Be bold not fearful!! Sunday, October 12, 2008
I have now decided to jump on the bandwagon of publishing my thoughts about some of the opportunities and challenges that I have been coming across in my daily business routines.
Today in our morning team meeting I asked our account manager (who has a lot of experience in business) to comment on what she would be doing in her business given the current economic climate.
I was really excited with her reponse that I have now asked her to write me an article that we can send out to our clients so they might be able to draw upon the experience. You should keep an eye out for her post on this blog.
Personally, I believe that the current market is presenting enormous opportunities for businesses. I know from within my circle of contacts that most people are cashed up and have been for some time.
The opportunities being presented are going to be once in a lifetime, and now is not the time to be fearful, but bold. I remember back in the early 90s my uncle sitting me down and explaining to me how he had just purchased a massive shopping centre and that he didnt even have to negotiate with the bank to purchase it. This was all done in the middle of a recession….very bold.
Keep your gearing low (as you always should), do your sums and make sure the deal stacks up. If it does, do the deal. If people had always followed these rules then we wouldnt be in this mess!