Don’t Let Wall Street Paralyze You to Inaction versus Intelligent Reaction!

The economy is closely identified with Wall Street, although we continue to see the ripple affects in Fortune 500 company job cuts and major reductions in consumer spending nationwide. Since so many still ask me about the economy despite many blogs on the topic over the last couple of months, I thought it best to reiterate and expand on the topic. Too many entrepreneurs and business owners are indeed paralyzed by fear, a fear that begins on Wall Street and affects the entire economy. The alternative reaction is critical to our country, namely small business owners that seek solutions and resolutions to overcome slowed consumer spending or a credit crunch in their industry and/or market area.

It is an undeniable fact that consumer spending is down, and it will likely stay down through 2009 and into 2010. However, consumers are still spending and lenders are still lending…just less depending on several factors. The two primary factors for consumers is their own personal job security and the impact they have felt with their nest egg as stocks have decreased in value. Nonetheless, entire industries and their employees are virtually not impacted by the recession, such as healthcare and education.

Business owners face the choice of inaction or expanded efforts of reaction to a slowed economy. There is opportunity for those that act as so many business owners and entrepreneurs alike will sit on the sidelines during these times. New and revised intelligent and low cost marketing efforts focused on consumer value will position companies to increase their market share due to the inaction of others, which can more than offset shrinking consumer demand. Even the smallest business can be like Wal-Mart in offering affordable solutions one product or service at a time and see their sales increase during these times, just as Wal-Mart has done.

The choice is yours…inaction or expanded efforts to take advantage of this marketplace to maintain or even increase your market share. We offer a FREE consultation on your business or marketing plan(s) (tim@thebusinessplanconsultants.com) .