According to the Business Journal of Milwaukee, more than 30,000 businesses, nationwide, filed for bankruptcy protection in the first half of 2009, a 64 percent increase from the same period a year earlier. What is the cause of all of these businesses going bust? Lack of innovation. Unwillingness to grow, expand and be responsible for the results they are (or aren’t) producing.
If I have said it once, I’ve said it 5 million times: “Recessions are amazing opportunities for people who are willing to grow and expand.” For those of us that are willing to do what ever it takes to make our businesses profitable, a recession provides an opportunity for building future momentum and unprecedented growth. For those of you that are sitting, twiddling your thumbs, a recession is a death sentence.
Recessions weed out people who are unwilling to be responsible for their results. A recessions weeds out people who are unwilling to innovate. This economy forces business owners to create a stable, invented foundation and create a plan that brings in clients, serves current clients’ needs more effectively and increases profit with less expense and overhead.
Today, take it upon yourself to relate to the recession like a really smart business partner. “He” requires finesse, innovation and expanding your business to meet new needs. He requires you to REALLY serve and protect your client base. He asks you to reduce overhead, nip and tuck expenses and use your resources wisely. He forces you to think of new, inexpensive (or free!) ways to attract new clients and increase profitability. Who wouldn’t want a savvy partner like that in their business?
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