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]
Posted In: Company Buzz
