Another article today in the Wall Street Journal and I am sure there are many other headlines as well about the state of the retail industry right now with retail companies dumping inventory at deep discount pricing, concerns about liquidity and credit not being available for doing deals (mergers and acquisitions)
I am not denying the specific examples cited in these stories. Circuit City is real, Pilgrim’s Pride is real and I am sure there are other bankruptcy filings today in the private sector. The real issues is leadership mindset.
I published the following comment in the Wall Street Journal today in response to an article “Retail Faces A Long Season of Stress” My response is relevant for all companies and entrepreneurs regardless of the industry:
Many companies have developed their culture to focus on building a positive value added relationship with their customers and prospective customers. These businesses will feel much less of an impact of a global economic softening than others. Some will thrive. The operative phrase is cultural change.
Regarding credit markets and consolidation in the industry, credit constraints are real. However, it is also true there is capital available and if a deal makes strategic sense, it can get done.
Our most immediate challenge is mindset. We are tested in our ability to look for opportunities and solutions when media focuses on every possible negative story. Those who succeed with a consistent mindset that they can move forward successfully, will do so.
There are countless examples throughout history, including the depression era, of people moving forward and not being stuck. Mindset is a choice for each of us and is not a result of external events.
Sharing with all my readers the energy of peace, happiness and abundance
The Profit Expert
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Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. Don’t miss my FREE Report: How To Make More Money With Your Business Now and Long Term I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871
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