How to Avoid Recession in Your Online Business

After a record breaking decline in the US stock market, shaky consumer confidence and high unemployment rates, many “talking heads” in the media are talking about the very real likelihood of a full scale depression, similar to the one in 1932. The fact is that American consumers are spending less, driving fewer miles and many in the retail sector are anticipating a lower fourth quarter earnings. With new companies closing daily and the unemployment rate may top million in 2009. How does it all affect the average home based online merchant? Many of whom have already seen a decline in sales and traffic. So what do you do? Interestingly enough, the other day a friend of mine said something I thought was extremely profound and it totally re-framed my own outlook on what's going on in our economy and in many ways how we run our... [read full story]