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Mentor Minutes,
January 01, 2023

Happy New Year

I’m not sure if this is the last newsletter of 2022 or the first newsletter of 2023. I suppose it depends where in the world you are.

It has been an interesting year and personally, I’m glad to see the back of it.

Not to dwell on the negatives I’m sure 2023 will be a much more positive and prosperous new year.

There is plenty of negatives around if you are into the economist's narrative.

It is what you make of it and how you see it.

Remember business is business. Quite frankly if there is to be a world economic recession then it is to be.

There is not a lot of control you have over it. What you do have control over is what you do with your business. It’s the only thing you have control over.

I have been through multiple economic downturns in my 35 years of business and every one has taught me something and everyone I profited from.

It makes you become thrifty. It sits you down and lets you evaluate your position.

It gets the creative juices flowing and brings on new products and services.

Resurrects old processes that work better in a downturn. After all didn’t you start your business in a downturn? Of course you did.

You started with little capital, lots of hope and enthusiasm and basically no customers.

You worked hard. You went without.

You struggled and you got through.

You built your business. So you know what to do when a downturn hits your product or service.

It might be a good time to analyse your inventory.

Are you holding stock that you could do without? Offload it.

Are you top-heavy with staff? Outsource it.

Do you need an off-sight office?

Could you work from home or office share?

The possibilities are endless.

Remember when the going gets tough the tough get going. All possible things to think about.

On the other hand what if it is boom time? Your product might just be the one that booms in these conditions.

It may be an opportunity to gear up and take advantage of the prevailing conditions.

One thing is for sure, keep your focus on the process and take your eye off the scoreboard.

As the gambler sang…” never count your money, till the dealings done”.

Have a healthy prosperous happy new year.

Until next month, keep moving forward.

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