January 23, 2009

Silver Lining

I just found out I have the flu (ugh!), so I'm going to keep this short and sweet. I was thinking yesterday about the economy and I'd like to offer a not-so-insignificant silver lining: all companies are being forced to realize efficiencies across the board, top to bottom. Belt tightening can be a very healthy process, allowing companies to look more closely at how and where they spend money. From the entrepreneurial perspective, it's particularly interesting because our belts are always tight. As a result, we're programmed to make every dollar count. You really can't afford to be greedy personally or lazy about negotiating with vendors or lax about monitoring expenditures because you just don't have any fat to cut. I repeat, every dollar counts. So, small companies are, by nature, very lean. Maybe now some of the larger companies will take their cues from upstarts and apply a more conservative, vigilant approach to fiscal matters.


No comments: