Many people will say that business is tough, money is tight, the stock market is not as stable as it could be, the global economy is dire and we see our finances ricocheting from one ‘interesting’ challenge to another. A number of business owners frequently express that they are experiencing the toughest times they have ever been through before.
It certainly feels that mattresses are getting fatter as people hoard and save, fearful of what is around the next corner. Whilst it is not true for everyone, we can’t deny the fact that these are leaner times for rather a lot of people.
Warren Buffet evidently follows a philosophy of – ‘be fearful when others are greedy and be greedy when others are fearful’. If these are such wise words then perhaps it is a time for us to consider investing and not hoarding. However, to do that effectively we need to be well educated about what will rise and what will still continue to fall.
The trouble is that the fear economy can have a devastating effect on our businesses. We can become shackled to the safe options which of course often leads us nowhere. Worse still, if we are too cautious then we are in danger of stifling our businesses to such an extent that we risk losing them completely.
I personally loathe seeing other business owners struggle and I always want to do something to help. Often their fear prevents them from taking steps to improve the way that they do things. Paying for the help and support that they so desperately need is out of the question and many of the traditional support networks are just not up to the job of dealing with the problems and issues being faced. Government funded support agencies no longer exist and we risk being left floundering with nowhere to go.
For me, I feel that it is time to take responsibility, quit whining, get out there and take action. Whatever you do, don’t do nothing. Set up a mastermind group, start a Boardroom, create a club – do something to help those around you. The benefits you can enjoy are fantastic – not only for you but for the local business community too. Facilitate a great sharing of the collective knowledge and expertise of those right on your doorstep and through a combined effort you can make a difference to your local economy.
What action can you take to help businesses around you?
Do you think that it is possible for one person to take action that can actually make a difference?
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