What The Recession Should Have Taught You

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photo credit: optimal tweezers

During this recession we have all seen many changes in business including some closing, cutting of staff, higher prices in some, shorter hours of operation and more. With all of this change going on and hard times, there are many lessons that should have been learned as suggested on Open Forum.

Start really focusing on customer service. Yes this should have been a priority all along, but more now than ever it should be at the very top of your list. Customers have come accustomed now to shopping everywhere to find the best service and prices for their time and money, so make sure you are at the top of their list.

Rather than lowering your prices, try to think of ways that you can repackage or reevaluate your product so that you can add more value to the brand and product for your customers.

Keep long-term objectives. Those growth projections, innovations and market opportunities you identified last year are still valuable drivers for the long-term health and direction of your business — don’t abandon them.

What have you learned throughout this recession?

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