Business Mindset v Business Attitude: Which will get you through the credit crunch?

There is no doubt that having some form of business ability, whether that's experience in managing sales teams or selling vegetables on a local market stall, does help your progress when starting up in business.

Having a head for figures helps you balance your books, previous project management skills may help plan out a new product launch and a background in PR may make it easier to know what to say to journalists to get your press release published.

But can the ability to balance your books, project manage or converse with journalists, be your ticket to successfully running your own business?

No, probably not.

Why? Because I think your business mindset is far more powerful and has a far greater influence over your ability to succeed than your business background or experience.

I believe business is an attitude. And if you don't have an attitude to succeed - no matter what the costs - then you will probably fail.

Tough but probably a fair statement, wouldn't you agree?

You can have the best skills training in the world and the most impressive business career behind you but if you don't believe in "you" and your business, then you are very likely to let the gremlins in and talk you out of attending that networking event, phoning that client once more to follow up on that proposal or chickening out of a speaking engagement that could have had you up in front of 100 people who perfectly fit your target customer profile.

And business attitude is needed even more in the economic climate that we are facing today.

I was speaking to a lady who owned a shop selling luxury food items last week about how she was worried about her marketing. She had noticed a dramatic drop of trade since May and was struggling to bring people in to her shop. She had also noticed that the designer hat shop next door had a 70% sale going on, as well the dress store on the other side. People had stopped spending money in her town, apparently.

But carrying on with the conversation, she then admitted that the other clothing store across the street seemed to be unaffected. They had no sale stickers in their window. They still sold their designer brands, but business was as usual. The credit crunch didn't seem to be affecting them.

Business attitude is about holding your own when everyone is panicking and decreasing their prices.

Business attitude is about grimly ploughing on with your marketing plan, even when you have had a major set-back and your biggest client has cancelled their contract with you.

It's about looking at your products and services which are not selling as well as you think they should and asking yourself, what can I do differently?

So, in answer to my question "Business Attitude or Business Ability: Which will get you through the credit crunch?" it's business attitude all the way.

Be aware of the economic climate, know what the interest rates are doing and keep an eye on the exchange rate. Don't make rash decisions but, more importantly, don't let the credit crunch talk you out of achieving success.

A little bit of business attitude goes a very, very long way.

What do you think?  Have you got any views to add to this article – leave a comment.  It takes just a moment :0)

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P.S. This is the latest article to go out in Karen Skidmore’s CanDoCanBe Attitude – the practical, no-nonsense newsletter for home business owners.  To receive your free copy, click here to subscribe.

Comments

[Steve]

Karen,

Good advice, attitude is often all that it takes.

When you find that you can only sell in boom times you are realy in trouble.

Slashing prices and giving away your product will close you down even quicker.

Get lean, very lean, stay close to your customers and advertise. Your customers still need your goods but can't afford them, so supply similar but cheaper.

Steve Coleman

[Maria Yadegar]

Karen, such a good article, particularly relevant now to so many of us. I agree with you and would just add to anyone else out there; keep going, keep smiling and networking, stay focussed but don't devalue your goods or services by panicing and or slashing prices unnecessarily - stay positive.