Comments on: Economic Crisis: What to Do? http://www.jaredreitzin.com/economic-crisis-what-to-do/ JaredReitzin.com is a resource for the optimistic entrepreneur who is trying to build something from nothing on a shoe string budget. Learn how to find the right people, make and market a great product, budget your finances, and successfully communicate with employees, clients, and partners. Sun, 01 Jan 2012 06:30:46 +0000 hourly 1 http://wordpress.org/?v= By: Joe Vlcek http://www.jaredreitzin.com/economic-crisis-what-to-do/comment-page-1/#comment-8439 Joe Vlcek Sun, 12 Jun 2011 16:46:06 +0000 http://www.jaredreitzin.com/?p=119#comment-8439 It has been a few years since the collapse. I know many businesses are still hurting, but I am curious how your business survived 2008-2009. Post what you did. Late summer of '08 my business was barely getting by and profits were suffering from the recession. I did not have the resources to cut costs while maintaining revenues and profits. I started to search for buyers. I eventually found a competitor who would buy my business in late '08. I took the cash from the sale and invested it in very strong companies who I knew would make it through the crash. I doubled my money in December '08 just through the stock investments. Cash proved to be king in late '08 and '09. I took some time off after that and then started a SEO firm at the beginning of 2011. How did you survive the past few years? It has been a few years since the collapse. I know many businesses are still hurting, but I am curious how your business survived 2008-2009. Post what you did.

Late summer of '08 my business was barely getting by and profits were suffering from the recession. I did not have the resources to cut costs while maintaining revenues and profits. I started to search for buyers. I eventually found a competitor who would buy my business in late '08.

I took the cash from the sale and invested it in very strong companies who I knew would make it through the crash. I doubled my money in December '08 just through the stock investments. Cash proved to be king in late '08 and '09.

I took some time off after that and then started a SEO firm at the beginning of 2011.

How did you survive the past few years?

]]> By: Sales Force http://www.jaredreitzin.com/economic-crisis-what-to-do/comment-page-1/#comment-5328 Sales Force Fri, 08 May 2009 02:48:40 +0000 http://www.jaredreitzin.com/?p=119#comment-5328 Visiting your blog after a month or so & gave a glance at some of your posts. Your point about the Staff Review is really appreciated. Visiting your blog after a month or so & gave a glance at some of your posts.

Your point about the Staff Review is really appreciated.

]]> By: Entrepreneur Success Blog » Blog Archive » Grow Your Business in 2009 – Five Tips for Success http://www.jaredreitzin.com/economic-crisis-what-to-do/comment-page-1/#comment-3951 Entrepreneur Success Blog » Blog Archive » Grow Your Business in 2009 – Five Tips for Success Mon, 24 Nov 2008 20:29:05 +0000 http://www.jaredreitzin.com/?p=119#comment-3951 [...] 1. Save Money: In this economy, cash is king, and with credit being hard to come by these days, make sure your business has ample cash. This should be your top priority, which is why I have listed this at #1. I heard a line the other day: “raise your own round.” All companies can do this simply by leaving no stone unturned. I got sick for nine days in September and it was the best nine days I have ever spent at home sick. It gave me a chance to clear my mind and pour over our financials. I was not distributed by phone calls and the day-to-day tasks of running the business. Maybe getting sick isn’t ideal, but think about getting away for a couple of days and focusing solely on saving money. I put a plan into action during that time that ultimately led me to save mobileStorm close to $40,000 a month. I looked any possible redundancies, I looked at vendors we were spending too much on and asked them for discounts, and we got rid of services we didn’t really use or even realize we weren’t using. The most important thing you can do right now is get profitable. Read my previous post on tips for saving money. [...] [...] 1. Save Money: In this economy, cash is king, and with credit being hard to come by these days, make sure your business has ample cash. This should be your top priority, which is why I have listed this at #1. I heard a line the other day: “raise your own round.” All companies can do this simply by leaving no stone unturned. I got sick for nine days in September and it was the best nine days I have ever spent at home sick. It gave me a chance to clear my mind and pour over our financials. I was not distributed by phone calls and the day-to-day tasks of running the business. Maybe getting sick isn’t ideal, but think about getting away for a couple of days and focusing solely on saving money. I put a plan into action during that time that ultimately led me to save mobileStorm close to $40,000 a month. I looked any possible redundancies, I looked at vendors we were spending too much on and asked them for discounts, and we got rid of services we didn’t really use or even realize we weren’t using. The most important thing you can do right now is get profitable. Read my previous post on tips for saving money. [...]

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