Last month I reported the recession is over. I received several emails responding that it is not over. Some of you even sent me articles and statistics showing the recession will last a lot longer into the future. I realize the business slowdown is here to stay. But, it is your decision to wallow in the negative or look for positive things you can do to grow your business and make a profit.
When the financial tides kept coming in for years, we were lifted up, up to our eyeballs in business, and making money was easy. When the tides went out, we were left standing in shallow water with our pants down. An ugly sight!
In an issue in Forbes magazine, it shows that most industries have bottomed out and are now making more profit than they were when the economy was booming. Why? They have trimmed the fat, increased efficiency, improved productivity, reduced excess inventory, eliminated poor performing products or services, and have intensified their focus on attracting profitable customers.
I am looking forward to 2011 as a fresh new beginning. Your choices are to “Be a has-been in 2010” or “Win in 2011!” I choose winning! When the economy was booming, most companies only had one source of revenue. The recession has shown us we need 3 types of income to weather the storms. Over the next few months we will be increasing our business in 3 different areas. First we will be expanding our ongoing continuing revenue and service business. Second, we will be seeking wealth-building investments that will bring in positive monthly cash-flow. And third, we will be working hard to improve our one time contract business.
What about you? Will you get caught with your pants down as the tide goes out some day in the future? As a thought, why don’t you consider joining one of our ongoing Executive Roundtable Groups. I am forming 1 or 2 groups starting in 2011. These groups of up to 12 other company owners and managers will meet 3 times per year in a peer group format. Everyone will get to share their challenges and get input to help them improve and grow their business. Shoot me an email to get the complete brochure: firstname.lastname@example.org.
Learn more about the Executive Roundtable Groups by clicking the link below