When Unsold Goods Pile Up

Unsold goods are starting to pile up.  As one friend of mine informed me, the fashion business,  lousy in a good economy, has manufacturers with piles of stuff piling up on the docks and in customs.  Funny how all the necessities are not so necessary at the moment.   Except for the souls who were bonused this past year for running the economy into the ground, it is a safe bet that few men are ordering custom shirts or women are stalking sales in a new pair of Manhola Blahniks.

According to an article in the New York Times economists predict a continued steep decline in our gross domestic product.   The ordering of goods is way off, and the shipment of goods is tapering off at a significant rate.   Experts make their predictions, which in the end, show that experts know about as much as you or I, given these unique economic conditions.   Experts and pundits are making their money being experts and pundits.  the rest of us have to actually work for a living.

So what does it mean?  Perhaps it means, forget about the experts and their predictions that are either dire or optimistic.  Realize you are on your own.  Forget about bailouts and stimulus.  If they happen, great.  If they don’t happen,  you have at least a psychological edge on your competitors who may be waiting on a bailout.

It is time as a business to make your own way.  Many businesses that have survived or prospered in a recession or depression have flourished for many years after.   Maybe while your competitors are cutting back it is time to press forward.   Figure ways to advance your channels, perhaps take a greater market share from the more timid in your industry.  Maybe their are purchases you are needing to make for new technology, etc.   It may be the time to cut a heck of a deal.   True, credit is tough to get, but those who pay cash, if you have nay, see the world as their oyster.

To paraphrase loosely from “The Godfather,” you need a war time consigliere.”  Translated into business, it means you need to hire tough people who have been through hard times before.  You need employees who can take advantage of your competitors’ weaknesses.   It is one thing to hire employees who have known nothing but good times and found that everything they try works wonders.  Until recently.  It is another to have a preemployment screening program where you recruit the experienced souls who are capable of doing battle in an increasingly tough market.  conversely, you also need the very modern employees who are up on all the cutting edge technology and other aspects that will render your business current, if not cutting edge in its principles.

Realize, most companies will cut back.  They don’t really streamline.   They are merely cutting back to save money.   Maybe by turning your business into a lean, mean, fighting machine, you will not only survive this economic debacle, but you will make a few bucks as well.

Check them out before you hire.