My Friend is Surviving...
I met an old childhood friend at the NY Gift Show as I was walking the aisles. Actually, I sought him out in order to say hello and to see how his business is doing. He was probably average of executives at any of the shows this summer; optimistic on the outside and scared on the inside.
He took me through the stream of consciousness that has been playing in his head over the last year;
“I missed my chance to sell my business… This industry is doomed … I’ve got to get out … I can’t get out … I really like what I do and my company… I don’t want to get a J.O.B. … I can probably live on 30% less sales … Dang, I could have made a ton of money if I’d always run my business this lean…OK, I’m making a profit again and going to hang in there….”
And so it goes. Another CEO who has learned to survive in this business, maintain his lifestyle and not have to get a job (with a boss). This industry is survivable and provides a great life for tens (hundreds?) of thousands of folks around the world.
I know things are tough out there right now but keep your spirits up, there is always someone finding ways to survive worse circumstances. One of our current clients is battling cancer and a 60% drop in sales. His business is now cash positive with projected growth and a restructured loan agreement with his bank.
Hang in there, 2010 will most certainly bring a lift in everyone’s business, spirits and checkbook.
Curious to learn how a business turnaround really works? Download the Free Booklet explaining the seven steps in great detail. www.DorsetPartners.com