Wednesday, November 19, 2008

Now What

The election is over, the Dow is still crazy, the Middle East is a mess and businesses are still innovating and investing. Am I alone in my confidence with our country and small business as the engine of growth?

Sure, we have problems—plenty of problems. From mortgage and bank failures to threats from China and India, the landscape is rocky. However, the entrepreneurs I talk to are still doing what they do best. They are tightening their belts and going back to basics: managing cash, raising productivity, keeping a sharp eye on collections and talking to customers to get a pulse on the market. We all need to keep an eye on what brought us here in the first place.

By our nature, entrepreneurs are optimists. The glass isn’t half empty. In fact, when 75 percent is gone, most of us see it as a 25 percent opportunity to improve and adjust. However, they aren’t outrageously confident.

The winning companies are those who aren’t afraid to adjust when real market conditions demand downsizing. Sometimes, winning strategies aren’t related to huge top line growth, but maintaining bottom line profit in the face of difficult conditions.

Commercial glazing contractors, suppliers and partners have a unique chance to work on the tough plans while still enjoying a backlog. We all need to be aware that the tide may be retreating and start working on our contingency plans BEFORE crisis stage.

If anyone has suggestions, tips, or tools that might help, please contact me or post a comment below.

Now, for a break in the election coverage. What are we all going to watch to replace coverage like this or that? At least, we can get a preview of our future Wall Street executives

1 comment:

Anonymous said...

Hi Pete,
I would hazzard a guess that we may agree.... it is not rocket science. Keep a close eye on your costs, make nescessary adjustments. Trim the fat in your oporations. Don't take jobs just to keep busy, fight for the ones that are profitable. It is not the volume of $ delivered or installed that counts, it is how much money you put in the bank that is important.

keep it coming Pete

Jim F