September 5, 2011
The Case for Optimistic Owners
This Labor Day, we’re reminded of the struggles women face to make their businesses work. After the recession kicked in, FullBloom Baking Company owner Karen Trilevsky slashed the price of bread she sells to retailers by a painful 30 percent. Her employees agreed to take pay cuts in lieu of layoffs.
But Trilevsky, whose business does $50 million a year, believes a turnaround is what's cooking now. And judging by the data, she's got company.
According to Insperity's Small Business Confidence Survey, 53 percent of owners expect sales to increase through year’s end, 37 percent are adding employees and 76 percent say they're meeting or exceeding 2011 performance plans.
The survey reports businesses are "finding ways to convert obstacles into
opportunities. We're starting to move in the right direction." They site owners’ flexibility and adaptability as the reasons.
What’s Trilevsky's recipe for success? "Determination, persistence and stupidity. Fail fast and move on." That's one of the Top 10 Takeaways from PINK’s recent Spring Into Ownership events. (You can find the rest here.)
Publications like the Chicago Tribune and the Toledo Blade report a rise of optimism in business owners since the beginning of the year, though many are still concerned about things like inflation and are hesitant to expand.
Other studies say another decline is beginning. The NFIB reports optimism has been steadily dwindling since May. Hopefully, there's another upswing in store for the future.
Bonus PINK Link: Part of being an optimistic owner is having a business with purpose. Here's how to find yours.
By Cynthia Good
"The way I see if, you want a rainbow, you’ve
got to put up with the rain." Dolly Parton
*Supporting images from FreeDigitalPhotos.net, photostock and digitalart.