With daily headlines showing the effects of the consumer credit squeeze on small, medium and large business, job security, rising prices and falling house prices you may notice that these events dramatically show that there is a flaw in thinking that simply owning your own business is a route to security, financial freedom and early retirement.
When economic factors dominate the market place, if you are in business, then you will have to rethink your marketing strategies. If you are to survive the next few years of the economic downturn you will have to spend some quality time thinking through how you are going to escape the trend that is affecting even large corporate companies such as Next, French Connection and more recently XL Airways.
The economic climate is determining how any company simply must react in order to stop themselves, their employees and their livelihoods becoming a statistic in one of the headlines over the coming months and it is one of the most misunderstood aspects of why owning your own small retail business is seriously overrated.
1.Your rent and rates are due no matter how many customers walked through your door in the last month.
2.You have to keep a full stock of goods to sell in order to keep your order books as full as possible.
3.You will almost always, unless extremely profitable feel that opening up every day is a chore rather than a pleasure.
4.You will have to become an agony aunt to your staff, a bookkeeper for your accountant and bank, a slave to your suppliers and a prisoner to your opening hours.
5.You will learn that nobody really cares whether you take a day off or not in the next 12 months, as long as you are open when they want you to be.
6.You will find out that the bank manager who said yes on day one can change their mind very quickly in a very short space of time.
7.You will become a master of problem solving and end up working in your business rather than on your business 50 weeks of the year with two weeks off for good behaviour if you are lucky.
Thankfully there is a better way, and much less expensive way to become a small business owner and that is to work from home. It is the dream of most people to have their own business and be able to spend more time with their loved ones. In most cases the time and money freedom that people seek, is often replaced with either too much time, but not enough money to enjoy the time they have or having to work so many hours for the small amount of money required for even basic living standards they run out of time.
Working from home and becoming an entrepreneur is the only real route to having time and money freedom. You really do not need to reinvent the wheel, just find an existing business with products that are recession proof and be flexible enough to know that there will be a learning curve at first. In reality you knew nothing about your current job or business when you started so there is no real difference when taking on something new to learn.
When you start to work online from home, you will find a whole new community waiting to welcome you, train you and mentor you to a much more flexible business of your own, plus build a skill set that will literally help you for the rest of your life.
Your Own Retail Business
Decisions on how to keep your retail business operations up and running during a hurricane or other emergency situation must be communicated quickly. Hurricane Katrina and hurricane Ike poignantly identified that land lines and cell phones were of little or no value for an extended time period. Only satellite phones provided an effective method of communication during this critical period!
Ask any owner or manager about their retail store's disaster or crisis management plan and they will probably tell you that one is in existence somewhere. Upon further examination, you will usually find that the disaster plan is only a simple checklist that is minimally helpful and most employees are not even aware of it. You may also find that a more extensive plan exists for data recovery, which is important, but not all inclusive.
Many stores overlook a communications plan, and, more importantly a communications vehicle. How will your company maintain continuity and re-allocate inventory and assets to and from an affected area? How will the owner or manager make critical decisions and communicate these decisions to key staff members? How will you communicate with Suppliers? Customers? Employees? Investors?
During times of crisis, communication between several groups of people is essential in order for a store to survive. These include: employees, suppliers and vendors, customers and potential customers, and the general public. It is critical to the ongoing success of a retail business that communications with each of these groups be maintained or be restored as quickly as possible during the recovery period to minimize disruption. Owners need to be aware of critical decisions that are being made and know that the store's manager is dealing with the crisis in the most effective manner possible. Employees need to know which roles they need to fill, whether or not they still have jobs and when they will be able to return to work. Customers and potential customers need to know if the business is able to function during a recovery period and if it will be able to provide the needed products or services.
Over the past two decades, technology has quickly changed the methods and the speed with which we communicate. Electronic technology has made it possible to reach groups of people easily and quickly through the use of telephones, fax machines, cell phones, e-mail, text messaging, the Internet and mass communications such as radio and television. All of these systems have one thing in common, they are ground based, which often renders them useless during disasters and times of crisis. Natural and man-made disasters can, and do, disrupt ground based communications systems leaving businesses and the general population without even the most basic of communication methods.
However, a satellite phone is unaffected by natural disasters on the ground, and continues to functionally and efficiently operate allowing you to maintain communication as well as maintain business continuity. The longer period of time your retail business is without communication, the more customers you will lose to competitors and the greater the chance of business failure. Protect your retail business by including satellite phones in your business disaster or emergency management plan. Keep the lines of communication open and remain operational while you recover from the damage caused by a natural disaster or emergency situation.
Both Diane Cossie & Lou Altman are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Diane Cossie has sinced written about articles on various topics from self improvement and motivation, Children and Culture and Society. Diane Cossie has decided to stop waiting for her ship to come in and decided to swim out to meet it. She has continues her passive income march to financial freedom with her primary business Carbon Copy Pro. For more information about the opportunity visi. Diane Cossie's top article generates over 33100 views. to your Favourites.
Lou Altman has sinced written about articles on various topics from Phones, Web Development and A Secured Loan. Lou Altman is the CEO and Founder of GlobaFone, an award winning, leading provider of and global wireless solutions to Government. Lou Altman's top article generates over 5400 views. to your Favourites.
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