9 Business Questions Every CEO, President Or Business Owner Should Ask Themselves As The Economy Recovers
In 2010, a government bureau in Washington D.C. declared that the Great Recession was over. Yet when looking at all the statistical data being published since that time including employment numbers, a volatile stock market, consumer confidence lagging, the housing and real estate market still unloading years worth of inventory with more foreclosures and short sales coming on the market, it is apparent that for many in business the recession really isn’t over. Instead, it lingers on. The effects of the recession are still clearly being seen across many sectors of business. Here’s my prediction: There’s more to come. Businesses that were strong enough to ride out the first few years of the recession yet didn’t make changes as the economy and the consumer changed are now facing the reality of their future. Some will survive. Others will close their doors.
What I am finding as I talk to CEOs, company presidents and business owners every day is that the economy is creating a society of haves and have nots. What side do you want to be on with your business?
Consider the following nine questions:
1) What do you do really well versus your competitors? In this tough economy, your competitors may be doing your business a favor as it will make you realize your strengths more and what you need to capitalize on in the marketplace.
2) Are you going to stand up and fight for what you have worked for all these years? This is a black and white answer. There is no grey. It’s either “yes” or “no”.
3) Is your business giving you the results you want? If not… Get in action and make a plan.
4) What can you do right now, starting today, that will begin to make a positive difference in your business?
5) Ask yourself: How many good clients do you really need to improve your business profits?
6) How do you want the pain? Do you want the pain of going out of business on terms other than your own or do you want the pain of making your business a success? What makes business people successful is not the economy but having the will, drive, determination.
Refuse to go broke. Refuse to fail with your business. And get in action.
7) Do you let people know you are ready to do business? Customers/clients needed what your company does before the recession. And they, most likely, still do today as the economy recovers. Let them know your company has the answers and the solutions they need.
Rethink. Retool. Reinvent.
8) What motivates you to make your business work? To be profitable and successful?
9) No matter what advice you are getting, you have to do the hard work to make it all come together. Are you prepared to work smart and do the hard work it takes to run a successful business?
The next few years in this country are going to be challenging, even brutal at times, as the economic recovery continues. That includes being in business.
Can’t do anything about what is happening in government except go out and vote when it is election time and support the candidate of your choice. But you can control what is happening in your own world with your business. Are you ready?
I guide CEOs, presidents and business owners to where they want to be with their business regardless of the economy. If you’re not getting what you want out of your business. Or maybe your business is on a winning streak and you’d like to continue the momentum, then call 888-738-1855 to set up a no cost, no obligation phone conference. I guarantee an interesting business discussion and ideas that you can immediately start to implement into your business for greater success.