my channels
business · cars · dieting · diy · dogs · etiquette · fitness · frugal living · green living · health · home business · home improvement · jobs · parenting · self help · travel
more

how to, business, home, self improvement, saving money, frugal living, careers, small business, self help,
how to
business
careers
small business
self help
more...

How to Survive as a Small Business in a Down Economy


RELATED ARTICLES
How to Promote Your Small Business
Tools to Help Run a Small or Home Business
Down to Business - Ideas for the Business forum

I own a small electrical contracting business. You can just imagine the devastation we felt when the economy went belly up. It was so fast we were not prepared for what was happening. We were in total disbelief in what was going on around us.

Some projects we were scheduled to begin never started. Projects we were in the middle of came to a stop right in the middle. Businesses that were in the community for years were closing their doors. We never thought we would experience this kind of financial fall-out.

We had to go into survival mode. The same things we did when we started the company would be the same things that would save the company. Once we recognized that this situation was going to get worse before it gets better we had to react and change with the times.

Phone Service

The first thing we did was cut down on our phone service. This was a $450 dollar expense per month with the internet and business phone service that we no longer could afford. We chose

Magic Jack

. Magic jack is $19.95 per year. It connects to my computer and high speed internet. It’s paid for the year and I don’t have to worry about it anymore until it’s time to renew. The reception is clear and I get unlimited local and long distance calls.

Fax

Instead of spending a fortune on paper and again paying for long distance usage for faxing I switched to

My Fax

. My fax is $10 per month. With this internet option, there are different plans for the amount of faxes you send. The ten dollar plan was all I needed and I send a lot of faxes. This was a $100 savings for me compared to the traditional fax I was using. With My Fax, if I don’t need to print the fax I can just view and delete it. No more wasted paper. Your faxes are sent through your e-mail. I just scan what I need sent to my zip drive and attach it to my e-mail. You also get your own fax number for free. With this plan you also get a free 30 days to try out the product.

Internet

I had a package, or so I thought. My bill would always be $200 more than the package price. It was something about my usage, I would always go over. I got rid of the package and switched to Sprint. With

Sprint

I can use up to five computers on my Wi-Fi service and the monthly unlimited fee is $79.95.

Office

We gave up our office and we are sharing a space with a friend. This cut both of our rental costs in half. We decided to pool together with the community so we all would stand a chance. In the community we all barter for services. We offer electrical services in return for plumbing. Everyone buys their own materials and we do the work for free.


ABOUT THE AUTHOR
Debra Brown
Contractor,volunteer non-prof
Social Circle

MY STATISTICS
Level : Fz Author  [?]
15 Factoids published
28 followers & subscribers
+ 81 positive votes
MY EXPERT RANKINGS
#8 in personal finance
#24 in how to
#11 in business
ABOUT THIS ARTICLE
3 comments
Published 4 weeks ago
in response to: Recommended tools to help run a small or home business
+ 5 positive votes
SHARE THIS ARTICLE



NEW ARTICLE ALERTS
Sign up for notifications when new knowledge articles are published in topics relating to this article:
 how to
 business
 home
 self improvement
 saving money
 frugal living
 careers
 small business
Email address:

Get published. Earn money. Gain Web cred.
Apply for a writer's account on Factoidz.

Related Articles
How to Deter Fraud in your Business

How an MBA can help kick start your business

Persistence and visibility are the keys to promotion in business

How to Manage Business and Earning in the Technological Age: A Philosophical Understanding and the Scientific Approach

Small drips that ripple out of control: A great way to visualize your time management

How to Become a Successful Motivational Business Coach

How To Survive Losing Your Job

Republish this article [?]
You may republish this article with proper attribution to the author and Factoidz.
Click to highlight the text, then press Control+C to copy to your clipboard
Popular in How To
Budgeting: LEARNING to Take Control of Your Money

How good is Your Memory and How Can We improve It: A Trick to Keep Yourself From Getting Angry.

Screen Printing At Home Made Easy

How to use tells to improve your Poker game

How to make a Michael Jackson Thriller costume

How to Make Alcohol: an extremely cheap, fast, and easy way to make decent quality alcoholic beverages

View more How To articles
Popular in Business
Ideas for fun and unconventional jobs with a good salary

How to Impress Your Golfing Buddies with your Golf Etiquette Knowledge

Businesses partnering with PEO's can reap rewards in a down economy

Credit Checks: the Good, the Bad, and the Ugly

How to Find a Job as an Overseas Contractor

Using writer's guidelines effectively

View more Business articles
More Related
How to Comprehend the Importance of Language as the Art of Creative Communication in the Indian Way

Stalking: a cruel method of bullying and what you can do about it

How to Identify Bi-Polar Disorder in Your Children

What's the Difference Between a Hoarder and a Saver?

How to get over an abrupt relationship breakup

Choreographing your day: How to get more done by focusing on one task at a time

Comments & Questions
carol roach  Moderator: Psychology - 97 Factoids | + 479 votes

great tips
posted 3 weeks ago
Martha lownsberry  Fz Maven - 67 Factoids | + 327 votes

excellent tips.
posted 3 weeks ago
m s  Fz Author - 13 Factoids | + 19 votes

This is an excellent article and to read about it coming from a company that is going through tough time this year; I hope it does pick up for you all and great tips!!!
posted 3 weeks ago
Leave comment
You can sign in to comment under your Factoidz account.

Your name:

Email address:

Homepage (optional):

Comment:

Notify me of new comments