recession
Let’s talk about different economic conditions.
Let’s talk about the stagnation and start of business in these conditions.
Because even in the global financial crisis of 2007-8, many of today’s big companies started to set up their businesses.
Let’s talk about some reasons to start a business:
1- People want innovation:
Because recession causes many problems and consumers are looking for new opportunities.
2- People want to save their money more in these conditions:
So start a noisy business with a low cost, because the customer in this situation is looking for expensive goods and the best opportunity to help people to save more money.
3- Specialized people looking for Karn:
Many companies and groups are retrenching due to the economic conditions and the crisis of the corona virus. So you can find many experts who are qualified and willing to work at a lower price
4- Buying cheaper goods and equipment:
Of course, it depends on you how well you can make a good purchase in this situation and fulfill your needs from the business of selling goods for sale at a reasonable price.
The old people had a proverb that said:
Profit, you are a good buy
5- The interest rate is low, so credit is valuable:
What is Yeni? This means that the central bank lowers the interest rate to increase consumer spending and it is a good condition to get a loan and start your business.
6- Fewer competitors:
Competitors last less because they have less financial resources, so if you have a startup or business, bootstrap. It means that by increasing your income, replace your capital and invest in your startup and think less about borrowing from others and getting credit in any way.
This way you have a higher chance of success.
But, a few suggestions:
1- In the recession, we are facing a cash flow problem, and an effective way to compensate costs is pre-sale.
2- Secondly, the presence of a positive cash flow is very effective, so you can continue smartly and correctly with bootstrapping until this situation ends.
3- Focus on selling products or services based on necessity, not any new product or service that wants to create a new market.
4- Guerrilla marketing can help your business a lot, get ideas from it with a simple Google search.
5- Have a special look at the small corner market
6- Be more creative in your income streams
7- Be sure to give discounts to your major customers.
Because by giving discounts to many big businesses or major buyers and closing contracts, you can cover many costs. So it is worth giving a special discount to your big customers.
8- In this situation, people are looking for happy things and entertainment.
Because the study of financial crises in the world has proven that people in unfavorable economic situations lead to more fantasy things, the most prominent example is the financial crisis of 12 years ago in Europe, which raised the heels of the shoes and was welcomed and is a very good example. no more
9- Establishing effective and wider communication with the supply chain
10- Survival is the first condition and then development
However, people look for excuses to buy to meet their needs.
Therefore, it is possible to answer the needs and mix it with happiness in this situation so that the business will prosper and create entertainment for the customer.
sincerely
@startup_30T
This post is written by Rimaazz1