinks of the seed he uses to create a crop.

When times are hard, I always have the same advice to business owners – now is not the time to cut back on marketing! If anything you need to market more.

Of course you need to make sure that you need to choose the right marketing mediums for your specific business and it stands to reason that you need to have proven marketing systems in place.

That said, if you want a bigger harvest – start planting more seed!

Finally, you need to make sure that you both track and measure your marketing systems so you can ditch the ones that don’t work and strive to improve the ones that do.

New Video Series Starts This Week

I will be posting a new video series this week  to show business owners how to beat the recession. make sure you check it out.

Each video will focus on one easy-to-apply tip, technique or idea to help your business thrive and prosper in the hard times ahead…