As a business person you have personally witnessed in many ways the devastating effects of the Recession on the economy over the past few years. Not only have you lived through the Great Recession but you’ve watched other business associates go out of business or radically downsize the size of their company. Employee’s being laid off with the jobs perhaps never coming back as businesses redefine themselves and learn to work more efficiently with less. You’ve lost clients or customers due to extreme budget cutting. And though you and your company are still standing you recognize that while doing business is still the same it’s also very different now since the onset of the Recession. People are different. Business is different. The economy is different. And many business people, perhaps including yourself, are looking for answers and clear direction to successfully manage the direction of the company. You may feel stuck.
It’s a fact that the economy is not going to turn around any time soon. I have said, countless times, to CEOs, company presidents and business owners: “even though the economy is not what it was there is still business out there”.
So what do you do if you feel your business is stuck?
You just need to rethink your business. Look at every aspect of your business. You may have done this to a lesser or greater degree during the height of the Recession. But have you consistently focused on rethinking your business as the country has moved through the Recession and into a time of economic recovery, even though a very slow, unsteady recovery?
If you’re not selling your product or service, the question is why.
This is the time to pay attention, watch your costs and reevaluate your business goals. It is also the time not to run scared taking drastic measures that you think will help your business and your situation.
In times like these, this may be the time to appropriately spend more money even though your budgets are tight. What in your business will help you become more profitable? What do you need to concentrate on and increase to improve sales? Don’t run scared. Be conservative. At the same time, don’t be too conservative. Instead, be assertive, even aggressive or bold, with what will get you to where you want to be with your business.
Get unstuck with your business. Get the business ideas flowing and your business prospering.
Do you feel stuck in your business? If so, how? And what actions are you taking to move your business forward?