Preparing for 2009

Yes, the dreaded “R” word is in common use, and we’re told we’ve been in a recession for over a year now. Of course, that is no news for those of us in the trenches. The reality is that the economy has dramatically changed, and we are entering a new economy that is going to be different from what we have experienced over the past twenty years or so. Just look at the huge sums of money the federal government is infusing in the guise of bailouts, the insane amount of money that’s been spent on a needless war, the additional money Obama is proposing to put into “infrastructure” projects, the changing face of corporate America, and rising unemployment.

This is Christmas eve – and I don’t mean, or even intend to be negative. Just realistic. And I want all of us small business owners to be realistic as we end this year and embark on 2009.

But what is key is this. As small business owners we can not let ourselves get caught up in the economic woes. The stock market remains uncertain, so it is not prudent to invest in corporate stocks. But this is a great time for us to invest in our own businesses.

As I have written in a recent blog, we need first to examine our products/services/markets. We need to drop unprofitable services and products. We need to fire unprofitable customers. We need to terminate unproductive employees. Now is the time to revise our business plans to reflect the reality facing us in 2009.

Now is the time to invest in upgrading our products, training our employees, communicating with our customers, and revising our marketing messages. We need to start 2009 with a clarity of purpose, and a clarity of mission that we communicate well to customers, prospects, employees, investors, and suppliers.

This is the time of year for joy. Let’s end the year with joyful thoughts and with a renewed sense of purpose.

Merry Christmas