Growing Business During A Recession

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March 11, 2010

Can you grow your business during a recession? Historically, small companies can thrive during an economic downturn due to weakened competition and corporate cutbacks that level out the playing field. According to a survey conducted for Intuit, 9/10 of small businesses see opportunities for growing business this year. It’s this planning of growth that keeps 27% of entrepreneurs up at night, next to the 21% who are concerned about scraping up enough money to pay the bills. By taking a look at some of the thriving entrepreneurial success stories, we can learn a thing or two about leading a bright vision through the dark tunnel.

It was the year 2000. Silicon Valley was launching a new high-tech startup everyday. Business parks sprung up and it didn’t take a rocket scientist to figure out that something transformative was taking place. Meanwhile, two buddies — Adam Lowry and Eric Ryan — were making market plans as well… only theirs had investors laughing, rather than shelling out cash. Even though no one was biting on the concept of neatly-packaged, environmentally-conscious soap and hygiene products, they knew they could appeal to a younger, hipper audience with their products and give giants like Proctor and Gamble a run for their money. For Lowry and Ryan, growing business is about doing it yourself to save precious cash (like mixing soaps in bathtubs and bottling it themselves); it’s about continuously selling your concept to your vendors and other venture capitalists; it’s about constantly fundraising. As Ryan says, “The hungriest wolves hunt best.”

Google is perhaps the most famous success story of growing business during a fragile economy. After the dot-com bubble burst, no one thought an internet-based business could ever fly. There was so much mistrust, anxiety, lost investment and disillusion that it didn’t seem likely Google could make it. “We looked at all the past recessions from 1950 on and we found that direct mail — Google’s most direct predecessor — actually grew during six recessions,” explained Cowen and Company analyst Jim Friedland. Some of their success is attributed to working across channels and offering a diverse line-up of products from email, search and news to maps, video content and online books. Their ability to engage in community marketing online, on television, in newspapers and on the radio has helped them get ahead during tough times, but the bottom line is that Google has a great and innovative product!

Of course there are many other stories about growing business during recessions. Consider that a 26-year-old Prussian immigrant Adolph Coors began his legendary brewery near Denver back in 1873, despite fierce competition. Beginning with just $32 and a dream, 29-year-old William Wrigley Jr. began manufacturing soap, baking soda and chewing gum until he finally got his market plans right. In 1907, James Casey borrowed $100 to start up the first United Postal Service in Seattle promising gold rushers that his mail would be on-time and delivered by tidily dressed employees who were courteous at all times. Hopefully, these stories will inspire you to pursue your own aspirations one day.

Jeremy Larson is a foremost expert in the acid reflux home remedies field. His work has been extensively published in various online publications in the areas of acid reflux home remedies. For more information on the treatment, visit remedyforacidreflux.com.

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