Small Business Survival Tactics in a Recession

[tony404]

I agree with all except booting people and putting people on straight commission. If someone has been loyal and did the right thing. Screwing around with their income at the worse possible time is not cool.
A guy I worked with had gone bankrupt and after I got to know him.He told me what happened. His family owned a trucking business, things got bad. He, his dad and brothers sat down and decided that they would not close til they found every employee a job. They had been loyal to them and they had to do the right thing. Well to do that it cost them, they had to take on a mountain of debt. I asked would he do it again, he said it was the right thing to do so he would do it everytime.

[gonzo]

Originally Posted by tony404

I agree with all except booting people and putting people on straight commission. If someone has been loyal and did the right thing. Screwing around with their income at the worse possible time is not cool.
A guy I worked with had gone bankrupt and after I got to know him.He told me what happened. His family owned a trucking business, things got bad. He, his dad and brothers sat down and decided that they would not close til they found every employee a job. They had been loyal to them and they had to do the right thing. Well to do that it cost them, they had to take on a mountain of debt. I asked would he do it again, he said it was the right thing to do so he would do it everytime.

It was the right thing to do.

He is a fine man and there are very few like him.
You should be honored to know him as there are many that would have bailed chalking it up to a lesson he needed to learn.

[tony404]

Originally Posted by gonzo

It was the right thing to do.

He is a fine man and there are very few like him.
You should be honored to know him as there are many that would have bailed chalking it up to a lesson he needed to learn.

I was, he was a true southern gentleman

[Hell Puppy]

Originally Posted by tony404

I agree with all except booting people and putting people on straight commission. If someone has been loyal and did the right thing. Screwing around with their income at the worse possible time is not cool.
A guy I worked with had gone bankrupt and after I got to know him.He told me what happened. His family owned a trucking business, things got bad. He, his dad and brothers sat down and decided that they would not close til they found every employee a job. They had been loyal to them and they had to do the right thing. Well to do that it cost them, they had to take on a mountain of debt. I asked would he do it again, he said it was the right thing to do so he would do it everytime.

All very admirable.

Remember we're in a dried up credit market though. Debt aint an option. How understanding are your vendors? Your landlord or mortgage company or other creditors?

It's all about survival. When it's this bad, you do what you have to do to ensure the business survives. Do you lay off 20% to make sure the other 80% still have a job? I would.