It seems that worry is the fulltime job of a small business owner. From community health concerns to manpower shortages, supply chain Inconsistencies to economic fluctuation, society tends to focus on what the perils are. I say, “Let’s focus on the positives for a minute.”
Small businesses have strengths such as:
Agility. Small means weekly or daily brainstorming sessions with staff. New ideas can be tested immediately and modified to perfection.
Innovation. Small businesses think like startups, constantly looking towards what’s new in the way of procedures and products. Having a multigenerational team is a triple blessing.
Efficiency. Without bureaucracy miring down the transition from inspiration to application, small businesses have a competitive edge.
Goodwill. A strong sense of community and hard work to give quality products and service at the best possible price.
My word of advice to a small business in today’s economy is to remember the idioms of our predecessors like “Watch your pennies and the dollars will follow” still have merit. Watch potential cashflow leaks by reviewing your PandL’s regularly (With today’s bookkeeping software, this is easier than ever).
Also, give yourself a break: if an idea didn’t work, learn from it and move forward. Our most precious commodities are time and energy.
From an antique store in the SE Hillsboro Murphy family home during the Recession of 1973 to 1975 to a family legacy and full line furniture store, Murphy’s celebrates their 49th Anniversary during September. Come join us!
Murphy’s Furniture
2962 Baseline Street
Cornelius, OR 97113
503-640-1124
