Recession can have positives
If every cloud has a silver lining then the one inside the economic recession that has gripped our nation for the past year would be that it has caused businesses in nearly every sector to evaluate everything they do.
Across the nation, companies have been faced with a shrinking market and fearful consumers. Perhaps no industry has been hit as hard as the automotive manufacturers and dealers.
But an examination of Lawrence County’s dealers show that most have continued to be successful by doing three things all businesses should be doing during these uncertain economic times: Getting back to the fundamentals of the business, focusing on customer service and analyzing its entire operation for inefficiencies or ways to cut costs.
For the car dealers this means used cars and service on vehicles that have already been sold.
That doesn’t mean they can abandon new car sales; it just means that this back-to-basics approach can provide a strong foundation for the future.
And the same goes for every other business or industry. Regardless of the economy, these core principles will serve business owners well.
Businesses won’t survive if they keep operating under the status quo. Those who use this as an opportunity to improve and change will come out with a stronger position in the market, regardless of the economic woes our nation faces.