If you are waiting for things to get better, it might be a long wait. There are too many unknowns out there and the folks in Washington aren’t making many of us in small business feel better. Thus, we wait for things to get better. The folks with money wait for it to get better. And we all sit and watch to see who’s going to blink first.
There have been several recent articles on these topics – Silverblatt on Uncertainty; recent comments from Bernanke, and most interesting of all of them an HBR Blog by Umair Haque. These are all macro economic/business topics, but there are kernels of truth for small business. #1 kernel is that we can not wait for the “trickle down” affect from the government. As Haque stated, one side wants to spend, spend, spend, and the other cut, cut, cut. And they’re stalemated – and waiting for November is not the solution. #2 kernel is that uncertainty is a roadblock for many businesses; thus not making any decision – is a decision, and the results are unsettling.
As with any economic downturn, there are opportunities – but one must be willing to look for them. In the printing industry, it’s finding ways to use excess capacity. It could be aggressively looking for a creative way to merge/tuck-in/consolidate with another company. It could be adding services which help your customer expand or grow their business. It could be as simple as making a few phone calls to prospective customers – or business partners.
Thus, what should we do? Jump in! The time for waiting is over —