Recession-proof Business Psychology
By Kane Mantyla
Kane Mantyla offers stress relief using floatation tank technology and biofeedback at Float Matrix.
I'd just like to point out something that I learned in sales. During recessions, the drop in sales is only 10-25%.
Yet, because of our subjectivity, we believe it is more.
Because of this, people tend to give half the effort because they don't think the money is there.
With people's effort 50% and the drop only 10-25%, it actually produces a 15-25% margin for the savvy to reign in.
During hard times, the smart actually increase business.
Also, if you are a wellness business, like many OPEN EXCHANGE advertisers and readers are, you can expect to do better during recessions because people are looking for relief from stress.
Businesses that do well during recessions:
- Media and Entertainment
- Bars
- Pizzerias
- Beauty Salons
- Bookkeeping
- Relaxation/Wellness Centers
- Health Care
- Funeral Homes
- Debt Negotiators
- Home repair, plumbing, roof repair, etc
- Auto repair
Keep your chins up.
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