Small Businesses Licking their Chops

October 4, 2008

Too many people spend too much time worrying about the financial crisis.  That is not to say that this is not a major problem that deserves our attention and our respect, but there is only so muc we can do about it right now.  The key is to empower those who can help solve the problem and let them go to work.

But for some, the crisis will create opportunities.  I am talking to the small business owners, or potential entrepreneurs out there.

In any downturn or crisis situation, when the rules of the game are changing in a powerful way, new winners and losers will sort themselves out.  New champions of our economy will rise to the top.  And as the dust settles, we will be looking at industries very differently than we have before.

Small businesses and startups have an incredible opportunity now to define themselves as real players in the future of our economy.  Since these companies are small enough and secure enough not to take any major hits from the crisis on wall street, it is a time to explore new opportunities.  While the major players in every industry build walls around themselves to protect from being hurt, the small players should take some risks to level the playing field.

Now is the time to bring your services to the forefront.  Land the big clients that are looking to save some cash.  Market the products that have the potential to save people from distress.  Bring your brand to the public in a big way so that when the economy starts to bounce back, as it most definitely will, you will already have the attention you need to bounce with it.

No one is asking for this crisis, and no one wants a recession.  But entrepreneurs should be chomping at the bit right now to make something out of this situation.  If you do one thing very well, and offer it fairly cheap, don’t you think you can make a splash with companies who need to cut costs.

And even in the banking industry, there is room for new players to at least start to have an impact.  The key is to establish your differences, and build off of them.

Here is one example of a company playing that card.  Think of ways you can do it too.