HAVE WE FORGOTTEN how to manage our businesses for growth? Economic downturn, Recession, Bottomed-out, Double-Dip. No matter where we are in the economic cycle, we should be proactive, not reactive, by planning and positioning ourselves for an economic recovery before it happens. Many great businesses that are prepared for the upturn, will ride the leading edge of the wave of recovery, and be well positioned to claim an even stronger market position than before the recession.
Recessions challenge businesses of all sizes, but it also helps to create a level playing field between them. As small businesses, we have a strong advantage over large businesses, not only to weather-out the recession, but to react quicker than large businesses, and take advantage of a recovery. As small businesses, we can take advantage of the opportunities in a recovery quicker and more effectively than large companies, because of our flatter organization structure, and ability to make and execute decisions faster. More…
Entrepreneurs Face “Field of Dreams”
Family Business Forum News
by Jim Klaes
Rieva Lesonsky, Editor in Chief of Entrepreneur Magazine, spoke to members of the UTEP Family Business Forum about her own personal experiences growing up amid two family businesses during a luncheon address at the El Paso Club on Friday, March 10.
Ms. Lesonsky, who was appointed to the Small Business Administration’s National Advisory Council in 1994, has been associated with all types of business–family and otherwise–during the course of more than a dozen years with Entrepreneur.She also is a frequent guest on national television shows, such as “Oprah,” speaking about a variety of topics such as women in business and family business.
Lesonsky told how growing up in the world of family business differs from the real world.”I never heard of working 9 to 5 until I was almost out of high school,” she related.”I thought all dads worked on Saturdays.”Her father and one grandfather owned a men’s clothing store, while her other grandfather owned a liquor store with her uncle.Both businesses, however, failed. More…