With yet another recession looming, it often looks like our country is suffering from an economic depression. Jobs are scarce and many major corporations have closed many buildings across the country. Things may appear bleak now, but you can work through it. This article can help you navigate your way through The Great Recession.
Do everything you can to make sure your customers are satisfied. You may want to include a handwritten thank-you note when you ship items. You could also consider including a free item with their order. People like to have free stuff, and they also like being appreciated. Prove to them that you appreciate them as customers.
If you market products that are your own creation, price out how much it costs you to make a single unit. You don’t want to lose money by charging too little. If you want to sell the product wholesale, you would take how much it cost you to make it and multiply that by two. Two times the price of the wholesale cost equals the standard retail markup. Sometimes following this rule is not ideal. Be sure that your price is something that benefits both your client and you.
Remember to stay on track when working from home by not getting caught up in non-work related activities during times when you should be working. For example, don’t use your break to have a half-hour phone conversation with your family or start a complicated home repair. Refresh your mind and body with active breaks like a short session of exercise or working in the garden.
Discussion groups are available online that are filled with professionals running businesses from home. This will allow you to network with others in your field and spread the word about your business. You’ll be surprised when people start to ask you about making connections, so do this.
Research current market prices for any product or service you are selling. Make sure to know the full range from high to low. Try to compete with your competition in terms of pricing. It is unprofessional and generally a bad business practice to speak negatively about your competition. Pay attention to your own business and run it ethically and professionally.
While our country’s economy is failing, that doesn’t mean yours has to. You might be concerned that your family will not survive. Hopefully these tips will help you deal with this new Great Depression.