TIMES ARE NEVER BETTER TO GROW YOUR BUSINESS
I certainly agree that Cash is King and that in recessionary times, companies should:
Conventional wisdom during severe downturns in the economy is to put expansion plans on hold, to hunker down and ride out the storm in every way possible.
If you are caught in the credit squeeze, maybe that’s all you can do, as you fight to keep the ship afloat in the turbulent seas of the business world. But, if you have been frugal in good times, have a good cash position and/or reliable financing sources, you couldn’t find a better time to grow your business.
As any contrarian investor will tell you, there’s a lot less shoppers and hence a lot of bargains to be had, whether you are looking for sound stocks to buy – I would imagine that Warren Buffett is licking his chops about now – or if you own or manage a business that is looking to expand your markets, your products or your expertise.
There is no better time to look at potential mergers and acquisitions! Let’s look at a three potential scenarios:
In each of the above situations, the tough times we are experiencing offers a great opportunity for growth. It’s time to expand your horizons. Prices may never be lower.
Next issue will be “Ask for Help”.
Mr. Stearman is a Freelance Business Consultant and Writer, who lives in Hong Kong He can be reached by email: email@example.com or by phone: (852) 6244-5166