What Will Be With This Recession?

iyazam

It seems like every day things are just falling apart everywhere. Jobs are disappearing, entrepreneurs are holding back on their dreams...
Do you see a light in the end of this dark tunnel? 

iyazam

Here is how I see it: What ever the reasons for this financial crisis are, 
following the news on a daily basis one cannot ignore the amount of
corporate executives that have been arrested for scams and what not,
there seems to be unbelievable mad obsession for money.
Judaism teaches that wealth is a challenge. It is not a bad thing and
the one who creates wealth is not evil..but its a challenge. The Talmud
teaches us that when a man has one - he wants two and when he has
two...mmm why not some more. This is the problem of our society and the
culture that we live in. So many people reach the highest levels of
wealth and success and yet its still not enough and they feel the need
to do what it takes even at the expense of spending years in prison
just to satisfy themselves for a moment or two.In my humble opinion this is the main cause of this global financial crisis.What
can we learn from this crisis? Well, I think the main issue here is
that each and every person needs to ask him or her self: What is my real
reason for starting a business? Is it my obsession for money? Or am I
trying to make this world a better place by bringing quality services
and products to the marketplace? Obviously the money issue is a
critical ingredient here but if your focus is only on the money - this
actually may end up `blinding` you from seeing the real purpose in your
business.Over the weekend I was reading the newspapers. Now if
you really want something that will destroy your weekend - by all means
read the paper. Its really depressing! In any case I was reading an
interview with this former CEO who was running a multi- million dollar
company and when the markets started to crash a few weeks ago....so did
his company. This CEO was talking about how when times were good before
the crash - "the money was flowing in from every direction" ...and what
did they do? They partied! and oh boy did they party. The company
leadership would take this money and pish it out on parties....but no
fear cause "the money was flowing in from every directions". This
uncontrolled behavior ripped the guts out of his company.Is there hope? Of course there is.
There is hope when people will begin to understand that its honesty,
business ethics, integrity, truth and social responsibility - That
builds a business and a strong economy.

nevadascul

I don`t depend on newspapers for the real story on America.  Newspapers to often overlook positive events.  There are thousands of businesses for instance that haven`t failed.  There are areas in the country where the economy hasn`t tanked.  But, these stories aren`t news worthy.  So,  they don`t receive any news coverage. 
It`s like a book I read a long time ago called "The Man Who Walked Across America."  The author`s view of America came primarily from newspapers and news magazines.  The author became so disgusted with this country because of those stories, he decided to move to Canada.  An older gentleman who work at the university where the author went to school made a suggestion.  He suggested the author tour this country before leaving.  So, the author of the book walked across America.  What he found was an entirely different America than the news services had been presenting.  A better America.
Ok, I`m off my soap box now.

iyazam

I think that today little by little (and I really mean that!) people are beginning to understand the dangers of leading an uncontrolled shopping/spending life. We were told to live the American dream...its just another way of saying.... give me your credit card. Companies, start-ups and young entrepreneurs go on shopping sprees unheard of before in any economy.
Its all about the feeling. People want to feel important, they want to feel high class. They want to feel like a top corporate executive. The problem here is that the foundation is all messed up. A tree that does`nt have strong roots will fall. In economy the roots begin with our mindset, a strong foundation is depended on what drives us.
My hope is that people will return to the simple life. It does not mean they should give up that executive chair - but it means to lead a life of simplicity and humility.

patentandtrademark

the primary problem with this country is that money has been given to people that did not deserve it, e.g. Medicaid and social security and Medicare.

iyazam

Thanks Janie  - Everything that happens in this world is for the best. We need to look at every war and struggle that happens in this world - as one step closer to a world that is becoming a better place to live in. As if this machine thats called the world is getting cleaned out so it can operate better.
When there is a war - we fight the evil, evil must be fought because there is just no other way. It may take some time but the good will come.
The problems with the economy now - this is all happening for a reason. Maybe God is trying to tell us that we need to lead out lives in more simple matter then we were until now.I believe that this current crash is coming to `clean out the system` and everything will be much better afterwords.
In life there are dreams and then there is reality. Many times we dream about something, maybe a vacation or a business etc.. but when the dream hits reality....Its not usually what we expected.
 I hope and pray that as we dream about `the day after` this economic crash - when we will hit   that reality - it will be even much better then our dreams! 

vwebworld

It is time to evaluate you and your business in light of the current economic.

How resistant is your product or service to the impact of a recession or constrained financial environment?
How will you manage with a reduction in sales (if any) a potential increase in taxes or costs?

It`s also a time to think about what you can do to improve your environment. The payback may be an increase in your sales.

What can you do to help others? Pricing alternatives?
Improving your financial condition will put less strain on the economy.

How can you prosper in a recession?

Are there additional products or services you can offer that fit the needs of people/businesses in this economy?
Can you diversify and limit the effect of an economic downturn?

The economy may take a while to "recover", are you prepared for a multi-month recession or multi-year recession?
 
~Roland

Emyy

This is the economy rule...we cannot avoid it.Emyy12/29/2008 1:38 AM

aaronm

Yes, this country is in a cost cutting period, just like many businesses go through.  Companies in the US altogether have not grown according to previous growth estimates due to the strength of the intricate global economy and greedy CEO`s.  This being the case, investments made in small business, large business, and debt of any kind will retain a value based on nothing but speculation of future cash flows (which sets the basis for P/E and NPV based valuations of all businesses) being positive and moving in a growth trend.  This can take anywhere from 3-5 years from the beginning of the recession for us to see happen.  Nobody knows the future here, but I would say that increased trending in free cash flows will lead us towards a stronger economy.  In the meantime, the only real opportunity is for small businesses to swoop in and take business previously generated by large public companies running according to the national supply chain model.  Smaller businesses should understand local trends better than large chain companies because of the locality of management.  Many national retail chains only see the big picture, so they decide to close down stores in comparably more poorly performing areas.  The business that is generated, however, is being given to you and all the other entrepreneurs in this country.  This is truly a time of opportunity for the little guy.  But of course, for the next three years, the goal should be to just keep the doors open and establish brand loyalty.  The real money will be realized for the first six months that we recover from the recession.  Then you will see the national chains move in again, and you better hope that you have established true brand loyalty...
Aaron

jwatkins

What recession?