Chief Executive at Surrey Economic Partnership asked:
‘With the potential of a ‘long L’ recession, what are you doing to reduce costs, increase customers, generate liquidity, and promote your USPs?’
Here’s my response:
Interesting question Mark, however, the recession has been nothing but positive for my business.
Growth in my business to date in 2009 is 44.5% – I did the figures yesterday.
’tis true I am in a business that delivers savings for home and business users in their usual costs such as telephone, broadband, mobile, gas and electricity, and equally they are award winning, so that helps, however, people also have the opportunity of creating additional income streams on a part time basis, and that is probably the key to the continued growth throughout the year.
Paid overtime has all but disappeared for many, as have part time jobs paying a reasonable wage, so the fact a person can work with our business and collect £25 for 30 to 45 minutes work and then get commission on top ….. ongoing, is a real boon.
I am finding that people who become involved are quite typically mid-40s plus with a family, who are clearly going to be hit by the latest tax rises. In addition, business owners who have an existing database of customers and are able to market our non-competing range of services.
The idea of multiple streams of income is very appealing to owner managers.
Robert Kyosaki in his book, Rich Dad, Poor Dad has always been an advocator of such an approach, and it fits with today’s economic climate.
Yesterday, it was suggested that interest rates would remain low (0.5%) for many years to come, and the launch of a 5% CashBack card in 2008 as an added benefit to the services above has really come to the fore in the last few months as people seek ways to make their money go further.
I have no idea of the policy of this group with regard to posting links in responses, so have decided not to, however, if you or anyone wishes to know further, please contact me and I shall point you to various websites and make available PDF’s.