Publisher’s Note

It’s one thing to read in a newspaper or hear on the news about the serious recession that people in our country are experiencing. It’s quite another to be one of those people and be going through severe financial problems, the closing of a business or the loss of a home and other possessions.

Every single day I speak with business owners in and outside of Beverly Hills and listen to their war stories about the sad state of the economy. For the most part, these stories were all about their present business situation. But over the past few weeks I have noticed a shift and people seem more and more to be reflecting on what “was” weeks and months ago—rather than what “is” right now. Translation: Business seems to be on the upswing for many.

Certainly, I am not saying that the recession is over. But if you have made it this far—even if you have barely squeaked by—chances are that you, your family and your business will survive. So don’t give up. As a young business owner, I have never had to deal with a firestorm like a “recession” before. So this difficult business time has been a trial by fire for me as I’m certain it has been for many. It’s been a crash course in Business & Survival 101 and what we take away from this experience is know- ledge, determination and perseverance.

Every business owner is brilliant in their own way. After all, they had the courage to go out and start a business which is never easy. Right now, the talk is of those businesses that have closed their doors. But what of those businesses that are still open? What about new businesses opening up right now? In as much as it’s sad for those businesses that did not make it during this tough time, for other businesses this is a time of growth and rebirth.  Those businesses that are surviving, doing well - are doing well because the owners are using every brain cell they have to com- promise, strategize and evaluate their needs and options. Some have downsized, others branched out in new directions diversifying their business to bring in revenue from areas they never considered before. Whatever it is, they have been willing to do. This is survival in business.

It’s only natural to be discouraged when your accounts payable exceeds your accounts receivable. But keep in mind that here in America, we have gotten used to spending and spending on things that maybe we could cut back on, or cut out completely—for now. Sure it’s difficult to realize that you might not be able do “now” what you did “before” but in this economy, sacrifice,   good  judgment and excellent planning will make the difference in the future of your business.  What you do today will determine your future tomorrow.  So cutting back and closing ranks - at least for the time being - should not be seen as a negative, or failing. It should be seen as wise, prudent and the mark of a true business owner; a survivor.

I believe the worst is behind us. For those who have made it keep going, because things are on the upswing.  For those who hit a rough patch, don’t give up. Believe that once again in the future your knowledge and creativity for owning your own business will surface again.

Stephen Takowsky

Publisher