While everyone else is cringing at the next news story touting recessions and cutbacks, these three business types are predicting growth.
To stay ahead of the competition, steal a page from these recession-proof winners:
- Discount Retailers – Stores like Wal-Mart, BJ’s Wholesale and Costco are looking a lot more attractive to buyers. They specialize in bargains, and that’s what people are in the market for. You can follow their example by reworking pricing systems and offering discounts on larger purchases. It could put you ahead of the competition by making your product more attractive to cash-strapped customers.
- Career Advisors and Job Sites -Employees who feel like they’re on a sinking ship are getting in touch with career advisors ASAP. Sites advertising high paying executive jobs are also getting a lot more traffic from job seekers. They do well when people are scared. By finding out what fears abound in your industry – and highlighting how your company is dealing with them – you can make vendors and customers more comfortable dealing with you. They’ll know your company’s in tune with their needs, understands the situation and is here for the long haul.
- Mechanics – Mechanics are seeing an upswing in people fixing their vehicles instead of buying a new one. Oil changes, tire rotations and other basic services are also on the rise. Customers of all types are stretching their dollars, so instead of buying new they’re making do. Servicing or fixing products may not pull in as much revenue as selling brand new products, but it keeps customers coming back. Bonus: When times aren’t as tough they’re more likely to buy new from you because you stood by your product when money was tight.