The U. S. government told us it would “take time” to see the effects and benefits of the congressional financial bailout.  Now the feds are telling us to “be patient”.  I understand the financial crisis will effect businesses and individual citizens and it will “take time” to free up the credit markets.  But your business doesn’t have any sense of “time” or “patience”. 

In many ways, business is like a young child.  It just wants what it wants; and if it doesn’t get what it wants, it throws a temper tantrum.  We all know what that temper tantrum is: loss of momentum, loss of sales, loss of customers.  All of those things and many more translate into financial loss for your business.

Just to make what I am saying clearer, here are some examples:  When you place an order for business supplies, the supplier or vendor is going to expect payment.  When payday rolls around, your employees will expect paychecks.  When customers seek out your goods and services, they expect you to have what they need and in turn, you expect payment from them.  You can see what I mean when I say business doesn’t have any sense of “time” or “patience”.

So what does all of this mean?  Business is somewhat like a computer without a software program.  If we buy a brand new computer and it includes no software, all we have is a very expensive piece of equipment that when we turn it on, we see nothing on the screen. 

Same is true with business.  Your business just sits there.  It has no “patience”.  It has no understanding of “time”.  It actually has very little value until you plug in the software that makes it work.  Of course, that software is you. 

Don’t buy the story that you have to have “patience”.  That you need to give your business “time” and in turn, business will pick up someday in the future.  By having “patience” you can go broke.

Use all of the experiences you’ve had throughout the years, focus like you have never focused before.  Get moving.  Get thinking.  Get into action.

In every business upturn there are business people who don’t have what it takes and lose vast sums of money; and in every business downturn there are business people who sit down and focus, gather their thoughts, rewrite their business plans for the current conditions and are relentless in the pursuit of success and profit. 

Failure is not an option.  Because of the extraordinary economic conditions, your business needs to be able to “turn on a dime” in response to the customer and the marketplace.  Don’t wait.  Start to create the business plan you need for today’s economic conditions.  You’ve put too much of yourself into your business to let it fail now.