Capitalise on a collapse

This article first appeared on June 18, 2011.

Australia’s patchy economic conditions have unfortunately led to a number of business collapses in recent times.

RedGroup Retail (owner of the Borders and Angus & Robertson chains) was a big one in recent years, but we’ve also seen everything from wineries to software companies and resorts going under.

While I know the Taskmaster could stand accused of being ghoulish with this tip, here it is – if a collapse happens in your sector, you must look for ways to capitalise on it.

For example, could you offer to honour discount coupons to the defunct company?

Could you buy the collapsed company’s database or customer list from the receivers?

Could you run some advertising aimed at customers of the departed firm?

Could you look to buy the company’s plant, equipment or property?

Get over your squeamishness and grab a bargain.

Get it done – today!