What I keep hearing is that businesses don’t want to expand, take risks, or hire new people because they don’t know what direction the economy’s going to go. Supposedly this fear turns into a self-fulfilling prophecy, because most businesses are thinking the same way and nobody’s willing to get moving to generate more business in the economy.
I have to think that this represents an opportunity for businesses large and small that are willing to get off their butts and start doing something. While the competition is busy wringing their hands, you can be out gaining market share.
While the competition is skimping on their marketing budget, you can expand yours and gain more visibility in the marketplace.
While the competition is afraid to take risks and try new things, you can invest in some product development and market testing to get a new product out on the market at a discount rate.
Since the competition is afraid to hire new employees, you are in a position to hire someone good at a reasonable rate. What about taking on a part-timer? A paid intern? A promising young person with little hard experience? A bright, creative, diligent worker who only has a high-school degree? An older person who might appear “over-qualified” on paper but would love to have a great job working for you?
AB — 2 September 2011