I get this question a lot: “George, when will it get back to NORMAL?” The real translation for what people ask is: “The way it used to be!” My answer is “NEVER!” When you break something like an arm or a leg, you don’t wait for it to get better. You go to the doctor and get it fixed. If you waited for it to get better, all you do is further damage the limb, prolong the pain and go nowhere.
If you’re not broke, your business may be!
Guess what, you may have a broken business if you’re not broke yet. If you continue to wait for it to get better, you will get worse! Therefore you must do something different, FAST! If you could start over, what would you do different? Would you add some new services, customers or products? Would you take care of your customers different? Would you add some ongoing services as a part of your business plan? Would you invest your money in assets like income properties versus liabilities like tractors or vehicles? Would you spend more time developing loyal customers? Would you build a better and stronger management team? Now is the time to do what you need to do. What have you got to lose? Throw out your old model of how you do business. Start with a clean plate and build a company that will sustain the ups and down markets. Businesses that relied too heavily on speculative development to sustain their income, are now broken. They had all of their eggs in one basket. Think about building a business with 3 or 5 baskets that will stay full. Years ago I was doing lots of construction expert consulting work for many of the top lawyers in our area. But I got busy building speculative projects and dropped the consulting work. Today I am trying to build the consulting business back to help pay the bills during tough times. WHY DIDN’T I KEEP IT GOING? To quote myself: “I was too busy working to make any money!” Oh well, even I should listen to my own advice!
Give Thanks For Opportunities!
Over the next few weeks, give thanks for what you’ve got, not what you’ve lost or don’t have anymore! One thing you have is a clean plate to start building upon. Make some good decisions about your future. Spend some quality time with your family. And emerge stronger and wiser. Consider joining one of our Circles or Roundtable Peer Groups – they may be one of the pieces to get your puzzle started on the road to recovery. But for sure, make a decision to stop waiting for it to get better!