Just like you, I turned on the news today, and the stock market was taking another tumble. The correspondents struggled to explain it, but their last comment was, “It was more politics than economics”.
I think back to the Wizard of Oz: “Pay no attention to the man behind the curtain”. It’s still good advice today when it comes to the intersection of Wall street and Main street.
So what does it mean for small business? While I realize that the stock market tumbling has a direct bearing on your 401(k) plan, it shouldn’t change the way you make your plans for business. Ironically, the best financial advice I can give you regarding the nation’s economics and the stock market is to ignore the news!
A good friend and business associate recently told me the following: “I ignore the news concerning the stock market. I just go about doing what I feel is right concerning managing business and creating growth. If I listened to the market news and planned according to the economic reports, it would be a death wish for my business.” Warren Buffet has a similar philosopy and it has served him quite well.
Back in 2009 when we were all reeling from the first round of serious recession, Nashville Wraps made a conscious decision to move forward and continue to create more great new products and designs. We did so for all of 2009 (and every year since). It turned out that 2009 was a really good year for us, and it hasn’t stopped. We could have held back and played it safe as many did, but that would have been a mistake.
People are people; customers are customers; we all want new ideas and products when we want them. A sure way to kill a sale or kill a business is to fail to provide what your customer is willing to buy. Yes, there is risk involved, but those businesses who have survived the last few years know what their customers want and are able to deliver it to them. We feel that if you do likewise, your business will experience growth, even in uncertain times.
Robby Meadows
Director of Marketing
NashvilleWraps.com
Hi! I make 100% recyclable cards; please check out my American made by me cards on http://www.ginasart.com. I love Nashville Wraps and use their plastic sleeves for my eco-friendly cards. Thank you, Gina Hammond
Being in packaging sales for 14 years, I knew the cost of a wide
range of packaging. Because we sold mostly to jewelers and high
end retail stores that expected an above average product, I had the opportunity and knowledge to create an above average look for my packaging. After requesting catalogs and viewing many on line, Nashville Wrap is by far a superior company than any I have reviewed and chose for all my packaging needs. Not only are the price points on your product great, the customer service is the most refreshing! Being in customer service, I took great pride in each and everyone of my customers and enjoyed watching their growth and success’s. They become family! I already feel that way about Nashville Wrap. I feel they have my back and truly care about my business! So what you are doing is working! May God Bless you! If I ever move to Tennesee, I will be knocking on your door!
I love your philosophy. I agree. I sell real estate in Long Island, New York….. I don’t even look at newspapers or watch much TV news anymore….. The last thing I need is doom and gloom embedded all over my face….. I need to keep upbeat and positive! and the only way to do that is to ignore the news!!! Some people think of that as ignorance. I think of it as survival!!!!!
G-r-e-a-t newsletter — interesting and very enlightened. I was ordering most of my packaging supplies from your company because you have (1) green products, (2) very attractive products, and (3) competitively priced products. But now, after reading Robby’s very wise and uplifting words, I’m even more motivated to continue as a Nashville Wraps customer. Kudos! 🙂 ~ Carol
Ignoring the news is excellent advice! For if you’re wasting your time following the news every second… then you cannot be paying attention to your business!
A story that my parents used to tell, immediately comes to mind… there was this gentleman who sold hot dogs at the corner of a busy intersection, and managed to sell enough to send his son to college. His business was booming! He didn’t have time to read the papers or listen to the news.
So when his son came home, after his first year at college, and told his him… “Dad, we are fixing to be in very rough economic times… you need to cut back on your hot dog and bun orders”!
…the father listened… thinking that his college educated son surely knew best… and quickly reduced his hot dog and bun orders. He ceased to stand in the middle of the intersection hawking his hot dogs…and retreated to the curb, where he was much less noticeable.
Sure enough! …he immediately sold less hot dogs, and thought to himself just how smart his son was!
We used the economy to our advantage and moved to a prime downtown location for a fraction of the rent we would have paid a few years ago. Literally, a great move for our business!
Well I was thinking that I should Buy Bank Of America stock but I was a little slow, Warren Beat me to it $5 Billion Dollars worth it just took the steam out of my desire all of a sudden. Still there are a lot of those kind of chances out there, and now is the time to support America. This is also the time to stop paying attention to the people who have their own agenda and have no idea of your business or marketing plan. Trust your own judgement on this. After all, who knows your business and future plans better than “YOU”!
A good philosophy!