Perhaps you have happened to locate yourself driving through an older blighted neighborhood? Even the most effective of cities have them; groupings of dilapidated homes on the side streets, boarded up commercial building fronting them on the main thoroughfare. One might notice a strong building that has been once a thriving business, but is now only a shell. Possibly, it has changed hands repeatedly, the initial business now in a busier side of town, carrying out a brisk business. More often than not, the old locally owned establishment has long since been shuttered, another in a listing of failures that dot such areas.
Surely, at some point one of these simple shells has caught your eye and, you have wondered why the company failed; just this type of building had been the home of a dried cleaning establishment within an older commercial area of Lynchburg, Virginia. The structure is one particular classic art-deco buildings which have so much appeal, but most of the glass has been broken out and the newest paint has colors from many different eras coming out here and there. The story was told never to way back when by way of a successful operator of another dry cleaning operation. The owner had gotten up in years and, as environmental pressures begun to squeeze a, he just wasn't able to make the changes that were necessary to keep the doors open. What made the owner different from usually the one who told the story? Being nimble... being responsive, ready to create changes to ever changing conditions. painting in Lynchburg VA
Business is never static; always changing and morphing, one must be quick on his feet if he wants to build a sustainable business. Most businesses that appeal to large industries have discovered how to be nimble. No business unit is immune to alter, as has been seen in the mortgage and property sector.
"Many Realtors have discovered that if they are unwilling to modify the ways they work, they could not survive. Most importantly, those who don't continuously change as technology changes, are finding themselves losing from the growing market of young and first-time homebuyers."
Mitch Copenhaver, top regional seller with Long and Foster
The true estate and mortgage industry reflect what's common in American business, with ebbs and flows, now heightened by government intervention.
Hospitality businesses have experienced drastic changes as a result of downturns in financial markets, and consumers have severely reduce discretionary spending on dining and lodging. An entrepreneur can build quite an effective business by serving the needs of a particular industry that has seen years of bull market growth. A company that has built its house centered on good ties with the hospitality industry is probably seeing some serious decline in the underside line as the newest recession squeezes leisure spending. A close- minded entrepreneur could be liable to bury his head in the sand and that is amazing things will get better.
They'll, but it could well be long past the time that his last assets have already been sold off and he's found himself in the unemployment line. A nimble business owner, on one other hand, is going to be actively seeking new markets to serve. Exactly the same resources that were found in a restaurant or a resort could be put to great use by seeking contracts in the institutional markets. Responsive business owners might take this time to trim some fat off of these business by seeking out new management techniques or by empowering employees to take more control of there job, thus cutting front office expenses. Lynchburg interior design
Richard Branson, one of the very most dynamic entrepreneurs touched on one of is own keys to success in a CNN interview when he said "...I think small is beautiful, and that is that, you understand, we try to keep all our companies in small units. And I think people generally enjoy working for small companies as opposed to large companies. And if among our companies gets too large, I'll split it in two. And when it gets too large again, I'll split it in two again, because I actually think small is more nimble than the big conglomerates." Branson has succeeded by doing what others weren't doing, by finding the small items that the big companies had overlooked.
In these difficult financial times, it'd pay to step back, take a look at your business, and see if you should be nimble and eager for positive change. Take the time to make positive changes, and see how it pays dividends