John Walters taps into the pulse of the small business community, and seeks your feedback to assess the current environment.
In speaking with small business owners, it occurs to me that they are feeling more than a little battered and bruised: the markets are down; 401K’s where they exist are in decline, and significant equity in their homes has been wiped out.
Employment statistics are not encouraging, consumer confidence is low, and at the same time owners are reading about how the government is helping small businesses, but they are not realizing the benefits.
Fearful that returns may not materialize, and with siege mentality, business owners are reluctant to invest money, even when the returns look to be attractive. In essence, they appear to be paralyzed from taking actions to improve their business.
“Cash is King” and owners are keen to hold on to what they have.
Does any of this sound familiar?
Please share your thoughts on the above.
Reprinted with permission from 1-2-1 Business Consulting, LLC
Yes, all of this sounds familiar. Small business owners are fearful of taking any action for their business right now.
ReplyDeletePersonally, I think that even though they are fearful, there are some small investments that they can make depending on their business. A small bit of marketing may give them "the kick" they may need.
Sadly, in my business I have spoken with some business owners that are SO fearful that even making a small investment that makes sense scares them.
My question is this: Why are you expecting different results when you continue to do the exact same thing? You must try something different! Just a little something. Of course it's scary but doing something is almost always better than doing nothing. And there are so many ways to build your existing relationships with very little money.