Is Your Business Really Part Of The Community?
When economic times get tough, many small business people find themselves in a world of hurt, debt and worry; worried about staying in business without going bankrupt. As a retired Franchisor having risen from a small business person myself; I know the value of being one with the community - supporting the community that supports your business.
In retirement I often note local struggling businesses and review their community involvement track records during tough economic times. These businesses were not involved in the community in the way they could or should have been. You see, goodole' boy networks are nice and being part of the community helps too over time.
Everyone else shows up when the getting is good and then suddenly disappear when things dry up. We sure noticed that in our businesses. The companies that support the community and have the real relationships and contacts that go way back can survive. Let's use the construction business in Southern California as an example. During the height of the housing bubble, everyone was suddenly in the construction business.
Well, I can tell you I never saw so much shoddy work in Southern CA in my life during this last bubble. Most of those construction companies are now out of business, equipment being repossessed and employees looking for work. Sure construction now is tough on everyone, and I see some contractors now driving out to fire areas to re-build, insurance work, so there is some business, it's just not perhaps geographically desirable sometimes. But there is local construction work for those who have stuck by the community through thick and thin, Perhaps a lesson worth remembering.