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Fat is Good
By Antonel Neculai
We have a winter ahead of us. I’m not talking about the season; I’m talking about the economic climate. I’m still waiting, as I lay down these words on a white sheet of paper (actually, on my screen, but it sounds better to say “paper” than “screen”), to see if the bailout really works. Call me stupid or blind (“C’mon, you can read it in the newspapers or hear it on the news: the bail out is working, stock market gained points, why are you still wondering?”) but I still hesitate to believe we’re safe after I’ve read this morning that more than half of the 160 billion dollars “donated” to the banking system to encourage and help them start lending money again will end up as dividends for the stakeholders. So it still looks like winter to me!
What I’ve learned from the Eskimos is you need fat to survive. Your business needs fat to survive. What I mean by “fat” is financial resources you can use to market your business. Being fatter (read “healthier”) than your competitors might give you that needed edge to make it through the harsh times. Companies that continue marketing through a downturn do better than those that stop. There are always alternatives and maybe the best one is to turn to online marketing. You can reach the same number of people spending less money (for the same 1000 people you reach with an ad in a magazine or newspaper you spend less for a banner or online ad placed on their website). Or think of search engines: compared with other forms of marketing, search engines have a far wider potential reach, are much cheaper, and allow for the revision of content quickly without producing cost overruns.
Here’s a final thought: learn from your experience. This recession will be over eventually (hopefully sooner than later). When you’ll have good times again, remember to save, put some fat on your business’ bones. This time it was the housing market and the credit crunch. Who knows what’s going to be next. Or when... See ya’ll online (and remember: when it comes to your business, don’t look for the “fat free” milk)!
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