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General Contractors, Subcontractors, Architects, Engineers, Vendors and Suppliers
What are all the seminars and news articles saying to do while times are slow in this industry?
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The Answer:
Cut Costs & Start Marketing
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U.S. Small Business Administration recently published an article:
14 Survival Tips for Managing During an Economic Downturn
#10. Similarly, don't skimp on service and quality by being understaffed - Options include freelancers, consultants, and part time employees.
#12. Historically, many businesses reduce advertising and promotional expenditures rather than slash fixed costs during hard times - However, studies have shown that those maintaining or increasing ad layouts during slowdowns wind up outselling rivals who cut back.
#13. Another mistake during recessionary times is to reduce training budgets - Training can best be conducted during slack periods. Especially low-cost, on-the-job instruction and broadened skill acquisition. Also, local community colleges offer a number of free classes that teach and upgrade trade and office skills and supervision techniques.
