Seven Counterintuitive WayS to
trump a tough eConomy
Hard economic times provide excellent strategic It is far more conducive to wealth creation to focus
opportunities for entrepreneurs who are willing to on increasing your production, rather than on slicing
buck conventional wisdom. I work with hundreds of your expenses.
clients who are facing the changes in the economy,
and many of them are asking the same questions. Spend where your money will have the most impact.
In an effort to answer many of those questions here meet Less
is what I am currently advising for my clients: Control freaks meet. In good times, this inefficiency
is easily glossed over. But now is the time to
raise Salaries empower your people, set clear expectations and
When so many employers are reducing their work boundaries, and then get out of their way.
forces and cutting salaries, step up by showing your
employees how much you value Human Capital and
give them raises. Employees, contrary to conventional
accounting wisdom, are assets, not liabilities.
Savvy entrepreneurs recognize that each dollar
invested in raising salaries during economic
hardships leverages the loyalty and productivity of
employees far more than handing out comparable
raises during boom times.
Now is the time you need to get the best out of
your people. Increasing their salaries demonstrates
strength, vision, and importantly, gratitude for their
contribution to your success.

Spend more
Some great bargains are available now, for Instead of sitting around in meetings talking to one
those who have the courage to nab them. Many another, encourage your employees to get out and
advertising opportunities are undervalued and can improve contacts with customers and vendors. Your
be bought at discounted prices such as magazine, team members can’t spot any market opportunities
newspaper, billboards and radio. Prime the pump passing time in your company conference room.
now for future expansion.
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