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02-14-2009 08:49 AM #5
Probably not going to go well for some of the small niche type shops, or the one's who have become too specialized... The shops running good now have already got rid of the dead weight on the payroll, cut down on inventory, lowered their debt to a managable level and all the important things already mentioned here.... Having been through the cycles a time or two, as in the past I see the well run businesses surviving and even possibly growing a bit. The ones who don't adjust are gonna go away..... Deja Vu all over again....
Re-reading Bob's post, just one more thought... Analyze and adjust is so true now, and should become the main thought of all businesses.....and be ready for the onset of inflation in the not so distant future.... Make the necessesary purchases now, and don't borrow a nickel you don't absolutely have to have. Surviving the lean times IMO is easier then surviving the "good old days" of double digit inflation!!!!! When everyone gets bit by the money crunch, there's going to be some very, very good deals to be had by the guys with money in the bank (if your bank is still open).....Last edited by Dave Severson; 02-14-2009 at 08:58 AM.
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A belated Happy 78th Birthday Roger Spears
Belated Happy Birthday