They Have All Been Hunkering Down
Why wait for something to improve as chances are it may not and then what?
Funny how things work as I haven't spoken to anyone on business related issues for ages. Yesterday I managed to speak to my business partner and today an ex client and a prospective client on the waiting list phoned. This was more of a sounding board to see what we have all been up to which isn't much.
I haven't missed anything as they both reiterated what I already knew as things are tough out there. They both want my product and are prepared to wait a little longer. They are currently paying excessive prices which is criminal considering how the economy is. Business is down literally 50% so if they can save 10% buying from myself then it is like gaining a decent sized client. I believe everyone should be looking out for each other and a little team work would be refreshing.
I have some ideas spinning in my head and a possible new venture which I will discuss further with my ex client. I gave him some details to investigate and gather data as I have kept the rest of the plan. He was curious, but I will not spill the beans until the data tells me I am correct on my assumptions. I have always been proactive as I hate the idea of not doing anything. Finding a niche in my industry is not that difficult if you look in the right places and is something I have pondered for sometime.
The idea of setting something up here that I can replicate else where is the end goal so this is just a stepping stone. I have given myself until the end of this year so getting involved with a new venture may sound crazy or a stroke of genius. I think I have just had enough of sitting around and know deep down this will work.
I know how bad things are right now with business having shrunk by a good 40%, but there is still room to maneuver and take advantage. I know and understand the market better than most and truly believe this down trodden economy is here for some time.
The plan of working with a connected and experienced team has more benefits than negatives as it lessens the risk of everyone involved. Trust has to be at the center of the team as I already know the volume and profitability involved. Funny as I blame Hive for how organized I think through things today. I have always been able to spot things ,but never knew how to accomplish the end goal. I am not a fan of partnerships normally, but assessing someone's character is something of a specialty now.
The businesses that can find a way to not only survive but thrive will become the market leaders in their prospective field of expertise. It is weird how you feel down in the dumps one day and the next ready to conqueror the world. I know my plan is not something I can pull off on my own and will need a team effort. Whilst business is down this is the time to act as everything like commercial property is still at discount rates.
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With the spread of economic crises, all partners want to exploit profitable projects at any cost. In your opinion, should success of companies be in multiple fields or focus in their specialization?
Stick to what you know and don't gamble outside of your knowledge.
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In light of the deteriorating economy, is it possible to think of simple projects that solve problems of members of society? I think that it will witness tremendous success
If you can stick with it through a crisis in the market and survive, you will always come out better. That’s an economic law! Keep it up
Thinking out the box these days as you have no choice. I have to do this to learn so I can do it again on my own somewhere else.
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What industry are you in mate?
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Manufacturing packaging materials like various tapes and plastic.
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Best of luck with your new plan. I hope it works into a successful venture! I can't even imagine what it must be like being unsure of what might happen from day to day. I am pretty lucky that my industry seems to be fairly secure.