How to recession proof your business plan

With every recession or economic down-turn, there are businesses that are successful and continue to thrive in spite of the market. They not only maintain their competitive advantage but they look for opportunities and thereby recession-proof their business. In this recession, this business plan is more important than ever. When the market was "hot," generating business and closing more deals was easy. It's a lot tougher today and everyone is working harder. Perseverance and doing the right thing is a proven formula for long-term success. Professionals that will survive this recession will be the folks that keep active in associations such as BMAR. With all the uncertainty in the economy and real estate industry, it is more important than ever to network and share concerns with your peers. There are over 25 committees in the association that members can participate on and share ideas. Networking takes place at all events including committee meetings. BMAR sponsors many networking opportunities including four major events: the 85th Annual Banquet, April 23 at the Marina del Rey Caterers; the 74th Annual Golf & Tennis Outing, June 29 at the Fresh Meadow Country Club in Lake Success; the 8th Annual Real Estate Trade Show, Oct. 28; and the 25th Annual Holiday Party, Dec. 3 at the Marina del Rey Caterers. Keeping your company product or service visible is easy with five annual publications including the Realtor Professional Edge Monthly Newsletter with a circulation of over 10,000 companies and professionals throughout the area. During down markets or when business is slow, advertising becomes even more important as a means of promoting your products or services directly to your target market. BMAR has a history of helping members become more successful and enhancing business relationships. Many of our members are 3rd or 4th generation of active companies in the organization. They know that cultivating long-term business is a worthwhile goal that keeps paying off. The 2009-2010 Membership & Referral Directory is being prepared to also help recession-proof your business. The annual publication features a wealth of info including a list of product & service providers. Companies listed in the previous edition included: adjusters; apartment building realtors; appliance repair; architects; asset & property management software; attorneys; banking & financial services; boiler repair, installation & cleaning; chute & compactor cleaning, sales & services; commercial investing & lending; commercial realtors; computer consulting; computerized heat controls & monitors; consulting engineers; copiers & fax machines; elevator companies; energy/natural gas & oil; engineering/building inspections; environmental services; exchange specialists; exterminators; foreclosure/credit rehab loans; fuel companies; hardware supplies & services; intercom systems; insurance; iron works; janitorial supplies/building maintenance supplies; laundry services; lead abatement & inspections; mortgage financing: owner-management Realtors; pest control; plumbing; printing; property management; real estate development consulting services; real estate franchises; real estate investors association; rent & maintenance billing; residential Realtors; sewer, drain, heating, meters-oil & water repair; window & glass. There is also the opportunity to add to the types of services listed above. All members are listed in the directory membership roster for recognition and for referrals. There are additional listings for affiliate and institutional type members based on their specialty or service. I encourage companies to maintain multiple representatives as members especially for the larger firms with different divisions that do not usually share invitations or communications. Members that also advertise in the 2009-2010 Membership & Referral Directory multiply their opportunity for referrals and more business. BMAR membership is composed of a broad base of companies and professionals directly or indirectly servicing the industry and business community. For more info on programs, services or events, email: [email protected]. As the local board for the NYS and National Association of Realtors, BMAR is positioned to assist professionals recession-proof their business. To help Realtors meet their clients' needs and succeed in today's economic climate, the national association is offering its roster of business building resources to members free or at reduced costs through the association's new "Right Tools, Right Now" Initiative. For more info visit www.REALTOR.org/RightTools. Nunzio Del Greco, RCE is the CEO of the Bronx-Manhattan North Association of Realtors (BMAR), Bronx, N.Y.