How Can Small Businesses Survive Economic Downturns?

I hear a lot of small business owners saying things like: "The government bailed out the big guys, the little guys?" "What about us?" I say let them keep their bailout money to Washington. I know that I start my small business with the intention of using government money to survive. I've learned that nothing is free. I prefer to rely on their ingenuity to survive this economic downturn. As any business owner knows - it's not easy. If it was easy everyone would be his own business.

In times like these, you have to be smart about the costs and revenues. We are very loyal to our suppliers. Because they are very loyal to us right now. They lend us that they May not others. Why? Because we stuck by them over the years and has not jumped ship to save a nickel on the dollar. Loyalty. notion that seems to be forgotten now a days. When you receive it may be tempting to find new suppliers that can save you money. Again, I warn you to stay loyal to their suppliers and it will come back around and help you when you need it.

to communicate with their suppliers and customers on a regular basis. Most people will work with you as long as they were informed.

I've never found it easy to lay off workers. As the leader of our individual companies still have to watch out for the greater good. It is making sure those laid-off employees have a job to go back in. Sometimes it makes more sense to get out of your office and back on the production floor to help.

Control your overhead. Controlling your overhead is crucial at all times, but especially now. Considered to be four days of the week, so you can keep the light and heat from the three days rather than two. One of the biggest expenses most small business health insurance. Talk to your provider about how to save money. Maybe it May be time to eliminate health insurance altogether. Consider again the greater good - has a business of your employees can return to or stay in. Do not let the health insurance you run out of business. There are ways to save money on your workers compensation insurance by enrolling in the Drug Free Workplace programs, and many others. Talk to your company or your risk of local workers' compensation company. Cut your own salary. This is where we start when it comes to controlling overhead. Learn how little you need to survive. This will carry over, of course, in your personal life. Learn what you can do without. If you can go several weeks or months without checking to do. greater good of the game here. These are tough decisions to make, but it can help.

Entrepreneurship, by definition, risk taking. It is not for the faint of heart. Small business owners should be able to be flexible and creative in times like this. I heard Glenn Beck said on his show that this world does not want anything that America can produce. It is a complete and utter Bologna! We are still the most productive and ingenious people in this world. Small businesses make this country what it is.

Treating our customers like family is the reason why we will survive. Supplying the best products available is why we will survive. Our blood, sweat and tears is how most of us start our business, and that's how we'll survive this. It is not a bailout.