I was in the middle of a conference about our social media strategy with my marketing partners. I’m a bottom-line guy, and I asked what I thought was a tough question: “What’s the bottom line and ROI on all this social media stuff?”
The president of their team was in the middle of a description of increased sales, referrals, publicity, and so on—when their creative director interjected a question of his own:
“You are operating three successful businesses right now. What do you want to get out of this exposure?”
I sat back. That was a good one. It’s been a while since I thought about what gets me up in the morning.
What do I want to accomplish?
I want to help inspire and mentor the next generation of entrepreneurs.
There’s a well-known motivational saying—popularized by President John F. Kennedy—that goes, “The Chinese word for “crisis” is composed of two words: ‘danger’ and ‘opportunity.’”
Actually, that’s not correct. It’s been popularized over the decades, and has even adopted by the Chinese themselves. But the proper translation is actually “danger at a critical moment of change.”
We’re in a crisis right now, and I don’t just mean the current pandemic. The world is critically changing every day lately, it seems. Certainly, it’s changing faster and more radically than at any time in recent memory.
We’re going to need visionary entrepreneurs and risk takers to get positive results—bottom-line, ROI results—in this rapidly changing, globally interconnected world. And by world, I mean political, economic, and environmental worlds—more than ever, they’re all intertwined.
Those visionaries, entrepreneurs and risk takers will have unorthodox, unproven ideas. But they will need experienced business pros to help them turn those ideas into reality in a complex, interconnected world. We—the proven, successful business leaders—can mentor and guide them to succeed. It’s a moment of opportunity for all of us.
Established businesses tend to get conservative—they work to preserve their gains. That can work against them in times of sudden change. But businesses that seek to innovate and mentor the next disruptors have a chance to own the future. It may not look like they thought it would, but successful leaders work to be there when it happens.
So, here’s what I want to tell the young up-and-comers: There’s never been a better time to start—or BUY—a business.
I know it doesn’t look like it, but now’s the time. Crisis. Risk in a time of change. The New York Times agrees.
Here’s some examples:
- Airline Virgin Australia went under, and venture capital firm Bain Capital is eager to snap it up. What chutzpah—they think they can do a better job of running an airline than the pros? Well, with new ideas and a fresh perspective, they just might. Now they can find out, and at a bargain price.
- Airbnb owners are getting out as demand has tanked. They’re selling their properties, driving prices down. Want to get into real estate? Suddenly, there’s opportunity. Buy low. Figure out a new way to find profits in today’s difficult environment, and you can build your empire.
- Up to 50% of all today’s small businesses may fail. That’s terrible for them, but an opportunity for the next generation of entrepreneurs. Shuttered operations and idle assets can be purchased for a fraction of their former cost.
Interested? Think you can run a company? Had your job kicked out from under you? There’s more. The government wants to loan the startup money. Talented professionals are looking for their next employer. Take your business plan to the bank—or to the SBA. Interest rates are hovering at—even below—zero percent. Loans will probably never be cheaper. Buy into an opportunity to innovate and manage it through the change.
BOTTOM LINE: If you are an experienced business leader who knows how businesses grow and succeed, and you know an entrepreneur with a new idea, join forces. Be a mentor. Reconnect with that drive that got you started during your own moment of “risk in a time of change.”
If a modular facility is part of your vision for success, contact us today for more information.