What? an Increase in New Business Openings. Are They Crazy? NO!
No they are not crazy at all, in fact they will probably have a better chance for survival than those who are and have been in business for a while.
Seems strange you say...Think about it. Today's issue is all about surviving this huge transition. Changing economy, changing customer habits, changing credit availability, changing everything. Sometimes it is either very difficult to change or change is made too slowly, or not at all or incorrectly. Change is the issue. Downsizing, debt workout, redefining your market, all uphill battles.
Opening up a new business with a fresh start with no issues other than figuring out what and how to do it under today's conditions may be an easier challenge than making the transition from old ways to new ways.
In fact with so many businesses going out of business, the market place is ripe for new replacement businesses prepared to move forward without the anchor of previous bad habits, too much debt and overhead weighing them down.
There are therefore two lessons to be learned here.
1. Change is a huge opportunity for fresh thinking and new business openings. Our changing economy will provide many new opportunities for fresh thinking and new start ups.
2. Existing businesses must act as if they are a new start up and make all the changes required to succeed. This of course is very difficult, as it means reinventing yourself from what you are and have been to what you must become, and doing this with all the old systems and strategies in play and of course all the existing problems plaguing you... a very tough job.
In fact maybe you all ought to consider closing down and then re-opening as a new and different operation, designed for today's economy and customer....as if you were starting a new business.
Change always brings opportunity with it... we are clearly in a changing time... embrace it and win. Fight it, or ignore it at your own peril.
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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