Recession Survivors

ATTENTION SURVIVORS

In every industry there will be survivors. They will be those that entered this recession with their financial house in order, were quick to understand the way the recession impacted their business and decided to change in order to survive.

Every corner of the US economy has felt the recession in some form. Many businesses have seen their revenues plummet. Yet all industries are still in place. None have been completely eliminated.

Are you a survivor? Do you see your business surviving the worst downturn since the Great Depression? Companies are reacting to this challenge in several ways. Some have decided to “ride it out”. “Ride it out” can mean any number of things. It can mean you have downsized to manage a profit with reduced revenue. It can mean you will operate as always, even if you are incurring losses, praying the economy will recover quickly.

Some companies have decided to redirect their business toward those parts of the economy that still enjoy profitable growth. (Yes, they exist.)

Some companies have no clear idea what makes sense for them. The changes that hit many small businesses in 2008 were many and they cut deep. It happened very quickly. Even businesses with a strong financial profile need quick answers to shrinking markets, growing bad debts and queasy bankers. Making sense of all this is no small task.

Consulting firms with a history of success in small business management are equipped to make the careful assessment of your business and map out a path to survival and prosperity. The other professionals and institutions that surround your business today are not supporting small business. They are a disappointment. No doubt, you have already experienced this reality. The people that were on your doorstep with programs and solutions for your business when times were good have nothing to offer when you really need help. In every way, you are more alone than ever in facing this recession. All the more reason to team up with an established consulting firm to turn things around. Doing nothing right now will likely be a mistake. Few are predicting a quick economic recovery for the U.S.

One of the postulates of small business consulting is to see things as they really are, not as we would like them to be. The U.S. economic engine continues to have systemic challenges that Washington has yet to clearly define, yet alone offer solutions to these challenges. Some are pointing to a second downturn in the economy in the near future. Common sense supports planning for a less robust economy for the foreseeable future. However, the U.S. today is still the largest economy on this planet. Several indicators point to a bottoming out of the recession that will make planning easier.

When our economy was robust planning for a small business could be limited to day-to-day operations. Strategic planning was something large corporations did. Marketing and sales could be limited to answering the phone. You took care of your customers and were rewarded with repeat business. End of story.

Unfortunately, those days are over.

WHAT ARE THE ANSWERS FOR YOUR BUSINESS?

The first step in being a survivor is your decision to be one.

The second step is to seek reliable help. Help that will work with you to define your business profile and outline solutions to the challenges facing your small business. Experience in strategic planning, marketing and sales, human resources, administration and finance is needed today by every small business. A business turnaround requires innovation and insight based on experience.