“Wouldn’t it save administrative costs if I just started giving my money to random rich people?”
That was Jim Henley's _________ (you can fill in the blank there) remark about the $700B bailout package. I took it as a joke and its face value, but it sure does worth a thought, especially when you hear on the evening news that after AIG got their share, they sent their top executives to a lavish retreat. Woh? Or, wahh!?
Moving on, I was hoping for a complete reversal on the financial movement at Wall Street, and the rest of the world, after both houses of the US congress approved the fed's bailout package for the ailing financial institutions in the US. While hoping for better results are good, albeit reality bites. The US financial crisis has created an unstoppable ripple across the world’s financial waters. Many investors are now shying away from investing in high-risk businesses, including eCommerce or dot.com based ventures.
Where do small business owners, like me, should position? Expand or fold? Is that how desperate the situation is? Alternatively, would this be the right time to venture on online businesses instead, as the bigger players seem to avoid therefrom?
Moving on, I was hoping for a complete reversal on the financial movement at Wall Street, and the rest of the world, after both houses of the US congress approved the fed's bailout package for the ailing financial institutions in the US. While hoping for better results are good, albeit reality bites. The US financial crisis has created an unstoppable ripple across the world’s financial waters. Many investors are now shying away from investing in high-risk businesses, including eCommerce or dot.com based ventures.
Where do small business owners, like me, should position? Expand or fold? Is that how desperate the situation is? Alternatively, would this be the right time to venture on online businesses instead, as the bigger players seem to avoid therefrom?
Optimism in Crisis
While this global economic recession seems to worsen, I chose to remain positive. Yeah, I am afraid on what the (world financial or economy) holds. Who is not? However, I am embracing that fear like a business associate, for it makes me more aggressive while being extra cautious in my business decisions. There is opportunity in this financial crisis. The key is finding that business opportunity and aligning your priorities and strategies with it. As a matter of fact, this crisis made me rethink what I am currently doing, where I am doing it wrong, and how I can re-align my business goals to profit more while curtailing my operating expenses.
Opportunities in Crisis
If the bigger players are avoiding dot.com businesses, then in my opinion, this is where small businesses should set their entrepreneurial sails. This is what I am seriously considering right now. In fact, while I am at it, I am also collecting valuable information to be used in this end. This is where credible eCommerce portals, B2B and small business sites and a good webhosting blog will come handy. I am channeling my fears to educate myself more in order to make it good when I launch my online business.
How about you, where are you coming from with all of these? Your take please.
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About the Author
Nor Franco is the Managing Director and Virtual CEO of nextManager.net. He's a former corporate executive whose passion is bringing out the full potential of HR in Businesses. This time that passion is pursued through Virtual Management. He writes and blogs about his management views and insights here. Follow him on Twitter.
