Most people think recessions are bad for business. But I\u2019m a silver-lining-in-the-cloud-type of guy. Here are a few things that represent the upside of a recession:<\/p>\n
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1. Competition Can Get Conservative.<\/strong> In recessions, many organizations look to cut costs. Some of those costs can be marketing costs. So, if your competition cuts its marketing and you sustain or increase yours, you can gain market share. It\u2019s even better when your competitors go out of business.<\/p>\n 2. More Talent Is Available.<\/strong> Recessions are invariably characterized by higher unemployment. That means that more good talent becomes available. It\u2019s a great time to hire!<\/p>\n 3. Suppliers Lower Prices.<\/strong> Many suppliers see their revenues drop during a recession. So they may drop prices in order to stay afloat. It is a great time to leverage that fact and lock in some good pricing for the long term, thereby improving your company\u2019s cost structure.<\/p>\n 4. Recessions Don\u2019t Last Forever.<\/strong> Some organizations panic like it\u2019s the end of the world with cutting marketing, laying off their workforce, etc. Then they are poorly positioned to resume business as usual once the economy rebounds. The way I look at it, if the economy could withstand \u2013 and prosper after \u2013 9\/11, the dot com bust, and the Enron-type scandals all happening substantially at once, it can recover from anything!<\/p>\n As Next Level Purchasing continues its aggressive growth trajectory, you better believe we\u2019ll be led by these principles.<\/p>\n Recession, schmecession.<\/p>\n","protected":false},"excerpt":{"rendered":" Most people think recessions are bad for business. But I\u2019m […]<\/p>\n","protected":false},"author":12,"featured_media":4036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"\n