Everywhere you look it seems its between despair and disaster. Between our service industry struggling as everyone tapers their euphoria for things that really aren’t making money or saving money you will see things get a lot uglier than they are now and a lot tougher than they are now if you aren’t doing the right thing. How do you know if you’re doing the right thing? You probably won’t like my answer to that question if it’s on your mind.
Off topic: Last week I got the pleasure of Schragging my buddy Dave, recommending that he get the highest yield credit card and max it out 😉 That was really only partially a joke but allow me to explain. Much of our economy works and trades on vapor. For example, financial institutions count “available money to lend” as those ridiculous credit card limits they offer. With the pullback that the financial industry is being forced into, you will shortly see those lofty limits shrink. And if you’ve run a sound business you likely have 0% APR for a very, very, very long time. Banks are just dying for people to start doing business so they can at least get commissions going. And in tough times, cash is always kind.
Point is, business is fantastic. If your business plan isn’t yielding the results you want because of the economy then you change your business plan. You don’t bang your head against the wall and do the same thing that is failing.
You get out there and ask some very simple questions:
What is it going to take to earn your business?
What would you be willing to pay for this?
And then you get to work.
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