In slow economy, small businesses must create their own revolution
“One of the great liabilities of history is that all too many people fail to remain awake through great periods of social change… Today our very
Participants gather for a candlelight vigil at the Martin Luther King, Jr. Memorial.
(Win McNamee – GETTY IMAGES)
survival depends on our ability to stay awake, to adjust to new ideas, to remain vigilant and to face the challenge of change.”
—
Martin Luther King Jr.
Recent economic data tell us the economy has begun slowing down, something we see playing out in the eyeglass industry. Many optical dispensaries have been reporting sluggish sales these past few months, as many consumers are keeping their glasses longer and are only replacing their prescription lenses and not the frames.
But as I’ve experienced, small businesses can thrive through these slowdowns if they look for new opportunities.
Most businesses, in my opinion, are sleeping through a “revolution.” This reference may seem a bit extreme, but business owners must now seriously consider how they can grow, evolve and prosper in these uncertain economic times with new ways of thinking.
Despite reports that U.S. economic growth slowed to 1.5 percent this past quarter from 2 percent in the first quarter of the year, some businesses are
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