Amazing how many small and family owned businesses are so afraid to do anything. Now is the time folks. Now is the time. Once this recovery gets going full bore, watch out on prices. You can get people, raw materials, real estate, supplies, etc. at really low prices. Now is not the time to back down. Now is the time to get after it! Except, if you have to borrow 100% to do it. That might not be a good idea UNLESS it is real estate.
Did you put back anything. Did you cut people and expenses and are now running "leaner and meaner"? I hope so. It was very interesting to me when the Nightly Business Report (PBS) said that small businesses are making money, lots of money, with less sales because they have made the cuts necessary to do so AND they are finding out that they were blotted......overstaffed and not lean on expenses and now that they are they do not want to go back HIP HIP HOORAY!
If you have done that, then now is the time to expand or do some of those things you always wanted to do. Get that equipment or building or start a new product or division. Do it carefully and leaner. But, do it! Prices today are great in real estate and equipment. Many equipment suppliers have bigger inventories than they should. They will sell and finance cheaply. Try it!
Unless our illustrious President screws it up further, things could be good. Not because consumers are buying more right now, but because small business and even big business has learned to operate leaner. You don't think so. Look at Ford. $900 million dollar profit in North America not because sales have reached levels of 2years ago, but because they are leaner and meaner everywhere.
Start thinking right now. What should I be doing. Where should I be going. Where am I in my Strategic Plan? Don't have a plan, do one. Right now!
What do you think?
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