If you’re a small business owner or a manager in a larger company, this is the question you should be asking yourself. Many of us had to make tough decisions at the beginning of the recession, and now with a possible recovery on the horizon we need to re-examine those decisions.
It may not feel like it yet in your town or in your industry, but there are indications that things are getting better. After a year or more of hunkering down, it is probably a good time to consider what the recession has done to your business and your industry. At some point, whether now or in a few months, business owners are going to have to switch from playing defense to playing offense.
For many of us, hiring freezes, layoffs, salary reductions and furloughs have helped us survive, but they have probably caused collateral damage to the psyche and bank accounts of our employees. Most of them went along with the program because they understood and because they had few options. But those options are coming. More companies are going to start to hire again. This should mean several things to business owners.
I suspect that many entrepreneurs have figured this out already. You have to be nimble in business, and making quick adjustments is critical to success.
This also bodes well for anyone looking for a job. Circle back to the leads you followed six or even three months ago and see if their situation has changed. You might find opportunities where they didn’t exist before as more companies start to play offense again.
