Odds are that business will get a whole lot tougher before it gets easier. And that doesn’t matter who wins the election.
If McCain pulls off a miracle, let’s face it, the Republicans today are ill-equipped to truly lead.
If Obama strolls into the White House in January, you as a business owner can begin thinking of yourself as one large teat (that’s a polite way of spelling tit). You will get no help from the government, but you will pay more taxes and endure more regulation (yes, even for small businesses).
So, why is that good news? Because only those who know how to plan, work, assess and hang tough will survive. So, if you’re one of them — someone willing to dig in and do what it takes — you will survive the coming lean times.
Still, why is that good news? Well, this downturn will shake off the easy-money come-alongs who hung out a shingle and called themselves entrepreneurs when times were easy. Many of your weaker (albeit annoying) competitors will be looking for salaried jobs by Christmas 2009. That means less competition, and …
Less competition will mean more opportunity in the long run. No, it won’t be easy, but that’s our secret weapon: We weren’t looking for easy when we made the cockeyed decision to become SBOs.
How long will the suffering go on? I’m no economic crystal-baller. However — and this is the weird part — if Obama wins next month, there will be a two-year, kids-in-the-candy-store splurge, followed by a Republican return to control in 2010. (And hopefully, the Republicans will be ready to lead by then.) If McCain wins, we are likely to have two years of modest confusion and some — but not enough — recovery, followed by a return to the chaos of 2008 in 2010, because the Dems will capitalize on the mid-term elections.
The bottom line: Neither party cares a whole lot for SBOs these days. So, do what you do best — roll up your sleeves, dig in, and do what YOU have to do to survive and maybe even thrive during these lean times. Good luck. — JRI
“There is no security on this earth.
– Douglas MacArthur
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