Once a week, PointBlank will deliver a roundup of small business news and advice from around the nation.
Stocks Continue Their Roller Coaster Ride
The opening bell had not yet dinged Wednesday morning when the gloom and doom starting rolling in. After rallying on Tuesday, it appears the stock market is trending downward again. By day’s end Wednesday, it had dropped over 400 points.
The market is going to dominate the news cycle for a little bit until the ship is righted again. To help you get through the difficulties, be sure to check out recent posts from us and from PointBlank.
The key, if you have investments in the market, is not to panic and sell off now. You’ll be getting rid of assets that will inevitably rebound for pennies on the dollar, essentially, and you’ll be contributing to a panicked market environment that is not even close to warranted. The drop, while severe, is likely to be temporary.
How has the stock market affected you? Let’s make that today’s topic of discussion.
A Small Business Survival Tale
It’s not necessarily news that some 40 percent of the jobs lost in this economy are from small businesses. The environment is getting better, but it’s not exactly thriving. I loved this quote from the Gloucester Times, not for its grim message but for its language:
Entrepreneurship is a jungle. In an economy that eats its young, like this one, 40 percent of jobs lost are in small business.
But there are survivors. Sometimes due to luck, trends, wisdom, effort or adaptation.
We need success stories to guide us, I believe. The story of a former Mail Boxes franchisee who struck out on his own and has clung on despite numerous setbacks and a recession is one that we can all take heart from. I highly suggest you give it a read.
No Burgers, No Problems
How can you change your business model to become more profitable, more sustainable or just better without alienating loyal customers? There’s a lesson in Sweden, of all places, and BizEngine was happy to deliver it last week. Worth a read, but it might make you hungry.
Other Useful Links
Please suggest your own links in the comments! Thanks for reading.