How Entrepreneurs Profit During Slower Times


True Or False? The recent elections will not help your business in the near future? The slower economy is here to stay for at least one or two or five years? Your business must change or die a slow death?

So, how are you doing? How’s your business, cash-flow, stress level, and personal life? The economy got you down? Do you feel slightly out of control or wish things would get better sooner than later? Are you working harder than ever, but can’t get ahead? Do you think their must be a better way? Don’t know what to do next? Do you feel like you are treading water waiting for something to happen?

In a slower market, when you continue to do what you’ve always done, you’ll find it eventually doesn’t work and won’t deliver the same results you are used to achieving. So it’s time to let go of your past and face the fact that the future will be different. And only the nimble, quick, a strong will be successful. Look at the car manufacturers trying to change their business plan. Too late. It’s over for them as they have know it for 50 years or more.

Survival is bad!

I have a real estate broker who has a sign on his desk: “Survival = Success!” Is survival your goal? Are you in business to survive? Are you in business to make little or no money, not grow, keep the doors open, keep your crews busy, and spend all of your savings waiting for the economy to turn around?

You must change how you do business to thrive in the years ahead. Golfers know what ‘mulligan’s’ are. They are second chances to re-hit your shots. But in the real world, you don’t get a second shot. Every day you face reality of the slow economy and tough business climate. Either improve your swing and try something new, or continue to hit your shots into the rough and your score won’t improve. The booming economy handed out lots of mulligan’s when many companies delivered average performance and poor results. It gave them a second chance with their customers and contractual requirements. But now companies won’t get any mulligan’s for a long time. This is the real deal, no “take-overs! You must get it right every time the first tiem. Welcome to the PGA tour where you can’t rest on your past performances to pay your bills today and keep you at the top of the money list.

To thrive, will you work harder, work smarter, work more, get organized, get in control, try new ideas, or work different? To do business differently, you’ll have to improve how you do business and change how you work with your customers, implement your marketing plan, deliver your projects, and elevate your level of quality and service.

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