How to survive the credit crunch

Wendy Reeves offers her top tips on surviving and thriving in the credit crunch.

Mind Set
Think positive and focus on what you can do and influence, rather than on what you ‘can’t do’. Negativity is unhelpful and gets you nowhere.

Talk
Don’t do it alone. Others are feeling it too. Share ideas, and look at ways to overcome obstacles. Two heads are better than one.

Be self-aware
Stress and worry leads to loss of motivation and procrastination. If you feel stressed, seek help to get you back on track and in control.

Look for opportunities
Diversify and look out for possible alliances.

Join a business or social networking group
These offer fantastic support mechanisms as well as sourcing new leads (on the business side).

Action
Don’t get caught in the activity trap. Action is what achieves goals and moves a business forward.

Get your house in order
What do you need to do now? Keep your eye on costs; look at your credit control process, etc.

Apply the 80/20 rule
Instead of using up 80% energy and resource for 20% profit, turn it round and use 20% resource for 80% gain. Where is your main income coming from? Ramp up your low key marketing and max out on your networking for example.

Know where you are going and be prepared
Review your business/action plan, consider the ‘what ifs’ from all eventualities.

Stick to a healthy diet and exercise regularly
This will help you sleep better. You will reap the rewards by performing more efficiently and sustainably. 

By Wendy Reeves
Wendy Reeves runs LifeGoal a lifestyle business, providing coaching services.