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Small Town Rules: How Big Brands and Small Businesses Can Prosper in a Connected Economy by Becky McCray, Barry J. Moltz

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3. Adapting to the New Economic Realities of Self-Reliance

When there is no one else to rely on, it’s just like a small town. In today’s economy, self-reliance has become a requirement. Jobs are no longer assured, incomes are no longer always rising, and the federal or state governments do not offer a reliable backup plan. As these factors increase in importance in the national economy, it follows the pattern that small towns have long since adjusted to.

Small town business people have a sense of self-reliance. They build their own business portfolios with multiple lines of income. Many use online marketplaces to supplement the local marketplace. Brands can adopt diversification as a survival strategy, but it comes with risks. They must consider ...

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