This just in from BusinessWeek:
Nouriel Roubini, the NYU economist who accurately predicted the financial meltdown, writes an important commentary in The Globe and Mail about two disparate American economies: “There is a smaller one that is slowly recovering and a larger one that is still in a deep and persistent downturn,” he says.
Roubini goes on to outline two separate Economies emerging within the United States — a smaller economy driven by large corporations that has slowly begun to emerge from recession, and the larger economy that is still in a deep and persistent downturn.
Echoing what I have been discussing in recent months with small business owners and in my Twitter postings, small business owners are reacting with extreme skepticism (even pejorative sarcasm) at the White House notion that the economy is improving. It turns out, the “recovery” is only a half-truth and addresses the corporate sector which, as Professor Roubini points out, has been able to re-negotiate its debt burdens (or receive government bailout money to ease the pain).
Ironically, the largest economy is the small business sector. It should be clear by now that the small business sector is not going to get any help from this Administration. Yet waiting for a recovery is not plausible while one’s business is suffering repeated setbacks and declining revenues.
One of my suggestions would be to start thinking like a larger corporation. Big business does not think in terms of its individual storefronts; even the storefronts themselves are 100,000 sq. ft. mega-boxes versus the mom & pop sized retail establishments we see in strip centers. Wal-Mart is not thinking about its current inventory that’s on the shelf; they don’t even pay for current inventory until after it has sold…
My point is that small business owners need to get wise to the way the Government plays business. The rewards are there for the biggest players, even though they make the least difference in the total economic scheme. They are the BRANDS in the marketplace that make the headlines. Even the media (another mega-corporate empire) responds to this because it is a story that can be packaged easily.
The real story is you and I. Small business. We are the driving force of any economic recovery because we are the largest player.
The big players have websites and they transact far outside their neighborhood boundaries. At the same time, they intend to OWN whatever market they are in. They don’t play for second or third place; they realize that a loss these days equals death to their business.
How do you play outside your boundaries? With an effective website. Not just a “pretty” site that isn’t relevant to your market, but an SEO-enabled website that benefits your bottom line.
“Aren’t websites like that usually $1,500 or more?” Yes, usually. But right now, your friends in business at Kinetics Web Pro are offering exactly the right website for your bottom line growth — priced at $499. Things are already looking up for your business.
Be your own bailout.
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