As we ring in the new year, Small Business in the US finds itself confronting enormous challenges. Most people that I have spoken to have simply run out of superlatives to describe the challenges that we face going forward. There is no need to enumerate them here. Chances are you have another tab open in your browser with News in it. Need I say more?
As with most challenges in life, the best way to manage through them is often to go back to the basics of the situation and address situations that are within our control in order of priority. The desired goal: Generate more revenue and create more profit.
This is, of course, far more difficult than it seems - because it is simply another version of the oft-repeated phrase "buy low, sell high" - right, no problem. It is just not that simple. Business never is.
Over more than 20 years in the business world, I have watched others navigate these difficult waters and done so myself. It has not always ended well. As human beings, we have a remarkable capability to convince ourselves of "how things really are". Some would posit that the act of doing so is one of the ways that we turn our thoughts/plans into reality. In that case, it is our ultimate strength. In other cases, when we mis-interpret conditions or rely too much on our passion for a particular situation to guide us, it can become risky. Sometimes this results in even greater success, other times in great failure.
No one can advise a particular Small Business on how to succeed in these times through a blog, or book.
What, in my opinion, can be done is to educate Small Businesses on particular issues that confront them. In my case, it is Technology. The Effective use of Technology in Small Business.
Use of technology in small business is a very broad topic, running the gamut from companies with one person who "goes on the internet to check the email", to those who run online businesses or create technology for other businesses to use. Most are in the middle - using technology to improve communication and productivity.
Regardless of where your company is on this spectrum, you must do your best to ensure that your use of technology is appropriate and effective for you. Failure to manage this part of your business would be akin to buying raw/source materials for your finished product without monitoring the price in the market, other sources, etc. Following this example to its logical conclusions, you would therefore, a) be out of touch with your costs, b) be unable to effectively price your end-product in the market, c) not be in control of the quality of your end-product.
I intend to begin posting on a group of topics, giving each a relatively high-level overview form of treatment. By doing that, I feel that I can communicate a framework of concepts that I feel are beneficial. Once these are completed (and perhaps a bit along the way :), I will be able to go back and provide more detail.
As I move forward I look forward to hearing from you. Of particular interest to me at this time are particular issues that you have wrestled with in the past, or issues that you would like to see mentioned.
Welcome!
