Entrepreneur Andy Willoughby comments on New York Times article about the recession making small businesses stronger
I want to share an article from the New York Times, Small Business section written by Jack Stack, Founder, CEO SRC Holdings Inc., about how the recession made him stronger.
How The Recession Made us Stronger
As it did with most companies out there, the recession hit SRC like a brick. But, as I’ve discussed a few times, it was a number of decisions that helped us pull through. Now that the results are in for 2009, it’s clear that those decisions didn’t just help us survive — they made us stronger.
In October 2008, when we began our planning and forecasting for the coming fiscal year, people here were really scared about the coming year. We had customers in panic mode. Some were on the brink of bankruptcy and others didn’t know if they could get financing. Others were going to the mattresses and eliminating inventories. Added together, 2009 promised to be exceptionally bleak for a manufacturing company like ours. The fear was paralyzing.
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