Don"t Allow the Global Downturn to Cause a Personal Recession in Your Small Business
As a retired entrepreneur and the founder of a franchising company, I often like to assist small business startups and help them through the arduous process of government regulations, and prevent them from falling into one of the many tiger traps.
Often, I will consult people online or talk with local business people over coffee.
One thing I've noted is the tremendous number of complaints and excuses for lack of success amongst small business startups and entrepreneurs.
Many years ago I was watching CNBC with Maria Bartiromo who was interviewing Jack Welsh of General Electric.
Maria had asked him about the changing economy and the challenges that lie ahead.
Jack Welsh said that he wasn't worried about the economy, that General Electric was going to do well regardless of what the economy was doing, and that they would adjust their business model to keep their revenues and profits where they needed to be.
Indeed, at the time I thought to myself "wow, what a great attitude, a hard charger, and no wonder Jack Welsh was the President of one of America's greatest corporations.
" Now then, perhaps this is the advice that I would give to a small business owner.
That is to say; don't allow a global economic downturn to cause your small business to have a Personal Recession.
After all, anyone can make excuses, and there are hundreds of more reasons to fail in a business of your own, than there are reasons to succeed.
Another thing that is interesting and perhaps something you should consider - there is opportunity in chaos, and as your competition can't handle the rapid changes in the economic environment, it gives you the upper hand to take the lead.
And therefore you should.
You see, before retirement our franchising company was in the mobile cleaning business, and even as the economy was tanking, we found ways to capitalize on the situation.
A good case study and example is when the economy turned South there were more automobile repossessions, and we went to the banks, and those banks hired us to detail and clean the vehicles they had repossessed.
There were also more equipment and auto auctions, and we also found work there as well.
Sometimes you just have to consider what's going on, and look for opportunities, and my advice to you is stop looking for excuses, and start scanning the horizon for potential advantages.
Indeed I hope you will please consider all this and think on it.
Often, I will consult people online or talk with local business people over coffee.
One thing I've noted is the tremendous number of complaints and excuses for lack of success amongst small business startups and entrepreneurs.
Many years ago I was watching CNBC with Maria Bartiromo who was interviewing Jack Welsh of General Electric.
Maria had asked him about the changing economy and the challenges that lie ahead.
Jack Welsh said that he wasn't worried about the economy, that General Electric was going to do well regardless of what the economy was doing, and that they would adjust their business model to keep their revenues and profits where they needed to be.
Indeed, at the time I thought to myself "wow, what a great attitude, a hard charger, and no wonder Jack Welsh was the President of one of America's greatest corporations.
" Now then, perhaps this is the advice that I would give to a small business owner.
That is to say; don't allow a global economic downturn to cause your small business to have a Personal Recession.
After all, anyone can make excuses, and there are hundreds of more reasons to fail in a business of your own, than there are reasons to succeed.
Another thing that is interesting and perhaps something you should consider - there is opportunity in chaos, and as your competition can't handle the rapid changes in the economic environment, it gives you the upper hand to take the lead.
And therefore you should.
You see, before retirement our franchising company was in the mobile cleaning business, and even as the economy was tanking, we found ways to capitalize on the situation.
A good case study and example is when the economy turned South there were more automobile repossessions, and we went to the banks, and those banks hired us to detail and clean the vehicles they had repossessed.
There were also more equipment and auto auctions, and we also found work there as well.
Sometimes you just have to consider what's going on, and look for opportunities, and my advice to you is stop looking for excuses, and start scanning the horizon for potential advantages.
Indeed I hope you will please consider all this and think on it.
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