I stopped buying a paper some time ago because I found the news too depressing. That action certainly helped me to just get on with life and business without having a daily dose of media-induced economy hype and melancholia.
But it's hard to completely escape news stories unless, I suppose, you decamp to a desert island with no internet access, radio or phone! (I do feel tempted sometimes but there would be severe withdrawal symptoms) So, over the last few months, the media have hammered home the doom and gloom about the economy until it finally came to be true. Prices are rising and money is tight just about everywhere. It is no longer possible to ignore the sad state of affairs.
Small businesses have such an important role to play in the local and national economy and the owners of these businesses need to adopt a positive attitude if they are not to succumb to a 'let's wait until things get better' inertia. I don't mean they should ignore the reality, but they should be making plans so that they are well-placed to act quickly when things do improve.
From the Strategy Sessions I've held with several of these far-sighted business owners lately, it's clear that they're planning for the recovery now. They are looking at different ways to promote their products & services and are finally (for many of them!) realising that the internet can help them reach a wider audience for a much lower cost than traditional marketing methods.
What's your take? Are you sitting tight or making plans? I'd love to know.
Making plans - absolutely.
And making plans around building a business that doesnt have to rely on boom periods. In fact I read a tweet today (now who was it?) which said if your business only booms in boom time, then that it's unlikely that that business will survive when belts need tightening.
Karen
Posted by: Karen | September 12, 2008 at 02:36 PM