Small Business Profit:: Possibility Or Dream?

By Author: Tom Clifton
Total Articles: 13
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Small Business Profit - has this been put on hold whilst we live through the downturn? Or is it available for those who see the tough market place as an opportunity?

You can't pick up a newspaper or magazine or turn on the TV or radio without getting a constant onslaught of bad news about the economy.

Let's face it, it's getting pretty tough out there.

What's up? Petrol prices, inflation, unemployment, food prices, crime, gas and electricity prices, taxes, mortgages, home repossessions, bankruptcies -that's what's up!

What's crashed? Stock market, house prices, banks, your spending power, value of the pound, wages....

It's hard to remember a more worrying or bleaker time. Small Business Profit seems as likely as a lottery win. And whilst the phrase "Credit Crunch" makes it all sound like a new breakfast cereal, the reality is that individuals and businesses are about to go through a couple of years of financial hell.

Some business owners are borrowing more (if their bank let's them!) just to keep their business ticking over and some have already had enough and ...
... have thrown in the towel.

It's Bloodbath Britain, despite what Brown and Co would like us to believe. (Have you noticed how those who are well cushioned financially are those who have the audacity to go on TV and tell us that it's all about "readjustment for the foreseeable future"?)

This current situation is extremely serious for most small to medium business owners.

So what's to be done?

Firstly, you can sit back and dream that "tomorrow it might get better - it just can't get any worse".

Secondly, you can put your hands up now and go and do something else - that is, if there's anything available to do.

Thirdly, you can resort to good luck charms? Prayer? Extra lottery tickets?

OR......

You can grab this opportunity by the scruff of the neck and attack the market you're in!

Yes, we said "opportunity".

Let me explain - most business owners are tired - worn down with the gloom and doom. Most will sit back and cross their fingers - hoping they'll wake up and realise it's all been a bad dream. And sadly, because of sitting back, many will be forced to give up the ghost in the not too distant future.

However, these scary market conditions present those with the courage and the knowledge to not only survive but thrive.

Small Business Profit is more than a distinct possibility.

It really doesn't matter whether you're a chinese restaurant, baker,computer shop, chiropodist, accountant - whatever! If you have a business today, then you must take a cold, hard look at everything RIGHT NOW and restructure to ensure you're going to avoid being a casualty.

Yes, it's a tough call - but we're in very tough times. And you need to be a little "Spock Like" to do it - yes, we do mean the Spock of Startrek fame - big ears, loads of cold reasoning and no emotion.

Tom Clifton is a business strategist who specialises in turning small/medium businesses around. "Don't just survive, but thrive" is his mantra for the current tough market conditions. Catch Tom's words of wisdom on business strategy and making your business fly at http://www.small-business-profit.co.uk.