What History Has Taught Us

Don’t let fears of a recession discourage you from starting or expanding your business. During economic downturns, it is widely believed that the business failure rate is high, consumers quit buying, and the economy drastically shrinks. Common wisdom (and the media) recommends that business owners adopt a “hunker down” mentality and hope for the best for their businesses.

However, history tells us otherwise. Economic downturns can create a great environment for you to start and expand your business. Costs are lower, and consumers are looking for alternatives and stability. The Great Depression created more millionaires than any other period in US history. Companies like Kellogg’s, Purina, Texas Instruments, and KFC all greatly benefited from the Great Depression.

Even now, the economy isn’t nearly as awful as many would have us believe. Texas home sales peaked in 2006 (and are still much stronger than the 1990’s), and January 2009 retail clothing and electronic sales were up. Stores selling luxury items like Coach and Nieman Marcus, continue to see profits as well.

But how do you profit? Most importantly, you need to stay alert and work harder. Improve your customer awareness and experience, make smart investments in growth, and increase your marketing. Be willing to do what others won’t do and do whatever it takes to expand and grow your business. If history teaches us correctly, many of the companies who work hard and make smart decisions will find themselves profiting from the current economic situation.

The PowerPoint “What History Has Taught Us” will show you who profited from the Great Depression and how you too can take advantage of an economic downturn. Check it out!

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