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Surviving in interesting times……

Our business world is messy and unpredictable. It is being challenged by fast changing technology, globalization, a credit crunch and a recession. We have been bombarded this week, and last, by two conventions in which two parties called each other liars. Our stock market is up one day and down the next; the same goes with precious metal investing.  Interest rates on savings are nonexistent and many are unsure if it is a good time to expand or to slow down business growth.

In all this confusion, as business owners, we are expected to make the right survival decision for our small businesses. Many small business owners are overwhelmed at all this uncertainty and are struggling as to what direction to take and how to get there.

If you are looking for an easy answer, you won’t find it here. Managing and growing a business is one of the toughest jobs in the world. I am going to share a few characteristics that are usually found in survivors:

  • They are great listeners and people follow and believe others with that attribute
  • They are not attached to their own assumptions and beliefs. They may have strong opinions, but can be challenged and will accept other options.
  • While leaders are usually upbeat, they also can get discouraged when business goes the wrong way.  The difference is they figure out how to correct a problem by asking questions and asking for help.
  • Survivors are always learning. Status Quo is not an option.
  • Surviving business owners know that fear can destroy a business. Running a business from a fear perspective will most certainly result in failure.
  • Surviving business owners are real people and act that way. They have families to share their lives. They are accessible to family friends and customers.
    • Most important is the recognition of their own strengths and weaknesses, and they are constantly working to improve themselves.

An open mind and heart along with determination and perseverance are the best survivor tools I know.

Nick J. Petra CFP     Helping your grow your business is our only business©

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