They’ve started again.
The stories. The fear. The media saying we’re scared of a bad holiday – despite optimism among the trade group the National Retail Federation.
What do the stories want to present? That retailers will have a Continue reading Why Cutting Prices Didn’t Work During the Depression And Won’t Today »
I was walking through Dulles International airport in Washington Sunday when I stopped and noticed the FOX newscast on the plasma screen. They were showing another angered politician who was justifying not supporting the stimulus plan to adoring looks from the anchor. Next a graphic, “Coming up next, ‘You’re only going to get $13 from the stimulus plan, how are you going to spend it?’
According to the Arizona Republic, most families with two children will get about $800 less taken out of their paychecks for the year, that’s $15 a week or about $60 month. That’s a far cry from $13.
I think the time is now to call out the doomsayers. That’s why I am suggesting today that when you hear someone say, “Where’s my bailout for my business?” You immediately challenge them, “If any one of your customers is getting a tax credit, you got your bailout – shut up.”
Also, as a small business owner you will be able to spread losses out over two years, not just one. You can also upgrade your IT, POS and other systems with an accelerated depreciation schedule. You get the opportunity to change the way you do business and deduct it quicker. Isn’t that great?
If you encounter other people saying we should just “let the banks fail,” as I did over the weekend, challenge them! Simplistic answers are not appropriate during times of economic crisis.
If you encounter other bitter people bemoaning how “it won’t work,” challenge them. The debate over the stimulus plan is over, Obama’s signed it, it’s law. Deal with it.
Imagine being at your brother’s wedding and you overheard some guests saying, “I bet it won’t last.” You’d be ticked wouldn’t you? That’s because you had faith, hope and belief that it would work. I’m telling you this is no different. Don’t let the doom and gloom sayers win this!
Look, I know the negativity out there can be overwhelming. People are hurting but something is finally happening. We don’t have the luxury of second-guessing it or nurturing negative thoughts towards the future.
Today’s solution, call ‘em on it and let’s work to making the recovery sooner rather than later.
This is an archive post from when the recession was getting into high gear in 2008. Still applicable, business is as much about fear and mindset as possibilities…
I was at the Retail Merchants Association Economic Summit in Richmond, Virginia as the recession was gaining traction.
Bob Phibbs at Retail Merchants Alliance with Alan Gayle
You can watch the ten-minute video here on YouTube and see my thoughts.
The setup: two well-respected economists give their facts and figures and talk about the upcoming holiday season. After twenty minutes of doom and gloom, it was my turn. (On the video clip, we’ve reduced them to about a minute.)
Yes, there is a fire in the economy that is going to burn poor businesses but it doesn’t have to be you. Watch the clip to find out why and how. BTW – if you click on the “Watch in high quality,” on the bottom of the player you’ll get the best picture.
There will always be anthrax, Y2K, sars, terrorists and fear.
We can only do what we can do in our corner of the world, our business, our thoughts, our actions, our family. It’s either, “Holy crap, what now?” or “What can I do now to move myself, my business and community forward?”
That’s your choice. There is no middle ground.
