With the fragility of our supply chain exposed, will there be any long term changes? Has partnering with countries who have a different governing philosophy made us vulnerable? Will small businesses who are struggling with their labor forces ever fully recover? What steps can small businesses take to protect themselves from market trends and natural disruptions? Is it easier for poorly managed businesses to survive in a thriving economy than in a caustic business atmosphere?
As we start a new year, all of these questions need to be asked. Sometimes the hardest question to ask is when you are looking in a mirror and asking yourself, “Am I a good business manager? Do I have the skills and the vision to take my business from mere existence to a growing thriving organization?”
Are you waiting on a favorable economic atmosphere to influence a positive business outcome, or are you making strategic changes to flourish regardless of what the rest of the economy is doing? If you look around the world, you will notice businesses in every type of country and economic atmosphere attaining success. Regardless of outside influences, there are people who are working on their businesses, not in them, and they are able to identify markets and opportunities to achieve success when other companies are faltering.
Competition or Compassion?
Even though we are thrilled to read stories which are reported during the holiday season of individual compassion and charity for our fellow man, there is no such thing as business compassion. The world economy gobbles up, chews on, and spits out many businesses every year. The competition will relish in your business’s demise as they perceive the ousting of your company as a victory for theirs. Unfortunately, this type of thinking is wrong, but still exists. It is better to have more thriving businesses that produce jobs and competition than to have fewer players. Competition makes your company better and stronger. Competition is good for the consumer as it helps to give them choices and keep the market in balance. There is always enough for everyone if you are a strong competitor.
A New Year for New Resolutions
What can you do to plan your success for 2022? Are you going to make a resolution to start working on your business instead of in it? I don’t particularly like doing book work or sitting behind a desk. I would rather make something with my hands than to study, but I was able to be successful because of my association with people who were smarter than me. Just as I would never have the answers to the previous questions, I knew people who did have the answers and my affiliation with NARSA/IDEA led to meeting those people who would provide the information to help me be successful. Information is the key and your ability to obtain and act on information is what will power your growth.
Part of asking the questions outlined in the beginning of this editorial is taking the time to analyze where you have been, where you are going, and how you are going to get there.
NARSA/IDEA is also planning our next conference in Texas May 5-6, 2022. Mark your calendars, and reserve these dates so you can take advantage of the wealth of information that can be tapped into at an in-person meeting.
Be sure to check our website http://narsa-idea.org and follow @narsanow on social media as we will be releasing more information about programming soon.
The NARSA/ IDEA staff and Board of Directors wishes everyone a Happy and Prosperous New Year.
Mark Taylor
NARSA/IDEA Executive Director
mtaylor@narsa.org
(410) 320-5119