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Did you know that the Census Bureau says that 1 in 7 Americans live in poverty? That is a scary figure considering that many of these people are working, but are struggling to make a living because of the pay scales and the economy woes the last few years.

I have noticed many small businesses in my area are now closed due to the aftermath of the economy downturn. This affects all of us in many ways and the city. When I visit my in-laws in Middletown, Ohio and drive through downtown, it looks like a ghost town with bare windows and old out of business signs.

If you own a services business like appliance repair, you need to do everything possible to expand and search out other revenue channels to keep the health of your business strong. Never rely on only one area to conduct business. A business needs to think differently by expanding the territory in which they offer services. If your local service area is suffering from the economy downturn, many people in that same area are affected too. This will have a negative impact on your business.

There’s no such thing as a sure thing in business. You have to stay ahead of the curve. The current economy climate is affecting small businesses also referred to as mom and pop. Whether you’re a Atlanta Handyman or a company that provides plumbing services in New Jersey, you need to increase your reach for new potential customers.

Avoid being a statistic!

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About the author: Frank Jovine

 
 

5 Comments

  1. Great Post, Frank!

    I live in Michigan, which has been one of the harder hit states in terms of the recession. Some of the small businesses I’ve seen thriving have done just what you have suggested above. A few have been successful at leveraging their trusted brands to expand into adjacent verticals with great success.

  2. Times have been very hard for many. We see this everywhere in the United States and entrepreneurs must look for new ways to be profitable, to create jobs, and to help put Americans back to work.

  3. I am watching the State of the Union and I believe you are as well.

  4. Staying ahead of the curve, and innovating constantly is the name of the game!
    If you don’t keep running, you get left behind.
    Thanks for this post!

  5. I started my business doing air conditioner and furnace repair and then expanded to doing appliance repair. This article really resonates with me!

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