Maintain Your Enthusiasm
If any single thing is key to small business success, it's maintaining an optimistic, enthusiastic attitude.
Even in the best of times, tire dealers and employees face daily challenges. When the economy is slowing, these challenges are magnified. To overcome them and to keep moving forward, an enthusiastic attitude is crucial.
1. Maintain a positive outlook. Rises and falls in the general economy are inevitable, so don't let the falls demoralize you. Accept the business climate and make the most of what you have to work with. Even if your retirement investments have fallen significantly in value, you can't afford to let it darken your psychology. You need to put forth your full energy every day, without loss of optimism. Becoming affected by drops in the market will inevitably result in loss of energy and zest.
2. Look toward the future. By making proper operational adjustments during a downturn, it's likely you might be able to strengthen your company for the long term. Cutting costs, pricing goods and services to be competitive, utilizing employees in the best ways possible and learning how to be profitable even in the leanest of times can create a company that will flourish when the economy recovers and is positioned to withstand future economic slowdowns.
3. Disengage. Bad news stinks. The best way to avoid getting depressed about a falling market is to disengage yourself from the news while at work. Don't keep checking the stock market every few minutes. If you're not going to sell or buy during the day, don't even look until you get home in the evening, or try to wait until the weekend. Watching the market throughout the day is a habit that can be broken. When you do, you'll notice that your focus and enthusiasm improve.
4. Keep employees in mind. Be aware that your employees need to maintain a positive outlook during difficult periods. When they read the news about the economy, it's natural that they’ll be concerned about their futures. Talk with your employees about how you are adapting to the changing economy. Never keep employees at arm's length during difficult times. This is a chance to create a tightly knit group that operates like a highly efficient team. Inevitably, that's the key to keeping a company in the black.