We’ve all heard plenty on what to do amid the current global economic slowdown. But what about what NOT to do? Here are a few ideas:
- Don’t reduce your marketing spend. Successful businesses realise they need to do more, not less, when times are tough.
- Don’t cut your career development/training/ further-education budgets. Learning new ideas and brushing up skills can be the key to riding the storm of a recession.
- Don’t put all your eggs into the ‘need to get new clients’ basket.
- And certainly, don’t disregard your core customers.
- Above all, don’t panic. History has shown that economic downturns ALWAYS come to an end.
And always DO remember what comes after a downturn: an upturn — hurrah!
