Remember, your suppliers need customers and therefore need to help you fight through this, repay them and buy from them in the future. It is likely they have had many accounts go bad already and many, if not most, of their remaining accounts are in trouble. If you communicate with your suppliers, make them aware of your plans for dealing with the current situation and offer a reasonable plan for getting them repaid, they will likely go along with it.

Someone with a plan is probably a welcome relief from the majority that have just thrown in the towel and given up.

REMEMBER PAST CLIENTS

Most of us can remember a situation when we found out someone really could have used our help but didn’t ask for it. We likely responded by saying: “I wish you had just said something, I could have helped.” I believe we all would be a little surprised by the willingness of our former clients to help us with referrals, if we just have the humility to ask for help. A call or note letting them know you could use their help could pay big dividends.

The bottom line is that the way to get through hard times never really changes. It’s really a matter of everyone involved working together and helping however they can. Most of all, don’t give in and don’t give up!

On the brighter side, perhaps by the time you’re reading this, the economy will have turned and you can tuck this column away for the next time the economy tanks.