Archive for February, 2010

How’s business?

February 10, 2010

It’s not hard to find predictions for the U.S. economy in today’s 24/7 media frenzy.   If you look around long enough you’ll find one that predicts just about every possible scenario.   One of the direst comes from Russia, where a former KGB agent is asserting our country will enter into civil war, the dollar will collapse and our nation will break into six pieces in 2010 – with Alaska reverting to Russian control!  This baloney was not reported on some fringe website, but by the Wall Street Journal.  The media will keep throwing darts hoping they’ll land somewhere accurate or entertaining.  Meanwhile, it’s small business owners and their employees doing the heavy lifting in this economy, and we’ve got to keep our ear to the ground for valuable information.

From 1980-2005, firms less than five years old accounted for all net job growth in the country. In 2007 alone, young firms (1-5 years old) accounted for nearly two-thirds of job creation.  As such a singularly vital part of the economy, we should look to each other for ideas.  That’s one of the biggest benefits in a shared office environment: the day to day opportunities to exchange practical information with other small business owners, employees and burgeoning entrepreneurs.  Going to work and connecting with your neighbor becomes a way to expand your understanding of your own business.  Another way we can increase our individual prowess is to present an organized front to legislators.  Kaufman, the foundation for entrepreneurship, is one group dedicated to doing that.  They aim to organize entrepreneurs to confront fundamental issues needed to achieve an improved small business climate.

At The Suites Collection, we are researching some big new trends in our sector and examining how we can incorporate these new approaches in 2010.  Change is constant in every business, and we are working hard to understand how our changes will affect us at every level – from daily operations to upper level management to the overarching marketing strategies.  Even though the specifics of each business may be unique, the subjects we tackle are the same.  We know we’ve got to stay nimble and find ways to do more with less.  Flexibility, affordability and adaptability are the new economy key words and they are here to stay.

Advertisements