This article are provided for information purposes only, and are not intended as legal advice.


Business opportunities in a poor economy

March 5th, 2009

Many businesses are finding that the current business environment is very challenging.  Revenue for many firms is lower than prior years however, many firms have reduced overhead therefore are able to maintain their profitability.  Many firms are downsizing therefore there is an opportunity to pick up very experienced talent from competitors who would normally not be available to hire. 

 

Do you hire these senior people anticipating that revenue will increase?  You have increased your management team therefore can handle the additional growth when the economy improves.  Many people may be key sales personnel who could bring business to you.  Good sales people are hard to find and if you can find one, pay them a base salary but if they generate revenue soon they hopefully can become a profit centre in the near future.  Initially, they may not be able to approach their prior clients for a period of time however the amount that they can bring into the business may far exceed the short term cost of paying their salary for the initial period.


Filed under: Business opportunities — Gary Landa @ 12:48 pm


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