Small Business Owners Are Not Feeling It Just Yet
By Hazel on Mar 26, 2010 in Facts and Statistics Everyone in Business Should Know About, Featured
I was just reading Jeff Cornwell’s blog post, Confidence Improves, But Still Fragile and concurred with his position on keeping things in proper perspective when it comes to the big picture regarding the results of surveys and reports regarding the state of small business and entrepreneurs.
The National Federation of Independent Business Index of Small Business Optimism recently reported optimism has stalled for many small business owners which is no surprise to me and I’m sure no surprise to you.
What gets me about these reports is it seems each week the ever changing, popular flavor is on queue with one week its good news about the state of the economy and business then just as you consider to believe it here comes…bad news!
As primitive as it may seem, one of the best ways to get an accurate feel for the ‘grassroots level’ state of business is to just drive around your town and look at the tell-tell signs such as the numerous vacant commercial spaces, Craigslists endless ‘trying to recoup our loss’ ads listed in the business section, the many family members or neighbors who have lost their jobs, etc.
Not as sophisticated as all the bench markers, indicators, and such that have the reputation out there of “being in the know” about everything. But then again, I never have really put a lot of stock in what all the indicator sources say partly because as a seasoned entrepreneur I have found much of the data and predictions they are making don’t take into account or accurately represent the “ENTREPRENEUR” class and certainly not the “BOOTSTRAPPER” class which is really a shame because we are such a “realist” source of the pulse of American business.
Dont’ get me wrong, I am optimistic but I’ve been around long enough also to know how to call a spade a spade! We have some big problems going on in the marketplace right now and it’s not going to simply go away in a few quarters. It’s going to take sharp strategy and creativity to be considered relevant these days by your customer.
I believe one important element in being successful in twenty-first century business, will be the habit of not basing your business decisions on reports, indicators and data that are based on and rely on the ‘old models’ but rather to stay close to the pulse of your business (your customer) which often means getting dirty and manning the trenches yourself to hear that pulse.
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