What is your account balance?

It's an interesting time to be a small business owner. The economy remains slow, spending is tight, paying clients are few and far between. And yet, it's times like these where you involuntarily begin to reap what you've sown. You see the investment that you've made in relationships coming back to you (either positively or negatively).

I had a tough conversation with our landlord this morning. I explained that cash flow is tight, and while we've done all the belt-tightening we can we're still looking at a couple of very lean months in the immediate future. I wasn't sure how he was going to take it, but he was more than willing to work out a win-win solution that helps us in the near term, while protecting his interest in the long term. He is a small-business man himself, appreciates the nature of our business and understands the value in keeping us both afloat.

Not surprisingly, I had a similar conversation with my staff. They tell me that they buy into our direction and are willing to make near term sacrifices for the long-term good of both themselves and the company. I am blessed to have a staff that is willing to reduce their pay now, while trying to drum up business for the future. In talking with other small business owners, I realize this is not the norm.

Even some of our clients have gone above and beyond to find opportunities to pay us, strictly to keep us in business. They realize it is in their best interest to have us around when the economy recovers, so they're helping us now.

My takeaway from this is simple - a tough economy really challenges more than your retirement fund. The "return" you get now is dependent on the investment in relationships that you made during the good times. Those whom you invested in are there for you now. Those that you didn't, have already either vanished, or are now calling in their chips.

You can't wait until you are in crisis mode to inspire your employees. You can't suddenly call on a client to help you out, if you've been only a vendor in their eyes. You can't expect a landlord to delay a few months of rent payment if he doesn't even know you by name. The time to do these things are when business is going smoothly.

If life is like a giant bank account, I'm certainly making a lot of withdrawals these days. Thank God I focused on deposits when things were better...

Consumer Transparency

Social Networks are changing the way we present ourselves and the way that we interact with others. It was not that long ago that we "presented" the image that we wanted to portray in a given situation. We had our "work-self", our "family-self", our "church-self, our "country-club-self", etc. Because each of these contexts were relatively self-contained, the persona that we conveyed could be (in some cases) quite different.

In the 1990's team-building became a big drive in corporate cultures. The thinking was that if you could get to know a person outside of a work setting, you would have a new appreciation for that person. In other words, if you came to see your co-worker as a devoted parent, a loving spouse or a community volunteer you could come to appreciate that person in a more holistic way. In fact, you might even detect skills that are not currently utilized in the work place and be able to put them to good use.

But today, more and more people are putting their entire lives on display for all to see. Rather than separating and projecting multiple images, people are becoming comfortable being who they are and not trying to be who people expect them to be.

When it comes to understanding consumers in the marketplace, we need to take this perspective into consideration. It is great to understand a person's opinion about a given concept or idea. It's even better to watch how they interact with a product to surface their unspoken needs. But how well will that predict their buying habits? What role do their political views play in their day to day lives? How about their spiritual nature? How much better could we do in developing new products if we understood the "whole person" that we were targeting?

It appears that people are putting their entire lives on display through twitter, facebook, myspace and other networks, depicting themselves as a "total person" with many aspects and attributes. That's the perspective that product & service suppliers must begin to consider when developing new offerings.

Business is like a kidney stone...

I woke up yesterday with back pain. While I've had a sore back before, this was different. I assumed I had "slept wrong" and that was the culprit. But as the day progressed I began to wonder if it was actually something else. I've watched my wife endure several bouts of kidney stones, and based on the pain she experienced, it was clear to me that this was not something that I wanted to emulate. So, I searched the internet to see if my condition is in fact kidney-stone based. I found the following image:

Granted, the body in this illustration is shaped differently than my own (thank goodness) and the marked pain is on the opposite side than I am experiencing. However, this (along with the accompanying text) was sufficient to convince me what I am in for. A quick call to my Dr. and I learned that there is nothing they can do to help me; I just have to drink lots of water and let it pass. They did write me a prescription for Vicadin (which probably makes me think this blog entry is much more clever than it really is), which was very helpful. They also asked me to "capture" the stone if at all possible, so they can see what caused it. That should be no problem, since the same web site that helped me to self diagnose, shows me how to capture the stone...

Once again, I can see where I will have to use some imagination to develop the tactics specific to my situation.

I woke up this morning feeling much better. I foolishly assumed that I must have passed the thing last night and I was over the hurdle. Guess what, mid-morning and the pain was completely back...

And that really does make me think of the current state of many businesses.

• There's much pain to be endured at the moment, but there's hope in sight.
• If we can survive the present the future holds great promise.
• There have been some false moments of hope, only to find that we still had a ways to go.

As my mother always used to say, "this too shall pass". In the meantime, pass the Vicadin.