As we conclude a tumultuous 2008, complete with the loss of trillions of dollars in market capitalization value, massive bailouts, surging unemployment and staggering business and residential foreclosures, you have begun to wonder what’s next in this economy and how will it affect your business. You are, unfortunately, not alone.
It probably wasn’t too long ago that you thought things were going well. Chances are your business was doing alright despite a number of inefficiencies that were easily masked by a vibrant economy. Even though your company wasn’t meeting all its operating objectives, it was generating profits and you were quick to rationalize that the financial return on your effort was good enough. Ah, those were the days; as the business owner you could take your eye off the ball and still do OK. Times have changed and now you are stressed because you know, deep down, things are not right and your company may be facing trouble in the very near future.
This may come as a shock to you, but your company goes as you go. Not only do you have to chart the course, you have to make sure your employees all row the boat on the same cadence and in the same direction. If not, your business merely goes in circles; your frustration goes off the chart; and, you work harder for less money. Why waste your time?
Before you accept the prognosticators economic forecasts of doom and gloom, maybe you should take a good hard look at what you can do to fix your woes. There is opportunity in this market, and if you don’t take advantage of it your competitor surely will.
It’s time to develop a strategy for true success and stick to it.