Bail Out or Bail?

How will the government bailout of Wall Street affect your business? Do you feel like you have been bailed out or is it time to bail? I see businesses failing all around me. Mostly, I see a failure to adjust to changing markets. Whenever there are huge moves in how people do business, there are always opportunities for entrepreneurs to create new models. One thing we know for sure is that we can't keep doing business the same way. So, how (or) are you going to change?

Before you decide to bail, take a step back and look at the big picture. Is there a way that you can continue to offer your product or service without the trappings of traditional business models? What are your competitors doing or not doing? What opportunities do you have? Do you see a wave that you can ride?

As you re-think business, don't forget to evaluate your use of information technology. You can make huge cuts in your overhead costs if you properly harness internet tools that didn't even exist 3 or 4 years ago. If you feel stuck, or don't see any way out - you may need a coach who can help you see your potential.