Survival and Marketing Planning
Today I ponder planning for surviving a recession (and some advice) and handling customers' reviews of your business.
Preparing for Recession
This week there is a lot of talk in Washington about preventing a recession.
The Fed took action Tuesday by lowering a key interest rate. President Bush prposed tax rebates.
Speaking of tax rebates, the state won't tax it. But The Lewiston Sun Journal reports that one lawmaker wants to make sure the rebate stays tax free.
Robert Reich, former Secretary of Labor in the Clinton administration, says it's not enough. He thinks the problem is the housing market and none of that will save it. He says we need foreign investment.
And he's talking about the kind of investment that only Middle East princes and Asian banks can muster. There's not much we can do to make that more likely.
The chances of a recession hitting Maine are beyond our influence. But that shouldn't mean we are helpless.
If a recession hits Maine, surely we can do something to soften its blow on our lives. Or maybe we can find ways to prosper.
What's your plan?
Some advice
Marketplace: You may want to refinance your mortgage.
Jeff Bogue's Financial Sense: Don't dump your stocks
Reviews not just for restaurant
If you own a restaurant, reviews are a part of business. Thanks to the Internet, customer reviews are a part of any business' reputation.
That includes doctors. NPR has a story about Web sites that allow patients to review and grade doctors.
I tried the two services featured and found Maine doctors in DoctorScorecard.com but not FindADoc.com.
This underscores a point I made earlier this month: customer-driven review sites need to be on your marketing radar.
Do you have a strategy to deal with restaurant reviews?
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