There is probably not a single business owner out there who has not, at least once, worried about whether the decision to start their own business was the right one.
After all, business owners tend to be multi-talented people who can easily carve out a career for themselves in the corporate sector. The doubts become particularly acute when their peers who have decided to stay on in the employ of big business start driving flashy cars and taking overseas holidays while business owners have to live frugally for another few years.
But there are certain times when the advantages of being in charge of your own business can become very clear, depending on how you see things. To many business owners such a time is now, with the world economy in a downturn, investors panicky and corporate budgets shrinking. Make no mistake: every business, big and small, owner- and boardroom-managed, will be affected by the downturn. Most people, your clients included, are set to have less money in their pockets, so it won't be easy.
But while you are strategising about how best to get your business through the tough times, spare a thought for your friends who've stayed in the employ of others. They, much more than business owners, are at the mercy of the global slowdown, facing forces way beyond their control. Owner-managers are very close to their clients and their staff, and in full control of their businesses. This is where you want to be when times are tough. Of course you will lose some business - almost everybody does in a downturn - but you have the freedom, combined with an intimate knowledge of your market, to position your business best to weather the storm.
|
|
You don't have to convince a board or a workforce of thousands that your business needs a change of direction, or a tightening of some slack. You can determine what is necessary and implement it. This is a difficult position with heavy responsibility, but it's better than being a tiny voiceless cog in a huge machine that may be grinding to a halt.
It is easy to become despondent when reading the mainstream business press, which is mainly written for the investment community who have much more reason to be gloomy than business owners. It is with this in mind that we present another packed edition of Espresso, full of stories of what real business owners are up to. You will see that, once again, our articles don't hide the fact that business life is difficult, but what is just as clear is that if anyone can make it through tough economic times; it is our community of business owners.
barrie@b2binsight.co.za
Click here to turn the page...
|