What will 2009 hold for small business? Well, that’s precisely what I asked our leadership team today. Clate, Tyler, Brett and Aaron opine on what the outlook is for small business next year. I edge in a few words before the end of the year, too.
Clate Mask, our CEO, has several predictions for small business in 2009:
- The recession will bring to the forefront the Age of the Entrepreneur.
- More people will employ themselves in “small business” rather than Corporate America.
- Entrepreneurs will thrive in ‘09 while others suffer and bemoan the economy.
- Entrepreneurs will use technology to get more efficient.
- The Internet as a marketing and sales platform will continue to break down the barriers to entry for new business ventures.
- Small businesses will see efficient growth as they automate customer acquisition and communication.
Aaron Stead, our Director of Customer Service, believes that small businesses will flourish across the nation in 2009:
“History indicates that 2009 and beyond will continue to bring new small businesses to the marketplace. As in past recessions, workers get laid-off, rethink their career paths and choose to open their own small business. As these new small businesses enter, and potentially saturate a geographic or demographic market, technology will play a key role in differentiation for these small businesses. In order to survive, every small business — not just the new ones — will have to heavily lean on marketing, automation and overall efficiency. The credit situation will also play a key role in the newcomers’ abilities to sustain the tough first months of opening a business. In an effort to balance the bleak credit situation, small businesses must look to grow their sales quickly and profitably.”
Tyler Garns, our Director of Marketing, illuminates hope that small businesses will not only survive, but also thrive in 2009 with automation:
“The current economic situation will put more pressure on start-ups and existing businesses to automate and move business to the web. Since it’s so much more cost effective to run a business on the Web, that’s where more and more business owners will turn to continue to grow. Those who use social media, social networking and social marketing effectively will thrive. These methods cost nothing but time and are the most effective.
Automation will become more and more necessary as business owners feel the economic strain and need to tighten their belts. Many will be able to take advantage of technology to grow their businesses even during this tough economy. Increasingly, those people will turn to virtual assistants to aide in their growth.”
Brett Gilliland, our Built-to-Last Champion, sees the advantage of the Web and agility for small businesses compared to larger corporations:
“I predict small businesses are finding ways to survive much easier than the ‘well-established’, big stodgy companies. Speed and innovation will be critical to small business success in 2009…automation assisting on both fronts. Of course, the Web will continue to become a requirement to be in the game at all. Even traditional small businesses offering services will need to learn how to educate prospects and customers, capture leads, and market via the Web.”
Personally, I believe that the economic challenges for small business owners will result in innovation in 2009. Instead of introducing new products, innovate and create better products (the Apple way). Toward that end, businesses will need to reconsider their business models and become more accountable for every penny that comes in and goes out.
These challenges aren’t necessarily bad things, I mean, when companies fail to innovate, the market expires the business. Now, the economy and most markets say it’s OK to sweat and work a little harder to get better results. Maintaining an optimistic and realistic attitude delivers to sustainable growth. (Unless you’re Chrysler or GM, hop in your private jet and beg Congress to fix your failure to innovate with taxpayer’s money. Then on your flight back, drop six figures on full page newspaper advertisements.) For the rest of us, that means thinking ‘lean’ but raising the bar on quality, which will increase consumer and investor confidence.
John Jantsch held a virtual roundtable predicting what’s next for small business in ‘09 from thought leaders around the Web. I’m sure you’ll agree with the overall response — indicating that small business owners are motivated and ready to grow in ‘09.
In any case, we wish every business owner a successful and rewarding New Year. We hope you have fun, drive safe and be optimistic to grow your business. It’s your moment, master it.
[Image credit: Sally M on Flickr]
Hello Guys,
Excellent Article, you guys really have an eye on the future and where it’s headed. I hear everyday on the News Channels about how bad the economy is, and how businesses are suffering because of failed business pratices.
How this recession is worst than the one in the 1940’s. I mean just look at the major company’s and industry’s that are going out of business.
Thousands of people who are losing their jobs.
I totally agree that when people are out of work and have to support their families, they will seek to open their own business, so this never happens again.
People are coming to the internet by the thousands everyday looking for ways to supplement their incomes or start a “Work At Home Business”, so it makes perfect sense that in order to become a successful online business owner, automation is the key to success.
And you guys at InfusionSoft are at the Forefront in Business Automation Software Systems.
Thank You,
Ricardo Weatherly
[...] tackling a task as big as a new year. Take a look at some of these stories to see how 2009 can be your big year. Then start to prepare for the challenge of developing a successful company, brand, or product. [...]
Great Article Joe, and to everyone else that contributed, thank you.
If you don’t mind I will put a link to an article that I have written. Actually it is an excerpt from one of the Chapters in a Book that I am in the process of finishing, which is currently being called “Developing Creative Business SOULutions”. I am not sure about the final title yet. The article is called “The Creation Society – What is it? And How to become a Creatreprenuer”… I think it is well in line with what Infusionsoft is doing.
http://www.kjbarrettcrm.com/Articles/Creation_Society_Article.pdf
I would really enjoy having your input on this…..
Thanks again, and Keep On Doing what you are doing…. Probably, it is more accurate to say…. Keep “Being who you ARE”
Kevin Barrett
http://www.kjbarrettcrm.com
I’m on board with business models and changing them. Challenge expenses, turn them into revenue. Drop old structure and create new rules. Insurance is a huge cost, one of the drivers of innovation and out sourcing. Insurance companies (in my experience) are rule maker and not movers. Today there are no “have too’s” Paying certain insurances can be eliminated,reduced, or outsourced. The bottom line in business I think and the thing not being clearly addressed is the fact that the number of quality people to execute well is decreasing?
This is the economic wild card that people just aren’t addressing, why?
Technology elimanates the need for people in some areas and create the need in others.
Is the need being eliminated bigger than the one created?
Great post.
Thanks for the comments Ricardo, Kevin and J. Crawford!
It’s nice to see that I’m not the only sane person who believes small business will grow in ‘09.
I hate to say it, but the fact remains that if large company maintain their methods of their wasteful spending and inhibiting innovation , more employees will be out on their own forcing themselves into entrepreneurship. I’m with you Kevin that small business owners need to pour their soul into their business. Mr. Crawford, you make a good point, “Challenge expenses, turn them into revenue.” It’s important for every entrepreneur out there to say ‘no’ to the naysayers and to go out and innovate, make change for others and in turn success will follow them.
Thanks for the comments. I appreciate it. If you haven’t done so already, go ahead and subscribe to the feed along the upper right side.
Thanks,
Joe