Ten Resources for Nervous Entrepreneurs

Posted by: Nick Leiber on September 16, 2008

With Monday’s dramatic global sell-off in the financial markets, you’re probably already aware that the credit crunch will only get worse. You’re also probably thinking the crisis isn’t over yet.

But if you run your own business, what else is top of mind for you these days? How are you dealing with the other effects of the shaky economy? What’s gnawing at the pit of your stomach? What’s keeping you up at night? Sound off in the comments section below.

But before you do, check out the collection of links to stories and multimedia below, intended to offer you a sense of what a number of your peers across industries say matters to them—and to revisit the strategies they’ve employed to stay afloat. You’ll get an idea of where your business stands—and you may be able to borrow a few of their smart ideas to use in your own shop. You’ll also see what we missed in our previous coverage and can suggest we tackle it now.

To start, take a look at our special report on raising capital in an economic slowdown. Be sure to catch our overview on the basics, then flip through a slide show on sectors most likely to suffer in a downturn.

Then learn about smart strategies in Don’t Let the Downturn Get You Down, Entrepreneurs Fight a Recession, and Getting a Better Deal on Commercial Real Estate.

And tune in to what experts have to say in podcasts Surviving in a Bad Economy, Selling a Business in a Down Market, and Anxious Organizations.

Finally, get some counterintuitive advice from our marketing and leadership columnists who advocate spending more, not less on both building awareness in Five Don’ts for Marketing in Tough Times and hiring and firing in Taking Advantage of a Down Market.

Reader Comments

Bob McClain

September 17, 2008 12:31 PM

As an Internet Marketing and Search Engine Optimization expert, this is when my phone starts ringing off the hook.

Business owners get really nervous and they do one of two things...

Either they pull in their horns and hope to ride out the bad times or they realize they need to fire up the marketing machine and make sure they, and not their competitors, get the dwindling business.

Misty Gibbs

September 18, 2008 04:04 PM

Perfect timing for these pointers. As a mompreneur who recently launched My Inspiration Lounge, I focused on collecting the best sites and articles for women to consider when launching an idea.

Explore at My Inspiration Lounge - Get Entrepreneurial:
http://www.myinspirationlounge.com/recommendations/get-entrepreneurial.html

Beth Ross

September 19, 2008 03:07 PM

Say hello to "Gorilla Marketing 101". It's time to spruce up the website, re-write the brochure and reach out to your old, current and potential new clients. We designed and run an on line promotional products store.

Shop @: www.upromoproducts.com

We recently did a direct mail piece for an investment firm in Boston. They were interested in helping new customers with retirement investing. Staying ahead of the stock market they told their customers we are rock solid and here to help. Positive thinking and doing always works.

Sparky

September 20, 2008 02:00 AM

GREAT resources. Thanks!

Sparky
http://www.smallbizpost.com

Sarah

September 23, 2008 10:15 AM

Pricing is always a big thing in my business. I run a jewelry company with mid-level prices and we recently introduced a new affordable line with our current economic situation.

After reading an article in Monetary Intelligence magazine, http://monetaryintel.com, instead of going for the lower to middle range (who wants to compete with Walmart?) I am inspired to target the affluent clientele - up to 90% of their income is dispensible, versus 5-15% in the lower brackets. It's about creating the value and quality experience.

Post a comment

 

About

What's it like to run your own company today? Entrepreneurs face multiple hurdles new and old, from raising capital and managing employees to keeping up with technology and competing in a global marketplace. In this blog, the Small Business channel's John Tozzi and Nick Leiber discuss the news, trends, and ideas that matter to small business owners. Follow them on Twitter @newentrepreneur.

BW Mall - Sponsored Links

Buy a link now!