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The current economic troubles are nothing more than a speed bump on the path to growth.

 

Scary times out there. The sound bite most of us are hearing is “the worst financial crisis since the Great Depression.” And many people focus on the words “Great Depression,” and the visions are apocalyptic. 
 
Shuttered businesses. Bread lines. “Yes, we have no bananas.” Everything gone. Apocalypse. 
 
Not gonna happen. Instead, focus on the word “since.” 
 
In the worst years of The Great Depression, between 1929 and 1933, the country’s gross domestic product was cut roughly in half. Since 1940, the country’s GDP has gone down on an annual basis only once (in 1946), and then only slightly. More than a big difference — it’s the difference between Mount Everest and your local sledding hill. 
 
How did your business do in the 1973 “stagflation” oil crisis? Or the recession of 1980 to 1982? Not in the business yet? OK, how about the recession of 1990 to 1991 or the dot-com implosion of 2001 to 2003? 
 
Chances are, they didn’t affect your business overwhelmingly. They were just speed bumps on the path to growth. There’s no doubt that many of us are in for some pain. But if someone told you that your business would remain flat, or even contract a little, for a year or even two years — what would you do? 
 
Of course, you wouldn’t be happy. That’s a lot of dreams dashed right there. But you wouldn’t drastically change what you do. You’d stay calm. You’d avoid over-extending yourself. You’d buy smarter and work harder. You’d try to do a little bit more with a little bit less. 
 
Do that, and you should be all right. 
 
 
Wishing you the very best business … 
David Squires 
Associate Publisher 
[email protected]

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Wilkerson Testimonials | Sollberger’s

Going Out of Business Is an Emotional Journey. Wilkerson Is There to Make It Easier.

Jaki Cowan, the owner of Sollberger’s in Ridgeland, MS, decided the time was right to close up shop. The experience, she says, was like going into the great unknown. There were so many questions about the way to handle the store’s going-out-of-business sale. Luckily for Cowan, Wilkerson made the transition easier and managed everything, from marketing to markdowns.

“They think of everything that you don’t have the time to think of,” she says of the Wilkerson team that was assigned to manage the sale. And it was a total success, with financial goals met by Christmas with another sale month left to go.

Wilkerson even had a plan to manage things while Covid-19 restrictions were still in place. This included limiting the number of shoppers, masking and taking temperatures upon entrance. “We did everything we could to make the staff and public feel as safe as possible.”

Does she recommend Wilkerson to other retailers thinking of retiring, liquidating or selling excess merchandise? Absolutely. “If you are considering going out of business, it’s obviously an emotional journey. But truly rest assured that you’re in good hands with Wilkerson.”

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David Squires

Stay the Course

Published

on

The current economic troubles are nothing more than a speed bump on the path to growth.

 

Scary times out there. The sound bite most of us are hearing is “the worst financial crisis since the Great Depression.” And many people focus on the words “Great Depression,” and the visions are apocalyptic. 
 
Shuttered businesses. Bread lines. “Yes, we have no bananas.” Everything gone. Apocalypse. 
 
Not gonna happen. Instead, focus on the word “since.” 
 
In the worst years of The Great Depression, between 1929 and 1933, the country’s gross domestic product was cut roughly in half. Since 1940, the country’s GDP has gone down on an annual basis only once (in 1946), and then only slightly. More than a big difference — it’s the difference between Mount Everest and your local sledding hill. 
 
How did your business do in the 1973 “stagflation” oil crisis? Or the recession of 1980 to 1982? Not in the business yet? OK, how about the recession of 1990 to 1991 or the dot-com implosion of 2001 to 2003? 
 
Chances are, they didn’t affect your business overwhelmingly. They were just speed bumps on the path to growth. There’s no doubt that many of us are in for some pain. But if someone told you that your business would remain flat, or even contract a little, for a year or even two years — what would you do? 
 
Of course, you wouldn’t be happy. That’s a lot of dreams dashed right there. But you wouldn’t drastically change what you do. You’d stay calm. You’d avoid over-extending yourself. You’d buy smarter and work harder. You’d try to do a little bit more with a little bit less. 
 
Do that, and you should be all right. 
 
 
Wishing you the very best business … 
David Squires 
Associate Publisher 
[email protected]

Advertisement

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | Sollberger’s

Going Out of Business Is an Emotional Journey. Wilkerson Is There to Make It Easier.

Jaki Cowan, the owner of Sollberger’s in Ridgeland, MS, decided the time was right to close up shop. The experience, she says, was like going into the great unknown. There were so many questions about the way to handle the store’s going-out-of-business sale. Luckily for Cowan, Wilkerson made the transition easier and managed everything, from marketing to markdowns.

“They think of everything that you don’t have the time to think of,” she says of the Wilkerson team that was assigned to manage the sale. And it was a total success, with financial goals met by Christmas with another sale month left to go.

Wilkerson even had a plan to manage things while Covid-19 restrictions were still in place. This included limiting the number of shoppers, masking and taking temperatures upon entrance. “We did everything we could to make the staff and public feel as safe as possible.”

Does she recommend Wilkerson to other retailers thinking of retiring, liquidating or selling excess merchandise? Absolutely. “If you are considering going out of business, it’s obviously an emotional journey. But truly rest assured that you’re in good hands with Wilkerson.”

Promoted Headlines

Most Popular