The storm is settling. Many businesses suffered injuries during the last year's recession in varying proportion. The global economic recession that picked in 2008 was drastic to both big, medium and small scale enterprises. Recent economic reports released this year have shown some recovery from the injury of economic recession across the globe.
Will you be sitting down and still mourning over the losses you encountered in 2008? Or should you be planning ahead. I see this moment as a time to position for future economic boom therefore you need to be alert in the mind to take up the challenge.
First, you need to evaluate the economy at large and your business .... Sit down and look at all the sectors of the economy, discover the areas endangered most and seek for business opportunities embodied by them. You have a business skill, so you should think on how to retain and perform better with this skill in the midst of the current challenges. Survey your managerial abilities and seek for improvement where necessary in order to be able to steer your direction to success. Information is very important as you need to update yourself to be able to make changes and to discover new business opportunities.
Then create a plan and state your priority. From the information you gathered from above inquiries, you need to methodically map and chart your course, and then allow it to be scrutinized as a part of your preparation. A man without a plan is like a ship without a rudder, only to be taken in whichever direction the wind may be blowing. A "plan" is the rudder of success, bringing direction and purpose to the entrepreneur.
Create a new and bold vision by looking back to the changes that have occurred in your market and the knowledge you have gathered through the economic recession experience.
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- ▼ October (18)