Recently, I was thinking about my own business and wondering to myself if it is even possible to make money during bad times.
Maybe I was being too optimistic, I thought.
Maybe I should just batten down the hatches and weather the storm.
Fortunately, before I got snared in that self-destructive thought cycle, I put some serious thought into how I was dealing with the economy and my business.
I have determined based on my own experience that there are ways that a company can persevere and even thrive during and after the economy has taken a hit.
Here are some ways that you can make more money and grow your business even when the economy is tough:

• Lower your prices.
   Companies that are already known for providing value (like WalMart andMcDonalds, for example) are favored in economic downturns because peopleturn to them when they need to save money.
  Create your own value-imageby adding a lower price or a sales promotion to your list of productsand services.
  
• Introduce a bargain offering.
   If lowering your price is not really an option, then remove some featuresor benefits from one of your packages and promote it as a limited-timedeal.
  If you do not do this, your competitors will do it to and foryou.
    The converse of this also works: add additional benefitssuch as warranties or free shipping to an existing offer to make ita better value.
  
• Think creatively about additionalpossibilities.
   Economic uncertainty leads to unexpected changes and fluctuations inany market.
  That means that it is time to take "what if" to an entirelynew level.
  Make sure that you have a number of "plays" in your playbookto deal with outside possibilities that relate to your company.
  Thiswill enable you to flourish through a downturn and respond quickly andeffectively when the market makes any kind of sudden move.
  

Do not forget that even in dark economies, there is a little rainbow.
After all, change always represents opportunity as well as uncertainty.
You can move into a new niche, send some of your competitors out of business by responding better than they are, and help your customers stay afloat in ways that they will remember and stay loyal to for years to come.