Our economic leaders, banks, especially, remain committed to their way, and will be of no use next year to the small business man or the economy as a whole.
Unemployment and the real estate bust will continue to hold emergence back. The government hand outs will not break the back of the recession.
There will be no help for the small business owner at all.
If you are to succeed you must do it on your own.
Here is the simple recipe for survival and then success.
Downsize, re-invent your business and workout your debt, reducing it with debt forgiveness to an acceptable level, preferably zero.
Then you can hold on and ride it out, learning how to grow and prosper under today's conditions, conditions we must endure for a long, long time. What we now have and will have is what it will be for quite a while, many years. So stop thinking trend and thing this is our reality and prepare immediately.
Those that work out their debt and downsize to balance their reduced revenue with their breakeven point will be able to dig in and prosper. Those that do not will fail. It is that simple. Those that reinvent their business equation to reflect the changing times will win, the remainder will lose.
Next year will be dangerous to those that fail to heed the warnings, probably fatal.
Or it could be a great year for those that follow the only possible path to success, downsize, reinvent your business and workout your debt.
You have been warned.
Published by Don Todrin
Donald Todrin is the CEO and Founder of Second Wind Consultants, Inc. who specializes in SBA Loan Workouts, business debt forgiveness and solving difficult business problems in general. Don has authored... View profile
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