Comments on: How To Make The Recession Work For You – Entrepreneur University http://www.youngentrepreneur.com/blog/entrepreneur-university/how-to-make-the-recession-work-for-you-entrepreneur-university/ Young Entrepreneur Forums - your online discussion forum to share and talk about Entrepreneurship. A place to learn and to help others with starting, managing and growing successful business ventures. Thu, 09 Feb 2012 11:43:00 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: How to Make Money Online during recession http://www.youngentrepreneur.com/blog/entrepreneur-university/how-to-make-the-recession-work-for-you-entrepreneur-university/comment-page-1/#comment-2837 How to Make Money Online during recession Wed, 04 Feb 2009 04:46:24 +0000 http://www.youngentrepreneur.com/blog/2009/01/26/how-to-make-the-recession-work-for-you-entrepreneur-university/#comment-2837 [...] [Link dump]". If you liked this post, please consider promoting it Stumble !t | Digg it | Twit!t | Add to Ipad | Choosing the right DomainName [...] [...] [Link dump]“. If you liked this post, please consider promoting it Stumble !t | Digg it | Twit!t | Add to Ipad | Choosing the right DomainName [...]

]]> By: Will http://www.youngentrepreneur.com/blog/entrepreneur-university/how-to-make-the-recession-work-for-you-entrepreneur-university/comment-page-1/#comment-2836 Will Mon, 26 Jan 2009 22:34:17 +0000 http://www.youngentrepreneur.com/blog/2009/01/26/how-to-make-the-recession-work-for-you-entrepreneur-university/#comment-2836 Mark, There are many discussions that talk about types of businesses to start up and things to do to mitigate risks when a business is operating in a recession. One topic that hasn't been discussed are the caveats of starting a business in a recession. I'm new to reading entrepreneuraial blogs, so please advise if i've missed anything. Thanks in advance, Will Mark,

There are many discussions that talk about types of businesses to start up and things to do to mitigate risks when a business is operating in a recession.

One topic that hasn’t been discussed are the caveats of starting a business in a recession.

I’m new to reading entrepreneuraial blogs, so please advise if i’ve missed anything.

Thanks in advance,
Will

]]> By: Bob Foster http://www.youngentrepreneur.com/blog/entrepreneur-university/how-to-make-the-recession-work-for-you-entrepreneur-university/comment-page-1/#comment-2835 Bob Foster Mon, 26 Jan 2009 18:48:47 +0000 http://www.youngentrepreneur.com/blog/2009/01/26/how-to-make-the-recession-work-for-you-entrepreneur-university/#comment-2835 In general, I agree with all that Mark presented in his article. Branding; customer focus; marketing planning as an integral part of the business, are all part of any well managed company—regardless of the economy. Unfortunately, too many companies fail in these areas, and when the economy sinks, they scramble to catch up, and in many cases it is too late. So, here is my question for Mark: Say I have a company that has a serious cash flow problem, and I have cut costs everywhere possible. Now I have to make a choice between cutting my advertising expense, or terminating one of my most valuable employees (maybe the key to future new products)—which choice do you think I should make? This is not a made-up question. As a turnaround manager, I have faced this very dilemma many times, and of the 30 million businesses in the U.S. today many of them are facing the same, or very similar, question. Bob Foster In general, I agree with all that Mark presented in his article. Branding; customer focus; marketing planning as an integral part of the business, are all part of any well managed company—regardless of the economy. Unfortunately, too many companies fail in these areas, and when the economy sinks, they scramble to catch up, and in many cases it is too late.

So, here is my question for Mark: Say I have a company that has a serious cash flow problem, and I have cut costs everywhere possible. Now I have to make a choice between cutting my advertising expense, or terminating one of my most valuable employees (maybe the key to future new products)—which choice do you think I should make?

This is not a made-up question. As a turnaround manager, I have faced this very dilemma many times, and of the 30 million businesses in the U.S. today many of them are facing the same, or very similar, question.

Bob Foster

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