So, about the interview. Two weeks ago at a local coffee shop I bumped into my neighbor, Cameron, who is a stripper- and a quick breakfast conversation ended up turning into an interview on how she’s getting through the downturn. I found what she had to say was especially inspiring for small business people and contractors, but also for managers in general who are starting to feel the pinch and worry about our economic future. Below is an excerpt which she was kind enough to let me print.

MSP: Has the strip club industry seen an impact from the economic downturn? Some may assume that “red light” entertainment would be recession-proof.

It [the economy] has affected us for sure. It’s definitely not recession proof, because we’ve all seen a drop in business.

MSP: What has that done to your club & your competitors?

I’ve seen tons of girls quit. They’re not making as much as they were and they fear it’ll get worse.

MSP: What are you doing that’s keeping you working?

Personally, it hasn’t affected what I take home, because I’ve made adjustments. I’m making the same money but working longer and harder for it. I know this won’t last forever, so it’s worth it for me.

I’m also taking a vacation that I had been putting off. I figure one of the best ways for me to keep up my pace is to stay happy, so I’m going to take some time to relax before I get back to it.

MSP: What advice do you have for other businesses and contractors who are worried about the recession?

First, realize that a lot of what you’re facing is mental. The recession is real, but a lot of the girls I know quit when they could have kept going and stuck it out. You can’t let all the recession-talk get in your head and shake your confidence.

Second, work harder and smarter. I pick up extra shifts sometimes or work a little longer, but with everyone else quitting, that’s actually been helping me. I can keep this up and come out of the downturn doing better.

MSP: Cameron, that’s some sage advice. I really appreciate your perspective and I think others will- especially in a time where people need some reassurance.

You can check out our related articles and tools in MSP’s free Ultimate Recession Proofing Kit by clicking here.

The release, titled “Small Business Owner Optimism at Five-Year Low” says that the latest 35 point drop in the Small Business Index brings it to an all-time low, spelling out major concerns for businesses. What are the major worries?

• Small business owners’ present revenue situation
• Future expectations for cash flow and financial situation

According to Wells Fargo’s senior economist, this doesn’t speak well for a swift recovery from our current course. On a positive note though, the report did mention that while business owners are concerned about their future, they feel successful.

So, What Does this Mean?

• If you’re a small business owner: Having a plan you can act on is imperative. Your strategic plan wasn’t likely crafted during a downturn, so a recession-plan is essential right now. Visit MSP’s free recession planning toolkit for more info.
• If you market to small business owners: Let them know you’re here to help them make it through this downturn. Any message of security or loyalty is welcome during a downturn
• If you’re a friend to a business owner: Buy them a beer & do your best to spread the word about them. There’s no better time to be supporting our local small businesses!

Like we’ve said, this downturn will pass- but very few of us will get through it without having to make quick decisions and some pretty tough ones. Having a great plan in place now is the best step you can take for your organization.

Photo by jurvetson

While looking for articles to add to our “Expert Tips” section of the toolkit, I found DownTurn 2008, Harvards own recession resource. It’s got great information about the anatomy of recessions, tips for managers, industry data and polls to tell you what everyone else is thinking.

If anyone needs more proof that we’re facing a downturn, I think Harvard is a pretty reliable source. If you’re concerned about how your company will deal with a coming recession, I highly recommend it- After reading all of our articles, though!

Well, when’s the last time you put your budget on the scale? Just like our bellies, our spending can start to grow over time without much notice, and we don’t know how bad it is until something exposes it- like being invited to the beach, or a meeting with the accounting department!

In our recent “Ultimate Recession Planning Toolkit,” MSP outlined several great ways to get your business’s budget- especially marketing- into shape for the coming economic downturn. We give you specific exercises that can trim the “holiday fat” and get you ready for anything- like the following advice about advertising during a recession:

• Temporarily switch media: In order to stay in the public’s mind for less, look into moving your budget from TV to a less expensive medium like radio, print or in some cases the internet.
• Buy in Bulk: Find out what kind of discounts you can get now by making a large purchase before your budget shrinks.
• Negotiate Long-term Deals: Media outlets will feel the pinch as well, and will be looking to make money. If you prepare by saving now, you can meet with them to lock in a low price for a long-term contract.

So go check out our advice on the heavy lifting, stretching and other activities that’ll get your balance sheet all sexy for the beach season, er, recession.

“Does your Marketing Budget Make you Look Fat? Five Exercises for a Leaner Organization“

We’ve watched the pundits become more and more convinced about a recession and we decided to do something about it. A great deal has already been said about whether or not a recession is coming. In addition, another great deal has been speculated about being “recession proof.” Questions have been raised:

“Is my business recession proof?” (more…)

The last recession on record for the US was 2001-2002. Since most of the Generation Y workforce took to the streets in the last couple years, that means that they’ve never had to deal with one.

A Harvard Business Review article from October has 4 great pieces of advice for Gen-Y-ers who are weathering their first recession.

Question Everything: The point here is to make sure you’re reading the signs. Watch for leading indicators like those watched by the conference board.

Favor Agility: When deciding between buying or renting, it may be best during a recession to rent- you can easily move to another town for work when you don’t have to worry about selling your house first.

Watch your Cash: Planning on a heavy purchase? You may want to wait. In the case of layoffs, that extra cash may come in handy.

Develop a Plan: Most importantly, you need to sit down and begin recession planning for yourself. What’s your backup in case things go south? Do you have an account where you’re storing up for a rainy day- or a rainy week?

We’ll be covering more on recession planning in the coming weeks, so stay tuned.