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Starting a Home Business During a Recession
When a recession hits, it's a good idea to start thinking about another revenue stream for your family. Starting a home business can be a way to soften the blow if you work for a company that might be downsizing soon. Not only is it a way to generate more money for your household, it can also lead to more satisfaction with the work you're doing (and help you grow closer as a family). Before you quit your job, however, there are some things you should consider about going into business during a recession.

Providing Something People Need
Before you launch a home business, you need to consider it carefully. Is the service that you are providing something that people truly need, even in a recession?

Marketing Your Business
You probably won't have a big marketing budget for a home business. You need to find low-cost marketing strategies, especially during a recession. Word of mouth is a tried-and-true method for generating customers. Pitch your services to everyone you know, and ask them to refer people to you as well. Spending a lot of money to market a startup business can be disastrous, and the lack of response to your initial efforts can be not only discouraging but also financially devastating.

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