In the wake of the demise of giants such as Woolworths, Setanta and MFI, many businesses are shuddering and even more afraid to take risks or spend money investing in their business. However understandable this might be in the current economy, it is important that you take steps to learn how to recession proof your business.

There are three principles I would like to share for those of you who want to know how to recession proof your business. Firstly you have to dare to review the foundations on which your business grows to check that they are strong so that whatever has been built on those foundations stands a chance of surviving the economic downturn. For example what are the values on which your business is built? Are those values tangible to your prospects? People want value for money and if they do not feel they are getting it they will not listen to you.

The second principle involved in learning how to recession proof your business is that you must take a scientific and systematic approach to your business. For example it has been researched and documented that 20% of prospective customers do not buy in the first year. So what systems do you have in place for those who take longer to become clients? Marketing experts like Chet Holmes and Jay Abrahams do not teach scientific and systematic principles that are necessary for success for no good reason. if you adopt a scientific approach to your business you will avoid many of the mistakes that have cost others dearly.

A third principle you must take on board in order to know how to recession proof your business beyond the basic values stated above is to determine and utilise the business skills of others that you need to in order to thrive rather than just survive. It's extremely difficult, if not impossible, to build and sustain a profitable business (either online or offline) unless you reach out and harness the skills of a wide range of people.

One person doesn't have all necessary skills to do everything that is required to build and grow a successful business. Nobody has the monopoly on business success. It's a simple formula-the more high quality business connections you have, the easier it becomes to get things done and make money.

Many become tense at this point thinking this means more money to pay up front with no guarantee of better results. However if you want to know how to recession proof your business the smart way then working with others on a profit share basis will take the stress of upfront costs away and is risk free.

I had the privilege to work with Tony Adams after he left Arsenal and became manager of Wycombe Wanderers. If people like Tony have taken this on board then there is a vital clue left which separates those who thrive from those who survive.

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