This article is a re-printed from the�July 2011� edition, as approved by the�

UP Business Today�

Going Back in Time�By David Saint-Onge�Here’s a news flash: a combina-�tion of weak consumer spend-�ing, rising taxes and regulatory�red-tape helped drop small busi-�ness owner confidence in the�U.S. for the third consecutive�month (“Small Business Opti-�mism Drops”, The Wall Street�Journal, June 14, 2011). For�many small business owners�across the country, this is old�hat. We’ve come to know this�reality all too well, yet many�American citizens still don’t un-�derstand the challenges faced by�small businesses.�

A crappy economy is here to�stay for awhile, so small busi-�ness owners are finding them-�selves in a growing�predicament: do something�substantive or you may never�recover.�

As a business consultant intent�on helping businesses get better,�I have laid witness to a very�unfortunate trend that is as star-�tling as it is baffling. Too many�small business owners have�simply forgotten the formula�they used to start and grow their�businesses. It is as if the success�of the early 2000’s was of their�doing. Remember back a few�years ago when business was�great. Most small business�owners reached unprecedented�success with record sales and�profits, expansion opportunities�and skyrocketing business valu-�ations. Money was easy to get,�inflation was in check, and�prices and fees were easy to�raise. But truth be told, much of�that success came from a huge�wave of national economic ex-�pansion; not prolific business�management skills. Companies�made money despite their inef-�ficiencies because consumers�simply kept spending their mon-�

ey, and now as we find out,�much of that money wasn’t�theirs and they don’t have it�anymore.�

Today’s economy is radically�different and has been such for�over three years. Despite the�political rhetoric, the economy�certainly doesn’t seem to be re-�covering, especially here in the�U.P. So what is a small busi-�ness owner to do? I say it’s time�to go back in time.�

Remember the days when you�started your business? You pre-�pared yourself emotionally and�financially, committing con-�stant attention to the process.�You were eager to be successful�and exemplified that can-do at-�titude that often was a differ-�ence maker, especially when�times got tough. But now you�find yourself in a tough spot and�you’re scared, mad and con-�fused.�

I said this three years ago and I�will say it again; small business�owners can either bury their�heads in the sand hoping this�economic downturn spares�them, or they can do something�about it. Recently I have had�the opportunity to help form a�group of about 18 small busi-�ness owners who meet once ev-�ery two months. Our goal is�simple, to discuss areas of con-�cern and mutual interest. The�group represents a wide variety�of businesses with many per-�spectives. These small business�owners are well read, insightful,�and mad. They are mad about�the situation the country finds�itself and the position from�which their companies must�now compete.�

You see, for many of them their�concerns are not of their doing�because almost all of them have�not stood still in an economy�that has too many small busi-�ness owners cowering and com-�plaining.�

This group of small business�owners has accepted the chal-�lenge of putting their businesses�in a position of strength, despite�the economic downturn. They�continue to focus their efforts�and that of their staffs on three�critical areas of improvement�(service, value and competitive�position) that they believe will�make all the difference. In es-�sence, they have gone back to�their entrepreneurial roots in or-�der to succeed.�

Remember when your company�was just starting out. You had a�motive and a mission. For�many small business owners,�they all answered the following�questions (“How to Decide if�Entrepreneurship is Right for�You”, The Wall Street Journal):�1. Am I passionate about my�product or service? To simply�survive and then to grow your�business you had to have the�desire to get through the rough�times, even when your enthusi-�asm was severely tested.�2. What is my tolerance for�risk? There was no guarantee of�a paycheck, you had to work�hard for your money and you�had to take risks.�3. Am I good at making deci-�sions? No one else was going to�do it for you. Your success or�demise was your own doing.�4. Am I willing to take on nu-�merous responsibilities? There�was no one to delegate to; you�had to learn as much as you�

could about everything all the�time.�5. Will I be able to avoid burn-�out? You were hell-bent on suc-�ceeding and the business�climate back then didn’t make�excuses.�

For small business owners who�have the desire and energy to�succeed it may be time to revisit�your entrepreneurial roots be-�cause this is the type of thinking�and action necessary to survive�the downturn and position your-�self for future business success.�

If we use my group of small�business owners mentioned pre-�viously, many are spending con-�siderable energy redesigning,�restructuring and reinventing�their business. Some may look�at these small business owners�as being naive; some may think�they’re foolish. I have come to�know each of them and many�more like them and I can attest�they are neither. To a person,�each recognize what it will take�to compete in this market and�each are taking the action neces-�sary to put their companies in a�position to be successful. For�them, many are what business�owners used to be; they’re en-�trepreneurs betting on their mo-�tive and mission.�

David Saint-Onge is President�and Principal Strategist for�Black Ink Assets�(www.blackinkassets.com and�www.twitter.com/YooperBiz), a�business consulting company�providing organizational as-�sessment and efficiency perfor-�mance services, business�growth and sustainability guid-�ance, strategic information�technology consulting and tech-�nical services, and development�of organizational transition�plans and effective owner exit�strategies.�