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Friday, October 17, 2008

Why it is good to be a Small Business in Bad Economy

Seeing the big guys go to beg in Washington fills me with both anger and frustration. Our bottom line probably just looks like one little line item in their balance sheet. Yet, here we are - we the small business owners, are not begging for the government to save us. While the big business and investment bankers are figuring out how to get money from the government, we are sitting here thinking how we can improve business to serve our customers better.
The big advantage to being a small business is our ability to work quickly and adapt very fast to new situations. We do not have to devote hours to office politics and getting through committees and other cut throat practices. We are noticing a slow down. Companies are taking longer than usual to make purchasing decisions. The story is the same: budgets were cut or frozen mid-year.
The six million dollar question is: what can we do about it? Our plan is simple: assess our current situation, come up with a plan and execute.
Time Line: Assessment - 1 week Plan: 2 days Preparation to implement: 2 months Execution:On-going.

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